Student Question

Course: Income Tax PlanningLesson 1: Introduction to Taxation Student Question: For this question, could you send me the math behind finding the answer?  I want a better understanding of how the penalty was assessed. Thank Andrew Review Exercise: Jerry’s taxes were due April 15th. He filed his return in October of the same year, and…

Course: Investment PlanningLesson 1: Key Principles of Investing Student Question: Hey Dan, Hope you are doing well. Can you help solve a practice question?  I looked through the textbook and my notes, and just couldn’t wrap my brain about how to solve the problem below.  The confusing part to me is that the fund was not…

Course: Investment PlanningLesson 14: Evaluation Portfolio Performance Student Question: Hello – I’m a little confused about the example (below) discussing an heirloom of only sentimental value. Why would this be titled at all for a will, especially since an earlier lecture said items of no value would pass through will as the situation does not…

Course: Retirement PlanningLesson 5: Leveraging Nonqualified Plans for Small Business and Not-For-Profit Employees and Owners Student Question: Hello , I am having trouble understanding how Shared Coverage is implemented. Could you help me understand with an example?  Also, could you explain the Waiver of Premium benefits in simple words. Shared Coverage: “For couples where each…

Course: Retirement PlanningLesson 5: Leveraging Nonqualified Plans for Small Business and Not-For-Profit Employees and Owners Student Question: Hello! I am wondering why on this page it says the contribution to a SEP IRA is the lesser of 25% covered compensation or $58,000 (2021), but then it says the combined contribution for SEP IRA and qualified…

Course: Income Tax PlanningLesson 15: Property Transactions Student Question: Dear Greene Consulting Team – In the lesson, deducting donations of ‘cash’ versus ‘long term appreciated securities’ are differentiated.  I’m curious about “short term appreciated securities”.  In other words, if I own a stock – bought at $10,000 and it’s worth $50,000 when I donate, but…

Course: Fundamentals of Financial PlanningLesson 3: Personal Financial Statements Student Question: Hi What role does the client’s primary residence play in the current ratio calculation? Is their outstanding mortgage loan amount considered a liability? Thank you Candace Instructor Response: Hi Candace, That’s a great question. The residence is not considered a liquid asset and is excluded from…

Course: Retirement PlanningLesson 5: Leveraging Nonqualified Plans for Small Business and Not-For-Profit Employees and Owners Student Question: Hi TI’m trying to distinguish when the required minimum distribution amounts are at 72 years old, versus when they are 70 ½.  IRA’s are now 72, correct?  Is a 401k plan and a 403b 70 1/2? Thank you…

Course: Income Tax PlanningLesson 15: Property Transactions Student Question: Hi This page explains how the basis for inherited property is affected for common-law states and community property states. How is it affected for equitable distribution states like Florida? Thank you Anibal Instructor Response: Great question Anibal! Only marital property is subject to equitable distribution in…

Course: Fundamentals of Financial PlanningLesson 9: CFP Board Regulatory Requirements Student Question: Hi In lesson 1, for step 7, I have that a certificant is responsible for monitoring and updating only if explicitly called for in the scope of the engagement.  In Lesson 9, I’m reading that the certificant is responsible unless explicitly excluded. Which…