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Surgent's Taking Advantage of Installment Sales

Friday, December 6
 10:00am - 12:00pm

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2.00 Credits

Member Price $99.00

Non-Member Price $134.00

Overview

When real property is sold for a gain, we always try to find ways to defer recognizing income so that it won’t be necessary to send a check to Uncle Sam. There is a provision within the Internal Revenue Code that allows the taxpayer to defer recognition of immediate taxable gain in the year of sale known as an “installment sale.” Knowing how and when to utilize this provision makes the Accounting and Finance Professionals very valuable to either their client or the entity they work for. We will also discuss recent proposals that could impact the future of this provision.

Objectives

  • Utilize the provisions of IRC Sec 453 to defer recognizing gain on the sale of real property via an installment sale

Highlights

  • How does the IRC define an installment sale under IRC Sec 453?
  • When can a taxpayer utilize the provisions of IRC Sec 453?
  • When should a taxpayer utilize the provisions of an installment sale and when should it be avoided?
  • How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method?
  • Reporting an installment sale when related parties are involved
  • Calculating an installment sale
  • How has the Tax Cuts and Jobs Act impacted the use of the installment sale method?

Designed For

Accounting and Finance Professionals who either represent or work for entities that own real property

Prerequisites

A basic knowledge of the provisions for recognizing gain or loss on the sale of real property

Preparation

None

Notice

To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.

Leader(s):

Leader Bios

David Peters, Peters Professional Education LLC

David R. Peters, CPA, CFP, CPCU, MST, MBA

David Peters is the Founder and Owner of David Peters Financial Group and Peters Tax Preparation & Consulting, PC. David has over sixteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry.

David was the first-ever Chief Financial Officer at Compare.com - a position he held for more than three years. Currently, David is a National Instructor for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four master’s degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. David was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.

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Non-Member Price $134.00

Member Price $99.00