The seminar will explain the law, the underlying legal principles, and the logic for both used by tax authorities and by the courts in evaluating, judging, and enforcing the law.Fundamental issues like recognition of income, allowance of deductions, proper and improper capitalization, permissible depreciation and amortization methods, qualifications for credits, and differences between civil tax enforcement and criminal enforcement are just some of the areas on which light will be shed.These principles and their logic apply generally to taxation as it relates to for-profit businesses, not-for-profit organizations, and individuals. Where subtle differences may exist, that possibility will be explored.Additionally, tips for gathering and preserving adequate documentation and other proof to protect one’s tax position will be offered, as well as information on both practical issues and legal processes as they relate to planning transactions, calculating taxes, filing returns, and responding to any challenges by tax authorities or others.Areas Covered Identification and explanation of bedrock tax principlesIdentification and Understanding of key Internal Revenue Code provisionsPresentation of a conceptual framework for recognizing taxabilityRecognition risks, traps, and opportunities relative to taxable eventsApplying tax logic to developing support for tax positionsApplying tax logic to contest opposition to tax positionsApplying tax logic to meeting evidentiary standardsPractical advice for limiting tax risksCourse Level - BasicWho Should AttendTax PreparersCPA’sLawyersInvestment CounselorsBusiness ConsultantsBankers ExecutiveBusiness OwnerPartnerInvestorCounselControllerTreasurerAuditorAccountantBookkeeperLoan OfficerBankerTax ManagerCPAEnrolled AgentTax OfficialWhy Should You AttendIf you pay taxes or file tax returns, shouldn’t you understand the principles behind those processes on which IRS and other tax authorities will judge whether or not you owe more, or even whether you have committed a crime?Tax law and tax assessments are based on principles of law that are not widely known to the public but are the bedrock for testing and protecting one’s own tax positions and essential for successfully contesting any adverse claim or assessment.In just 1 hour, this seminar will lay out the principles in straightforward, easy-to-follow, plain English, along with providing tips and ideas to further protect your tax position.