The subject of taxes is a universal legal issue. Whether you pay taxes, file for taxes or are subject to others who do, it’s imperative to understand the foundation upon which determination will be made on what is owed, when it is due, or whether a crime has been committed. These issues are determined by tax law and tax assessments, which are based on principles that provide that foundation and a clear understanding of these is necessary for testing and protecting one’s own tax positions as well as successfully contesting claims or assessments.

This 1 hour CLE course will delve into the law and the underlying legal principles that serve as their foundation. The course will review the essentials of logic that are employed by the courts and by tax authorities in assessing, judging and enforcing the taxation laws.

The course will address fundamentals, generally applicable to for-profit businesses, not-for-profit organizations and individuals, such as recognition of income, proper and improper capitalization, deduction allowance, and permissible depreciation and amortization methods. The course will also explain the qualifications needed for credits and differences between civil tax enforcement and criminal enforcement, as well as a host of other issues. Additionally, the course will offer tips and strategies for gathering and preserving adequate documentation and other forms which serve to provide proof to protect one’s tax position, as well as information on both legal processes and practical issues that relate to planning transactions, filing returns, calculating taxes, and responding to challenges