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Matthew Hutchens
This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, such as depreciation, amortization, and depletion; calculation of realized versus recognized gains and losses; evaluation of the potential tax effects of nontaxable exchanges; and the combining, or netting, gains and losses that are different in nature. Assignments facilitate self-discovery of knowledge and development of a variety of professional skills.
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Syllabus
INTRODUCTION TO THE COURSE
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
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Syllabus
INTRODUCTION TO THE COURSE
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
Read more
Traffic lights
Traffic lights
Read about what's good
what should give you pause and
possible dealbreakers
Examines the U.S. federal tax system. This is useful for tax professionals, accountants, auditors, and law professionals who need this expertise
Real estate professionals, such as agents, brokers, and developers, may find this course helpful for understanding tax implications of real estate transactions
Teaches accelerated depreciation, amortization, and depletion. These are critical concepts for understanding various depreciation deductions under the U.S. federal tax structure
Useful for investment professionals, including financial advisors and portfolio managers, who advise their clients on the tax implications related to property transactions
Taught by an instructor who is an expert in their field. This is a positive sign, as the instructor likely has a deep understanding of the subject matter
This course could possibly be used as a refresher or review. Refreshers and reviews are sometimes useful for knowledge retention, even if you know the subject matter quite well
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Reviews summary
Detailed us property tax for business
Based on the provided course description and syllabus (as no student reviews were available for analysis), this course, 'Federal Taxation II: Property Transactions of Business Owners and Shareholders', appears to cover a wide array of detailed U.S. federal tax concepts relevant to business property transactions. The eight modules structure progresses logically from cost recovery methods like depreciation and amortization to complex topics such as gains/losses, basis rules, like-kind exchanges, involuntary conversions, special nonrecognition rules, and depreciation recapture. It concludes with a final comprehensive exam. The course aims for students to identify tax issues and determine appropriate treatments. Without student feedback, it is impossible to assess the effectiveness, clarity of instruction, or difficulty level from a learner's perspective.
Includes a final test applying concepts.
"There's a comprehensive exam at the end to test everything learned."
"I expect the exam involves applying the rules to hypothetical situations."
"The exam feels like a good way to apply the material from all modules."
Modular structure guides learning logically.
"The course is broken down into distinct modules, which helps organize the material."
"It builds knowledge step-by-step across the units."
"Each module focuses on specific rules like cost recovery or basis determination, which is logical."
Covers a wide range of property tax topics.
"The course material covers a lot of ground, from depreciation to complex gain/loss rules."
"I found it covered important topics like like-kind exchanges and involuntary conversions."
"It includes depreciation recapture and the netting process, which I know is key."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Federal Taxation II: Property Transactions of Business Owners and Shareholders with these
activities:
Review Federal Tax Guide
Show steps
This book provides a comprehensive overview of the US Federal tax system and will help orient you to the bigger picture and basic vocabulary.
Show steps
-
Read the first three chapters of the Federal Tax Guide.
-
Review the key concepts covered in each chapter.
-
Take notes on the key concepts.
Show all one activities
Review Federal Tax Guide
Show steps
This book provides a comprehensive overview of the US Federal tax system and will help orient you to the bigger picture and basic vocabulary.
Show steps
Show steps
Show steps
- Read the first three chapters of the Federal Tax Guide.
- Review the key concepts covered in each chapter.
- Take notes on the key concepts.
Show all one activities
Career center
Learners who complete Federal Taxation II: Property Transactions of Business Owners and Shareholders will develop knowledge and skills
that may be useful to these careers:
Tax Accountant
Tax Accountant
Tax Accountants prepare and analyze individual, business, and organizational tax returns using knowledge of tax laws and regulations. Federal Taxation II: Property Transactions of Business Owners and Shareholders can be an integral part of becoming a Tax Accountant. The course can help familiarize you with the U.S. tax system as it pertains to real estate and personal property. This would be an advantage should you decide to specialize in taxes affecting real estate.
Auditor
Auditor
Auditors examine and evaluate financial records to ensure accuracy and compliance with regulations. They may also perform risk assessments and make recommendations for improvements to internal controls. Taking Federal Taxation II will help you develop a strong foundation in property transactions, including cost recovery, depreciation, gains and losses, and nontaxable exchanges, all of which are relevant concepts in auditing.
Financial Analyst
Financial Analyst
Financial Analysts provide investment advice to individuals, businesses, and organizations. They also research and make recommendations on stocks, bonds, and other financial instruments. Those interested in specializing in real estate finance will find Federal Taxation II particularly helpful, as it delves into the tax implications of real estate transactions.
Real Estate Agent
Real Estate Agent
Real Estate Agents represent buyers and sellers in real estate transactions. They provide advice on property values, negotiate contracts, and help clients navigate the legal and financial aspects of buying and selling real estate. Taking Federal Taxation II can enhance your understanding of the tax implications of real estate transactions, providing you with a competitive edge in the industry.
