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Reducing Tax Payments with State Transferable Tax Credits

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: August, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Most tax credits are not transferable.
    3 mins
  • State transferable tax credits are a triple win.
    12 mins
  • Traditionally, transferring tax credits requires a lot of resources.
    18 mins
  • Imagine copying that truth on thousands of computers around the world.
    26 mins
  • Afloat is a smart contract automating these transfers algorithmically.
    35 mins

Course Description

Over 36 states have at least one legally transferable tax credit. Federal and state governments grant tax credits to promote specific behaviors that benefit the economy, the environment, or anything else the government deems important. For example, a tax credit is available that rewards people for installing solar panels for home use. Other tax credits help offset the costs of child and dependent care, education, and adoption.

These tax credits are statutory tax-based offsets that are used by federal, state, and local governments to incentivize and encourage business activity that benefits the jurisdiction. 

In addition to transferable federal credits like low-income housing and historic conservation credits, some of the most common credits offered by states include preservation, film, and land preservation credits. Governments create these tax credits to incentivize behavior.

Key topics covered in this CE Tax webinar are:

  • Benefits of State Transferable Tax Credits
  • Blockchain Technology
  • Bitcoin 
  • Hash function
  • Weaving the concept of wallets and bitcoin together
  • How taxpayers could feel connected to their tax payments

This CE/CPE course will help you to understand everything about reducing tax payments with state transferable tax credits.

Learning Objectives

  • To discuss the benefits of Transferable Tax credits.
  • To identify different non-transferrable credits.
  • To review State transferable tax credits.
  • To identify resources required for transferring tax credits.
  • To explain Blockchain.
  • To analyze the transfer of Tax credits like Bitcoin.

Recommended For

  • This IRS-approved CE course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, Tax Preparers, and Other Tax Professionals who want to reduce their tax payments with the help of tax incentives.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1009)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01226-22-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01226-22-S)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01226-22-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. 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.

Presenter

About Presenter

Louise Reed, CPA (US)

Founder, Afloat,Inc.

Louise W. Reed, CPA, is the founder of Afloat, Inc., a company that utilizes blockchain technology and smart contracts to automate the exchange of state transferable tax credits. Reed received her master’s degree in Physics from Duke University and Master of Accounting from University of North Carolina-Chapel Hill. As an accountant, she has billed in Bitcoin since 2021.

About Company

Afloat,Inc.

www.stayafloat.io

Afloat provides a transparent real-time marketplace for the automatic transfer of state tax credits.  We encourage buyers to utilize tax credits to control how their taxes are spent while also saving taxes in the process.

Faq

FAQs content

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