Essential Legal Concepts with Tax Analysis ON DEMAND

Overview

While accounting and the practice of law are separate professions, the accountant must be conversant with essential legal concepts. Modern accounting practice requires familiarity with corporate legal structure, business entities, partnership operations, contracts, property rights, employment law, divorce, consumer protection, will & trusts, and even bankruptcy law. This course explores these specific areas with an emphasis on business and accounting issues. This informal and clear guide to the basic concepts of business law provides accountants with an excellent review of legal concepts that arise in any tax professional’s practice. The attendees will gain the ability to recognize and discuss general legal concepts with both the client and their counsel. Knowledge is power and nowhere is that truer than in the field of law. To gain such a working knowledge of law, readily understandable explanations are given to essential and related business law subjects. The accountant is guided through the complex maze of literally hundreds of legal principles from acceptance to zoning.

Highlights

Asset protection. Alimony and child support. Bankruptcy. Divorce settlements and divisions. Employment. Entities and title. Insurance. Property dispositions, and more.

Prerequisites

None.

Designed For

CPAs.

Objectives

Identify the goals and purposes of asset protection recognizing the objections some people have about shielding assets from creditors, cite reasons for asset protection, situations that can expose assets, and the primary concepts of insurance, asset placement, and statutory protections. Recognize the importance of creditor types associated with asset protection and differentiate fraudulent transfer laws. Identify the degree and necessity of asset protection using net worth and asset values under a balance sheet and the various ways that insurance can offer asset protection. Recognize the asset protection advantages and disadvantages of ownership formats and entities by identifying the protection given by corporations, partnerships, trusts, and more.

Preparation

None.

Notice

None.