Buker's Taxanalysis Self-Study Course Outline

Just some of the topics covered in Buker's Taxanalysis Self-Study Course along with the related exercises:

• Recurring and nonrecurring items
  • How to incorporate their effects into your cash flow analysis
  • Simple adjustments for recurring and nonrecurring items
  • Paired adjustments
  • Investment adjustments
  • Typically nonrecurring items
• Historical versus recurring cash flow and how to separately calculate each one, depending on your needs
• Hidden cash flow and how to find it within a return
• Non-cash expenses and where specifically to find and adjust for these throughout a return
• Interest expense adjustments as they affect cash flow
  • How to properly arrive at Cash Flow Available to Service Debt
  • How to properly arrive at Net Cash Flow
• The analysis of pass-through entities
  • Partnerships, LLC's and LLP's and REMIC's
  • S Corporations
  • Estates and Trusts
  • How to use the Schedule K-1s to correctly show the cash flow from each type of entity
  • How the Schedule K-1 must be analyzed differently for each type of entity and why
• Analyzing real estate activities on Schedule E
• Capital gains and losses cash flow analysis under a variety of scenarios
  • When are capital losses real cash flow and when are they paper?
  • Split year purchase and sales and why they make a difference
• Multiple pass-thru K-1s that can pass-thru interest, dividends, royalties and capital gains and losses that look like cash but aren't!
  • These are now widespread in tax returns these days.
  • Failing to properly identify them and exclude each of these pass-thru's from your cash flows can lead to huge overstatements of cash flow and a bad loan.
  • Learn how to spot all the various schedules where these items can pop up on a return and how to fix them and make sure your cash flows are correct!
• How passive loss rules can drastically impact a cash flow analysis, if not handled properly
• Net operating losses; cash or noncash and why
• Section 179 Epense and how to handle it
• Section 1031 like-kind exchanges and their cash flow effects
• Fiscal year end pass-thru entities and how to factor these into your cash flows
• The dangers of "blank" K-1's and how to avoid this trap
• Investment interest expense
  • Three possible ways you can "wreck" the cash flow if this isn't handled right
• Accrual to cash conversions