FNCE 3203 – Income Tax Planning

(3 credits) 3 hours lecture

This course is designed to help financial planners build the knowledge and judgement necessary to guide clients in managing their business and financial assets. The course examines how various business forms (including proprietorships, partnerships, and corporations) are structured and taxed, and how they can be used to generate wealth for the owner/manager or the passive investor. It reviews the taxation of employment income and benefits, with an emphasis on ways to increase an individual’s compensation without necessarily increasing his/her taxable income. This course also explores the taxation of investment income, including property income, interest, dividends and capital gains, and reviews the main deductions available for various income sources. This is followed by a discussion of how an individual can make use of the different tax strategies available to maximize his or her wealth accumulation.