Review a compact Certified Public Accountant Tax Compliance and Planning (CPA TCP) cheat sheet for individual tax planning, entity compliance, entity planning, property transactions, basis, elections, and planning tradeoffs before Finance Prep practice.
Use this CPA TCP cheat sheet as a short tax-planning checklist before mixed practice. CPA TCP means Certified Public Accountant Tax Compliance and Planning; the section rewards candidates who connect tax compliance facts to planning tradeoffs for individuals, entities, owners, and property transactions.
| Item | CPA TCP cue |
|---|---|
| Provider | AICPA |
| Section | Tax Compliance and Planning (TCP) |
| CPA Exam role | Discipline section |
| Time reference | 4 hours |
| Passing score reference | 75 |
| Practice format | 68-question MCQ diagnostic plus topic drills and mixed practice in Finance Prep |
| Area | Weight | What to know | Common trap |
|---|---|---|---|
| Individuals and Personal Financial Planning | 30-40% | income, deductions, credits, retirement, estate, gift, and planning implications | choosing the lowest tax result without considering timing or eligibility |
| Entity Tax Compliance | 30-40% | C corporation, S corporation, partnership, filing, basis, distributions, allocations | mixing entity-level and owner-level tax effects |
| Entity Tax Planning | 10-20% | entity choice, transactions, compensation, distributions, elections, restructuring | ignoring non-tax business constraints |
| Property Transactions | 10-20% | basis, depreciation, amount realized, character, loss limits, deferral | confusing realized, recognized, and taxable effects |
After each CPA TCP set, write the taxpayer, entity type, basis effect, timing, and planning objective. If misses cluster around entity planning, drill compliance and planning pages side by side so you do not separate tax reporting from tax strategy.