Gain a better understanding on bankruptcy law and the impact of federal and state taxable income as well as tax attributes as a result of bankruptcy.
As result of the possibility of significant bankruptcy during this time, it is important that practitioners have a working knowledge of the issues that face an individual who files a Chapter 7 or Chapter 11 bankruptcy. Since the biggest debt that a bankrupt individual faces is debt on real property including a personal residence, a practitioner needs to understand what tax impacts arises as a result in a discharge in some portion of the amount outstanding. This topic will help you be able to have an understanding of the rules surrounding forgiveness of debt, restructuring of debt and the impact of taxable income.
Learning Objectives
- You will be able to discuss bankruptcy law and the impact of federal and state taxable income.
- You will be able to describe the impact of forgiveness of debts as it relates to taxable income.
- You will be able to identify tax attributes as a result of bankruptcy.
- You will be able to recognize debts that are not just in bankruptcies.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
| Introduction Into Presentation, Bankruptcy Law and What Impacts It | |
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| Identifying Tax Attributes and How They Are a Result of Bankruptcy | |
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| Discussing Debts That Are Not Just in Bankruptcies | |
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on August 20, 2014.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Live Webinar Registration
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AL CLE 1.7
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.7 hours credit.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- IL CLE 1.5
- This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
- ME CLE 1.5
- This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
- NH MCLE 1.7
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 100 Minutes.
- NJ CLE 2.0
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hours of total CLE credit.
- NV CLE 1.5
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 2.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
- VT CLE 1.5
- This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
- WI CLE 2.0
- This program has been approved by the Board of Bar Examiners for 2.0 hours for use toward the Wisconsin Mandatory CLE requirement.
- CAPP/CAPA
- This is an IAPP qualifying continuing education activity.
CPE 2.0 including Taxes 2
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
- Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 2.0 hours.
Who should attend?
This live webinar is designed for accountants, CPAs, controllers, CFOs, tax managers, finance directors, accounts payable professionals, bookkeepers, and attorneys.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Michael G. Polis, CPA, Esq.
Wilke, Fleury, Hoffelt, Gould & Birney, LLP
- Attorney with Wilke, Fleury, Hoffelt, Gould & Birney, LLP
- As an attorney and California licensed CPA, his practice focuses on Knox-Keene Act licensed health care service plans and insurance regulatory matters; in addition, he represents health care providers, including physicians, dentists, optometrists, MSOs, IPAs and practice management companies
- Provides legal services to Narcotic Treatment Programs, residential and nonresidential alcohol and substance abuse facilities and Federally Qualified Health Centers
- Also provides legal counsel to individuals and business entities on tax, 1031 Exchanges, bankruptcy and general corporate-related legal issues
- The emphasis of his practice is the licensure of health care facilities, HMOs and insurers
- Teaches business law, legal research and writing at the University of California, Davis and his extensive writings on health care-related issues have appeared in The Sacramento Lawyer, the California Optometric Association’s monthly newsletter and Sacramento Medicine and Solano Physician magazines
- Northern California Super Lawyers Magazine, Super Lawyer, 2017-2020; Sacramento Magazine: Top Healthcare Lawyer in Sacramento J.D. degree, University of the Pacific, McGeorge School of Law; B.A. degree, University of California, Los Angeles
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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