自制note chapter 4.docx

自制note chapter 4.docx - Part Two Fundamentals of Tax...

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Part Two: Fundamentals of Tax Planning Chapter Four: Maxims of Income Tax Planning Learning objectives LO 4-1. Describe the difference between tax avoidance and tax evasion. LO 4-2. Explain why an income shift or a deduction shift from one entity to another can affect after-tax cash flows. LO 4-3. Explain how the assignment of income doctrine constrains income- shifting strategies. LO 4-4. Determine the effect on after-tax cash flows of deferral of a tax cost. LO 4-5. Discuss why the jurisdiction in which a business operates affects after-tax cash flows. LO 4-6. Contrast the tax character of ordinary income, capital gain, and tax- exempt income. LO 4-7. Distinguish between an explicit tax and an implicit tax. LO 4-8. Summarize the four tax planning maxims. LO 4-9. Describe the legal doctrines that the IRS uses to challenge tax planning strategies defining Tax planning as the structuring of transactions to reduce tax costs or increase tax savings to maximize the NPV of the transaction.
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  • Fall '16
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