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Description:
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Prerequisites; 45811- Investment Analysis or Instructor's Permission
Tax considerations have a major impact on the way in which financial transactions are structured and how investors behave. The course will focus upon important aspects of taxes for wealth management. This course will examine the impact of various aspects of the taxation of investment returns upon the structuring of financial transactions and contracts, investor portfolio strategies, and the pattern of asset returns. The course will begin with a discussion of the tax code (current and past) and an overview of life-cycle investing and insurance products. Most of the course will focus on the impact of various features of the tax code. The topics to be discussed include the deductibility of interest expense, pricing of taxable and tax-exempt bonds, clientele investment effects, tax options and the investor strategies for realizing gains and losses, taxes and life-cycle asset allocation, the tradeoffs between tax-deferred (retirement) and taxable investments, investment organization and estate planning. A variety of business problems will be analyzed in the course. The course requirements include several problem sets, a case presentation (in the second half of the course) and a final exam. (Rev. 11/08)
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