In the fluid economic environment, clients must protect their income from taxes. This course presents the most important income tax planning ideas wealthy clients and closely-held business owners need to consider in 2015 to take advantage of the present and plan for the future. It highlights areas in the income tax return that suggest future opportunities for the individual client.

Major Topics:

  • Review current tax proposals
  • Reading a tax return for developing client-specific tax strategies
  • Compensation and fringe benefit issues
  • Is the client in the right mix of investment vehicles?
  • Identify clients with investment income tax problems and the potential ways to reduce or eliminate them
  • All in the family: Tax tactics for spouses, children, and parents
  • What is new in health care that CPAs need to know

Learning Objectives:

  • Identify areas where individual taxpayers are not taking full advantage of the Code
  • Know the directions in which taxes are changing or are likely to change and how that affects planning

Designed For: All practitioners involved in tax planning for individuals who need to go beyond basic tax and financial planning techniques
Level of Knowledge: Intermediate
Prerequisite: Experience in individual income tax planning and income tax return preparation
Advanced Preparation: None
Credits: 4