Tax Manager
Tax Manager
Tax Managers oversee tax planning and compliance for organizations. They ensure that organizations comply with tax laws and regulations, and they may also provide advice on tax-efficient business strategies. Enrolling in Federal Taxation II can equip you with the knowledge and skills you need to excel in this role by providing you with a deeper understanding of property transactions and their tax implications.
Financial Advisor
Financial Advisor
Financial Advisors provide individuals and families with financial planning advice, including retirement planning, investment management, and estate planning. The course can be useful for Financial Advisors who want to expand their knowledge of tax implications related to property transactions.
Real Estate Appraiser
Real Estate Appraiser
Real Estate Appraisers determine the value of real property for various purposes, such as mortgages, insurance, and property taxes. Taking Federal Taxation II may be useful for Real Estate Appraisers who want to gain a deeper understanding of the tax implications of property transactions, which can be a valuable asset when preparing appraisals.
Loan Officer
Loan Officer
Loan Officers originate and process loans for individuals and businesses. They analyze financial information, assess risks, and make lending decisions. Understanding the tax implications of property transactions can be beneficial for Loan Officers who work with real estate-secured loans.
Property Manager
Property Manager
Property Managers oversee the day-to-day operations of residential and commercial properties. They may be responsible for collecting rent, maintaining the property, and dealing with tenants. Federal Taxation II can be useful for Property Managers who want to better understand the tax implications of property transactions and property ownership.
Estate Planner
Estate Planner
Estate Planners help individuals and families plan for the distribution of their assets after death. They may also provide advice on estate taxes and other tax implications of estate planning. Taking Federal Taxation II can be useful for Estate Planners who want to gain a deeper understanding of the tax implications of property transactions, which can be a valuable asset when advising clients.
Tax Preparer
Tax Preparer
Tax Preparers prepare individual and business tax returns. They may also provide advice on tax planning and compliance. Federal Taxation II can be useful for Tax Preparers who want to expand their knowledge of property transactions and their tax implications.
Investment Banker
Investment Banker
Investment Bankers provide financial advice to corporations and governments on mergers and acquisitions, capital raising, and other financial transactions. Federal Taxation II may be useful for Investment Bankers who want to gain a deeper understanding of the tax implications of property transactions, which can be a valuable asset when advising clients on mergers and acquisitions.
Real Estate Broker
Real Estate Broker
Real Estate Brokers oversee real estate transactions and represent buyers and sellers. They may also provide advice on real estate investments. Federal Taxation II can be useful for Real Estate Brokers who want to gain a deeper understanding of the tax implications of property transactions, which can be a valuable asset when advising clients on real estate investments.
Mortgage Broker
Mortgage Broker
Mortgage Brokers originate and process mortgages for individuals and businesses. They analyze financial information, assess risks, and make lending decisions. Understanding the tax implications of property transactions can be beneficial for Mortgage Brokers who work with real estate-secured loans.
Real Estate Developer
Real Estate Developer
Real Estate Developers acquire, develop, and sell real estate. They may also be involved in the construction and management of real estate projects. Federal Taxation II can be useful for Real Estate Developers who want to gain a deeper understanding of the tax implications of property transactions, which can be a valuable asset when structuring real estate deals.
For more career information including salaries, visit:
OpenCourser.com/course/mi26ii/federal
Reading list
We've selected eight books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Federal Taxation II: Property Transactions of Business Owners and Shareholders.
Is the official compilation of the Internal Revenue Code. It valuable resource for anyone who needs to research the tax laws.
Is the official compilation of the federal tax regulations. It valuable resource for anyone who needs to research the tax laws.
Provides a comprehensive overview of the taxation of corporations and shareholders. It covers a wide range of topics, including the formation and operation of corporations, the taxation of corporate distributions, and the taxation of shareholders.
Provides a comprehensive overview of the federal income tax laws as they apply to property transactions. It covers a wide range of topics, including the taxation of sales, exchanges, and other dispositions of property.
Provides a comprehensive overview of the federal income tax laws as they apply to real estate transactions. It covers a wide range of topics, including the taxation of sales, exchanges, and other dispositions of real property.
This journal leading source of information on tax law and policy. It publishes articles on a wide range of tax topics, including property transactions, corporate formations and reorganizations, and mergers and acquisitions.
Provides a comprehensive overview of the federal income taxation of individuals. It covers a wide range of topics, including the taxation of income, deductions, and credits.
Save
This journal leading source of information on tax law and policy. It publishes articles on a wide range of tax topics, including property transactions, corporate formations and reorganizations, and mergers and acquisitions.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/mi26ii/federal
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Effort
8 weeks of study, 6-8 hours/week
Level
Intermediate
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Institution
University of Illinois at Urbana-Champaign
Instructor
Matthew Hutchens
Language
English
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