GS 817 Video: Personal Tax Planning episodes:

• December 05, 20149-1 Explain the concept of basis and adjusted basis and describe the cost recovery methods used under the tax law to recover the cost of personal property, real property, intangible assets, and natural resources.

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• December 05, 20147-4 Describe the general types of tax credits, identify specific tax credits, and compute a taxpayer’s allowable child tax credit, child and dependent care credit, American opportunity credit, lifetime learning credit, and earned income credit.

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• December 05, 20149-2 Determine the applicable cost recovery (depreciation) life, method, and convention for tangible personal and real property and calculate the deduction allowable under basic MACRS.

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• December 05, 20147-2 Compute a taxpayer’s alternative minimum tax liability and describe the characteristics of taxpayers most likely to owe the alternative minimum tax.

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• December 05, 20146-1 Identify the common deductions necessary for calculating adjusted gross income (AGI).

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• December 05, 20147-1 Determine a taxpayer’s regular tax liability and identify tax issues associated with the process.

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• December 05, 20145-3 Apply basic income exclusion provisions to compute gross income.

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• December 05, 20144-3 Determine the tax filing status of a taxpayer.

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• December 05, 20144-1 Describe the formula for calculating an individual taxpayer’s taxes and explain each component of the formula.

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• December 05, 20141-3 Describe the different tax rate structures and calculate a tax.

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