This class was created by Brainscape user David Freiler. Visit their profile to learn more about the creator.

Flashcard maker: David Freiler

Decks in this class (54)

Tax 1-1 Describe terms related to income taxation.
The creator of this deck did not yet add a description for what is included in this deck.
34  cards
Tax 1-2 Identify the steps in the tax calculation process.
The creator of this deck did not yet add a description for what is included in this deck.
1  cards
Tax 1-3 Identify items of inclusion, exclusions, deductions, or tax credits.
The creator of this deck did not yet add a description for what is included in this deck.
24  cards
Tax 1-4 Analyze a situation to calculate total income for tax purposes.
The creator of this deck did not yet add a description for what is included in this deck.
4  cards
Tax 1-5 Analyze a situation to calculate adjusted gross income.
The creator of this deck did not yet add a description for what is included in this deck.
30  cards
Tax 1-6 Analyze a situation to calculate taxable income.
The creator of this deck did not yet add a description for what is included in this deck.
39  cards
Tax 1-7 Analyze a situation to calculate available tax credits or total tax due.
The creator of this deck did not yet add a description for what is included in this deck.
16  cards
Tax 1-8 Analyze a situation to calculate the equivalent tax benefit of exclusions or deductions to tax credits.
The creator of this deck did not yet add a description for what is included in this deck.
5  cards
Tax 1-9 Evaluate a situation to select fundamental methods of managing the client’s tax liability.
The creator of this deck did not yet add a description for what is included in this deck.
11  cards
Tax 2-1 Identify characteristics, advantages and disadvantages of the cash or accrual method of accounting.
The creator of this deck did not yet add a description for what is included in this deck.
8  cards
Tax 2-2 Evaluate a situation to select the most appropriate method of tax accounting to use.
The creator of this deck did not yet add a description for what is included in this deck.
19  cards
Tax 2-3 Identify an advantage or disadvantage of a particular method of inventory valuation.
The creator of this deck did not yet add a description for what is included in this deck.
8  cards
Tax 2-4 Explain characteristics, advantages, or disadvantages of a business form.
The creator of this deck did not yet add a description for what is included in this deck.
14  cards
Tax 2-5 Identify requirements for a valid S corporation election.
The creator of this deck did not yet add a description for what is included in this deck.
32  cards
2-6 Evaluate a situation to recommend the most appropriate business form.
The creator of this deck did not yet add a description for what is included in this deck.
17  cards
Tax 2-7 Analyze a situation to calculate the allowable home-office deduction.
The creator of this deck did not yet add a description for what is included in this deck.
9  cards
3-1 Identify the type of property in a situation.
The creator of this deck did not yet add a description for what is included in this deck.
18  cards
Tax 3-2 Analyze a situation to determine the correct treatment for property related expenditures.
The creator of this deck did not yet add a description for what is included in this deck.
20  cards
Tax 3-3 Analyze a situation to calculate the adjusted basis of property.
The creator of this deck did not yet add a description for what is included in this deck.
28  cards
Tax 3-4 Analyze a situation to calculate the cost recovery deductions over the recovery period.
The creator of this deck did not yet add a description for what is included in this deck.
25  cards
Tax 3-5 Analyze a situation to calculate the election or deduction amount under Section 179.
The creator of this deck did not yet add a description for what is included in this deck.
18  cards
Tax 3-6 Analyze a situation to calculate the amount of cost recovery recapture, or unrecaptured Section 1250 income.
The creator of this deck did not yet add a description for what is included in this deck.
20  cards
Tax 3-7 Analyze a situation to determine the tax treatment of Section 1231 property transactions.
The creator of this deck did not yet add a description for what is included in this deck.
10  cards
Tax 4-1 Analyze a situation to identify an exchange of assets that qualifies for like-kind treatment.
The creator of this deck did not yet add a description for what is included in this deck.
25  cards
Tax 4-2 Analyze a situation to calculate the gain or loss realized, the gain or loss recognized, or the substituted basis for a like-kind exchange.
The creator of this deck did not yet add a description for what is included in this deck.
20  cards
Tax 4-3 Identify the rules related to the Section 121 exclusion (Sale of Residence)
The creator of this deck did not yet add a description for what is included in this deck.
33  cards
Tax 4-4 Analyze a situation involving a disposition of a personal residence to calculate the gain or loss realized and the gain or loss recognized.
The creator of this deck did not yet add a description for what is included in this deck.
14  cards
Tax 4-5 Identify the rules relating to an installment sale.
The creator of this deck did not yet add a description for what is included in this deck.
10  cards
Tax 4-6 Analyze a situation to calculate the taxable portion of an installment sale.
