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There are hundreds of fraudulent investments that crash and burn every year injuring investors from all walks of life.  These schemes result from a trade or business and those seeking profitable investments.  The losses, as a general rule in the schemes, are deductible since these investors were seeking profits. This is a business loss and such a loss may be recovered in the form of tax refunds.

Welcome to the world of Bernie Madoff. Explore a world where you can be a millionaire one day and broke the next. In this course you will identify the techniques available for defrauded investors to recover funds in the form of taxes they will not have to pay for a financial theft loss. You will also discover the legal methods of maximizing the tax refund offered from both the United States and taxes paid to almost all of the separate states, and will be able to recognize the difference between Ponzi Schemes and other types of thefts.

Learning Objectives

  • Explore a world where you can be a millionaire one day and broke the next. Welcome to the world of Bernie Madoff.
  • Identify the techniques available for defrauded investors to recover funds in the form of taxes they will not have to pay for a financial theft loss.
  • Discover the legal methods of maximizing the tax refund offered from both the United States and taxes paid to almost all of the separate states.
  • Recognize the difference between Ponzi Schemes and other types of thefts.
Last updated/reviewed: May 6, 2022

5 Reviews (25 ratings)Reviews

5
Member's Profile
Much of the information in this course was new to me; I’m looking forward to learning more about Ponzi schemes. The material was presented in such a way that it was both interesting and easy to pick up on. The instructor is obviously very knowledgeable about his subject.
4
Member's Profile
Some of the slides seemed to either have a few grammatical issues or were a bit confusing or had overlap. Could have been more straightforward or black and white.
5
Anonymous Author
Nice overview. Source materials were well laid out and supported the objectives of the course.
3
Member's Profile
interesting tax course related to ponzi schemes and impact on taxes
5
Anonymous Author
this was a good course that went over new rules for theft losses.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:36Introduction to Ponzi Scheme Theft Loss
  6:23The Amount & Timing of The Theft Loss
  12:50The Law & Internal Revenue Ruling, The Safe Harbor & The Internal Revenue Procedure and Tax Planning
  3:07Professional Tax Planning
  10:35The Safe Habor
  7:37The Safe Habor Continued
CONCLUSION
  2:03Estates & Trusts
CONTINUOUS PLAY
  47:11Ponzi Scheme Theft Loss
SUPPORTING MATERIALS
  PDFSlides: Ponzi Scheme Theft Losses
  PDFPonzi Scheme Theft Loss Glossary/Index
  PDFSupporting Document
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM