Course Information

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U.S. International Taxation: Sourcing of Income
Author: Michael S. Schadewald & Robert J. Misey, Jr.

Description:
The Course focuses on the U.S. rules for determining whether a particular item of income or expense is from sources within or without the U.S. Sourcing is especially important for the computation of the foreign tax credit, as well as for the taxation of foreign persons.

The Course covers in detail each of the sourcing rules that is used to determine the source of specific classes of income, e.g., personal service income, dividends, interest, rents and royalties, capital gains and other types of gain.

In situations in which the source of taxable income is required for tax-computational purposes, the general rules for allocation and apportionment of expenses to categories and kinds of income are explained.

In addition, special allocation and apportionment rules for interest expenses and research and development expenditures are covered, as well as other specialized allocation and apportionment rules for such items as legal and accounting expenses, state income taxes, net operating losses, stewardship expenses, the standard deduction, certain personal expenses, personal exemptions and charitable contributions.

Course Details:
Price:  $36.00
Field of Study:  Taxes
Prerequisites:  U.S. International Taxation: Tax Jurisdiction, or equivalent knowledge
Level:  Basic
CTEC course number:  1075-CE-6713
Course was last updated on:  06/30/2010
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Library:
U. S. International Taxation

Technical Requirements:
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Credit Available For: Units
CPE 3.00 CPE
CTEC Federal 3.00 CE
Enrolled Agent (Accepted by the IRS) 3.00 CPE
National Registry Interactive 3.00 CPE
National Registry New Standards 3.00 CPE
QAS 3.00 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.