OBJECTIVE:
Negative consequences represent an unfortunate part of life. While many professionals can proactively anticipate results, some consequences occur unexpectedly. In the world of tax, even straightforward and seemingly benign situations can trigger adverse income tax repercussions. Accordingly, this seminar will equip you with the skills to identify, prevent, and manage such outcomes.

To deliver the seminar in a realistic manner, the seminar introduces topics by starting with common transactions or events before presenting the unfortunate tax result. Subsequently, the seminar explains the income tax rules and reasons behind the negative result ensuing from each situation. You will receive suggestions to manage and mitigate such a problem as well as tips for recognizing relevant precursors and triggers. Finally, the seminar provides you with notes that elaborate on detailed background information for each situation.

WHO WILL BENEFIT:
Although most tax practitioners will benefit from this seminar, the seminar particularly targets individuals—not specialized in tax—who work in an environment with income tax consequences. 

LEARNING OUTCOMES:
Upon completing this seminar, participants should be able to:

• identify triggering conditions of income tax rules which might apply in common transactions,
• recognize the significance of the applicable income tax rules,
• assess the degree of exposure to adverse consequences; and evaluate the potential impact, and
• strategize to prevent, manage or mitigate unintended income tax outcomes.

CONTENT:

•  Investments in a corporation
• Intercorporate dividends and exposure to taxation as a capital gain
• Individuals selling shares to non-arm’s length corporations
• Family income splitting
• Select obstacles to claiming the small business deduction
• Stop-loss rules Scenarios involving unfortunate income tax results 

PREREQUISITES:
Participants enrolled in this seminar should possess a working knowledge of general corporate and personal income tax.

COURSE LEADER: ALEX GARBER, CPA, CA, MTax