This is the follow-up course to Buker's Taxanalysis. It picks up where the Buker's Taxanalysis course ends due to time constraints and covers over twenty additional cash flow topics that we just don't have time for in Buker's Taxanalysis. Each of these topics can have a dramatic effect on the cash flow analysis of a borrower.

• Net operating losses (NOLS)
• are they cash outflows or paper?
• when can NOLS indicate a borrower may be an undesirable credit risk?
• How to detect NOL stacking
• Capital losses
• when are capital losses real cash outflows and when are they paper? They can be both!
• Federal and state tax adjustments
• significant nonrecurring income or losses may require adjusting the recurring Federal and state taxes of an individual
• how to compute the change in tax
• traps to watch out for
• special computations applicable to long-term capital gains only
• Alternative minimum tax, investment tax credit, investment tax credit capture
• Multiple pass-through K-1s and how they can cause you to double count the borrower's cash flow
• how to detect and avoid this trap
• Section 179 deduction
• when is depreciation actually a cash outflow? When is adding back the Section 179 deduction the wrong thing to do?
• Investment interest expense
• what it is, why it should not be added back like other types of interest expense
• Schedule K-1s
• how negative capital accounts can be a deferred tax time bomb for partners
• Section 1031 like-kind exchanges
• delayed versus simultaneous exchanges
• how to quickly determine the cash impact
• Accrual to cash conversions
• when are accrual to cash conversions required to properly state cash flow and when can they be omitted with no adverse tax consequence?
• Fiscal year-end pass-through entities
• how they may impact your cash flow analysis and how to properly adjust for them
• Hands-on analysis of three advanced level returns which graduate in complexity