Tax Talk Today - The Task Show For The Tax Pro

Casualties, Condemnations, Thefts, and Other Personal and Business Misfortunes

Tuesday, June 12, 2018
You have one year from airing date to use this course as credit.
2:00 PM – 3:40 PM ET
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Continuing Education

CPE Program Knowledge Level: Update
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0123
IRS/RPO Approved Program
IRS RPO Course #: Coming Soon

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A moderated panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, looks at the tax issues faced by those suffering from a personal or business casualty or disaster loss. The program will focus on the tax deductions available for personal casualty and theft losses and the floor under those deductions. Panelists then will turn to an examination of business casualties and the difference in tax treatment for those gains or losses. Loss from condemnations will also be explored. Finally, the panel will consider the tax-free replacement of property lost through a casualty or condemnation.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the deductions available for individual and business casualty and theft losses, how the proceeds of a condemnation are treated, and the tax consequences of replacing destroyed or condemned property.

Program Learning Objectives

1) Identify the deductions available to individuals suffering from a casualty or theft loss.

2) Identify how business casualty gains or losses are treated under the tax code and how that treatment differs from individual casualty gains or losses.

3) Identify how proceeds from a condemnation are taxed.

4) Identify the tax consequences of replacing destroyed or condemned property with new property directly, or through control of a corporation.

Program Outline


Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the
Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.