Podcast Episodes
Back to Search![[Tax] 23, Hobby Losses](https://artwork.captivate.fm/abe4183a-4dfa-4a03-97da-92d15c5d473d/_bZUi6Yzjq6h3zQu_ZsaQB5Y.jpeg)
[Tax] 23, Hobby Losses
Income must be reported; expenses not deductible if activity lacks profit motive. --
The CFP Exam is known for its difficulty, and as I embark on this…
1 year, 5 months ago
[Tax] 22, Alternative Minimum Tax (AMT)
Ensures minimum tax payment; adjustments and preferences increase taxable income. --
The CFP Exam is known for its difficulty, and as I embark on this…
1 year, 5 months ago
[Tax] 20, Child Tax Credit
$2,000 per qualifying child under 17; partially refundable; phase-out starts at $400,000 MFJ. --
The CFP Exam is known for its difficulty, and as I em…
1 year, 5 months ago
[Tax] 19, Standard Deduction
Varies by filing status; additional amounts for age 65+ or blind. --
The CFP Exam is known for its difficulty, and as I embark on this learning journe…
1 year, 5 months ago
[Tax] 18, Filing Status
Single, MFJ, MFS, HOH, and Qualifying Widower; determined on last day of tax year. --
The CFP Exam is known for its difficulty, and as I embark on thi…
1 year, 5 months ago
[Tax] 16, Insurance Policy Exchanges (Section 1035)
Allows tax-free exchanges of life policies and annuities, except annuity for life policy. --
The CFP Exam is known for its difficulty, and as I embark…
1 year, 5 months ago
[Tax] 17, Basic Tax Formula
Income minus exclusions, deductions for AGI, and standard/itemized deductions to determine taxable income. --
The CFP Exam is known for its difficulty…
1 year, 5 months ago
[Tax] 15, Involuntary Conversions (Section 1033)
Defers gain if proceeds are reinvested in similar property within specified time. --
The CFP Exam is known for its difficulty, and as I embark on this…
1 year, 5 months ago
[Tax] 14, Section 1202 Stock
Excludes 50%, 75%, or 100% of gain on qualifying small business stock based on acquisition date. --
The CFP Exam is known for its difficulty, and as I…
1 year, 5 months ago
[Tax] 13, Section 1244 Stock
Allows deduction of up to $50,000 ($100,000 MFJ) of loss on small business stock as ordinary loss. --
The CFP Exam is known for its difficulty, and as…
1 year, 5 months ago