exam_2_study_sheet - TAX 6845 Tax planning & consulting...

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TAX 6845 – Tax planning & consulting Exam 2 – Study sheet Property transactions Understand the major tax factors affecting property transactions Choice of tax entity & trapping of appreciation inside the entity Lease vs. purchase – advantages of leasing, how distinguish a lease from a conditional sales contract Installment sales method (concepts and computations) Long-term contracts – completed contract method & percentage of completion method Like-kind exchanges – especially nonsimultaneous exchanges & the requirements for a “Starker“ exchange Cost segregation (defined), advantages & disadvantages, common methodologies Depreciation of property acquired in a like-kind exchange Using capital budgeting (net present value) to evaluate alternative property transactions Deferred taxes and FIN 48 General problem – permanent and temporary differences between pretax financial accounting income and taxable income SFAS no. 109 – deferred tax liabilities and deferred tax assets (and the related valuation
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This note was uploaded on 03/03/2010 for the course ACG 6845 taught by Professor Kelliher during the Fall '09 term at University of Central Florida.

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