- Introduction to the Course
- 1. Another Perspective on Wealth
- 2. Setting Personal Goals
- 3. Budgeting and Measuring Financial Health
- 4. Tax Planning
- 5. Cash Management
- 6. Understanding Credit
- 7. Consumer and Mortgage Loans
- 8. Debt and Debt Reduction
- 9. Time Value of Money 1: Present and Future Value
- 10. Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- 11. Insurance Basics
- 12. Life Insurance
- 13. Health, Long-term Care, and Disability Insurance
- 14. Auto, Homeowners, and Liability Insurance
- 15. The Home Decision
- 16. The Auto Decision
- 17. Family 1: Money and Marriage
- 18. Family 2: Teaching Children Financial Responsibility
- 19. Family 3: Financing Children’s Education and Missions
- 20. Investments 1: Principles
- 21. Investments 2: Application
- 22. Learning to Give
- 23. Decide to Decide
4. Tax Planning
This section focuses on the following six areas of tax planning:
A. Understand the principles of tax planning
B. Understand the importance of tax planning and how it helps attain your personal goals
C. Understand the Tax Process
D. Understand strategies to help lower your taxes (legally and honestly)
E. Understand the Major Tax Features of the US Tax System
Please read the chapter on "Tax Planning" (PDF)
Here are the assignments for "Tax Planning"
The following learning tools may be helpful with this chapter:
- Federal Tax Planning Worksheet (TT39) - This spreadsheet helps you calculate your Federal Taxes, including calculating your taxable income and refundable and non-refundable credits.
- Tithing Share Transfer Example (TT08) - This document is an example of how to pay your tithes and offerings in appreciated securities (securities which are worth more than you paid for them). By using appreciated securities to make charitable contributions, you get full credit for the value of the securities and do not have to pay taxes on the income or capital gains.
- Tithing Share Transfer DRS Instructions (TT08A) - This document helps explain the process of donating securites to pay your charitable contributions.
- Taxes on Security Earnings including Qualified Dividends (TT32) - This document helps explain taxes on security earnings and how different assets and earnings are taxed differently. It also helps you determine if a stock's dividend is qualified, i.e., does it receive the preferential tax rate?
- PFP Tax Section Template - This is the Template for your Tax Plan as part of your Personal Financial Plan