The creator of this deck did not yet add a description for what is included in this deck.
12  cards
Tax 4-7, 8 Identify rules related to casualty and theft losses.
The creator of this deck did not yet add a description for what is included in this deck.
32  cards
Tax 4-9 Identify rules relating to an involuntary conversion.
The creator of this deck did not yet add a description for what is included in this deck.
14  cards
Tax 5-1 Identify legal forms or structures a direct participation program may use and the tax and nontax considerations in selecting a form.
The creator of this deck did not yet add a description for what is included in this deck.
6  cards
Tax 5-2 Identify tax mechanisms that enable direct participation programs to provide specific tax advantages.
The creator of this deck did not yet add a description for what is included in this deck.
18  cards
Tax 5-3 Identify factors that may limit the availability of federal income tax benefits from a direct participation program.
The creator of this deck did not yet add a description for what is included in this deck.
19  cards
Tax 5-4, 5, 6, 7 Passive Activity Rules
The creator of this deck did not yet add a description for what is included in this deck.
61  cards
Tax 5-8, 9 Vacation Home Rules
The creator of this deck did not yet add a description for what is included in this deck.
17  cards
Tax 6-1 & 2 Life Insurance
The creator of this deck did not yet add a description for what is included in this deck.
34  cards
Tax 6-3 & 4 Annuities
The creator of this deck did not yet add a description for what is included in this deck.
23  cards
Tax 6-5 & 6 Capital Gains and Losses
The creator of this deck did not yet add a description for what is included in this deck.
70  cards
Tax 6-7 Analyze a situation to calculate the amount of investment interest expense that is deductible.
The creator of this deck did not yet add a description for what is included in this deck.
13  cards
Tax 6-8 Identify characteristics of a form of real or potential dividends.
The creator of this deck did not yet add a description for what is included in this deck.
17  cards
Tax 7-1,2,3 Intrafamily Transfers
The creator of this deck did not yet add a description for what is included in this deck.
53  cards
Tax 7-4 Analyze a situation involving a trust to determine whether its income is taxed to the grantor, the trust entity, or some other person.
The creator of this deck did not yet add a description for what is included in this deck.
24  cards
Tax 7-5 Analyze a situation involving a charitable contribution to calculate the maximum allowable income tax deduction for the current year.
The creator of this deck did not yet add a description for what is included in this deck.
43  cards
Tax 7-6,7 Divorce Considerations
The creator of this deck did not yet add a description for what is included in this deck.
27  cards
Tax 7-8 Identify characteristics of a valid and enforceable premarital agreement.
The creator of this deck did not yet add a description for what is included in this deck.
4  cards
Tax 8-1 Identify the purpose of a given provision of the federal tax law.
The creator of this deck did not yet add a description for what is included in this deck.
8  cards
Tax 8-2 Identify characteristics of the audit process.
The creator of this deck did not yet add a description for what is included in this deck.
8  cards
Tax 8-3 Identify the sources of authority for reliance on tax-related issues.
The creator of this deck did not yet add a description for what is included in this deck.
7  cards
Tax 8-4 Identify the steps necessary to research a tax problem properly.
The creator of this deck did not yet add a description for what is included in this deck.
8  cards
Tax 8-5,6 Additional Taxes
The creator of this deck did not yet add a description for what is included in this deck.
35  cards
Tax 8-7 Analyze a situation to calculate the self-employment tax.
The creator of this deck did not yet add a description for what is included in this deck.
12  cards
Tax 8-8,9,10 Tax Traps, Penalties & Penalty Taxes
The creator of this deck did not yet add a description for what is included in this deck.
44  cards
Tax 8-11,12 Penalties
The creator of this deck did not yet add a description for what is included in this deck.
13  cards

More about CFP 3 Tax

  • Class purpose General learning

This pack was created from the iOS Brainscape App

How studying works.

Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.

Add your own flashcards.

Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!

What's Brainscape anyway?

Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.

We use an adaptive study algorithm that is proven to help you learn faster and remember longer.

Looking for something else?

CPA
  • 50 decks
  • 1,262 flashcards
  • 97,302 learners
Packs: Ninja AUD Flashcards, Ninja FAR Flashcards, Ninja BEC Flashcards, And more!
CAP REG - TAX
  • 6 decks
  • 194 flashcards
  • 2 learners
Decks: Corporate Taxation, Estate Trust Taxation, Individual Taxation, And more!
CFP 4 Retirement & Benefits
  • 17 decks
  • 1392 flashcards
  • 161 learners
Decks: Retirement 1 1 Retirement Needs Analysis, Retirement 1 2 Retirement Planning Proce, Retirement 1 3 4 Retirement Planning Cal, And more!
Tax Compliance
  • 26 decks
  • 444 flashcards
  • 3 learners
Decks: Ethics, Computation, Property Income, And more!
Make flashcards