JN CPE Courses
JN Productions CPE Courses - PO Box 293024 - Lewisville, TX 75029
Phone (800)479-5636 Fax (443)222-0698
JN Productions 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 website: www.learningmarket.org.
Delivery Method: Self-Study. Make your purchase through our secure shopping cart. Once your purchase is completed, you will receive an e-mail with course access instructions.
Format: Online pdf document. (Printed book available for addl. $20.00 plus s/h.)
Prerequisites: None
Level: Basic
CPE Credit: 2 Hrs. Taxation
Price without printed book: $34
Price with printed book: $49 plus s/h
Course expiration: You have one year from date of purchase to complete the course.
Course Description:
Prerequisites: None
Level: Basic
CPE Credit: 2 Hrs. Taxation
Price without printed book: $34
Price with printed book: $49 plus s/h
Course expiration: You have one year from date of purchase to complete the course.
Course Description:
An installment sale is a sale of property where one or more payments are received after the close of the tax year. This mini-course discusses the particulars of installment sales, including requirements, calculation and pitfalls. Cross issues such as a combined installment sale and like-kind exchange, the impact of related parties, pledging, repossession and contingent payments are reviewed. Also, the importance of recognizing the dangers of dealer status, inventory, purchase price allocation, and installment note disposition are emphasized.
Course includes discussion of:
* Installment method
* Installment income
* Imputed interest & OID
* Related party sales
* Like-kind exchanges
* Contingent payments or price
* Sale of a business
* Dealer dispositions
* Installment notes in excess of $5 million
* Dispositions of installment obligations
Course Objectives
After reading the materials, participants will be able to:
1. Analyze the importance, particularly tax deferral, of the installment method, list three requirements to use the method, and define basic installment method terminology.
2. Apply the imputed interest, OID and §1038 repossession rules to installment sales and subsequent repossessions.
3. Identify and explain the following §453 pitfalls and complexities: the related party limitation, the regulations governing the use of the installment sale method in like-kind exchanges and the contingent payment sale rules.
4. Allocate and report installments payments among identified asset classes using R.R. 76-110 and the residual method noting §453 prohibitions on certain assets regarding dealer dispositions and inventory.
5. Compute the amount of interest payable on tax-deferred income when §453 dispositions exceed $5 million and identify circumstances considered taxable dispositions of installment obligations to determine when any gain or loss is recognized.
About the Author
Danny C. Santucci earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. His legal career was initiated with the business and litigation firm of Edwards, Edwards and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well known celebrities. In 1980, Danny established the law firm of Santucci, Potter and Leanders, in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law and estate planning.
Danny has been an officer and active member in various organizations including the Glendale Bar Association, Century City Bar Association, Orange County and Los Angeles County Bar Associations, California State Bar Association, Toastmasters and Lions Club. He also avidly supports the American Association for the Advancement of Science. He has been admitted to practice before all California and federal courts including the United States Tax Court and the United States Supreme Court.
Serving as a lecturer for the Continuing Education of the Bar of California, Golden Gate University, and numerous state C.P.A. societies, Danny teaches a variety of tax, business and real estate courses. Danny is in demand all across the country as a speaker for all levels of professional and civic organizations and numerous major seminar circuits. The author of 25 texts, Danny speaks to over 2,000 people per month and travels more than 150,000 miles annually. He is listed in "Who's Who in Creative Real Estate" and is admitted to the American Exchangor Hall of Fame.
Course #M100 BOOK ONLY
$15
Order the book only:
-If you do not need CPE credit but are looking for excellent reference material.
-If you have already ordered the online course or the Mega CPE Special and now want to order the printed book. (No CPE credit is available if you have not ordered the complete course).
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