Income Taxation in Personal Financial Planning
offered by UCLA Extension

Income Taxation in Personal Financial Planning
at
UCLA Extension
Overview

Enroll to the course which examines the issues and determination of tax liability for events & activities

Skills you will learn

Who should do this course?

Anyone who earns income and is subject to taxation, ranging from employees to self-employed individuals, freelancers, and business owners

What are the course deliverables?

Gain the information and tools of income taxation to make financial planning decisions
Understand tax issues and concepts as they relate to insurance, investments, and benefit planning
Learn about the impacts of intra-family transactions
Demonstrate an understanding of planning techniques such as excluding income, deferring income, shifting income, and managing or timing of income

More about this course

Students are given the necessary information and tools of income taxation to make financial planning decisions within the context of either personal or client financial goals and objectives
Topics include tax issues and concepts in relation to insurance, investments, benefit planning, intrafamily transactions, and business operations
Students are taught and asked to demonstrate an understanding of the following planning techniques: excluding income, deferring income, shifting income, and managing or timing income

Introduction to Income Taxation and Personal Finance

Overview of income taxation system

Importance of tax planning in personal finance

Understanding Taxable Income

Sources of taxable income

Exclusions from gross income

Tax Filing Status and Tax Rates

Different tax filing statuses

Understanding tax brackets and marginal tax rates

Deductions and Credits

Standard deduction vs. itemized deductions

Common deductible expenses

Eligibility criteria Up Arrow Icon

Prerequisites: MGMT X 430.31 Survey of Personal Financial Planning, MGMT X 430.391 Financial Analysis in Personal Financial Planning, and MGMT X 427.08 Fundamentals of Tax Preparation, or MGMT X 127 Federal Income Taxation, or consent of instructor

Conditional Offer Up Arrow Icon