TCBU SHORTCUTS TO TAX CUTS: BUSINESS TAX PLANNING STRATEGIES FOR S CORPORATIONS AND LLCS
Business clients seek practical solutions to their tax issues, and this course provides advisors with effective tax planning strategies for the closely-held business. Providing sound advice will be a money maker both for clients and your firm.
Hiring family members: income splitting and shifting
Maximizing depreciation deductions and applying the new capitalization and repair regulations
Taking full advantage of fringe benefits: what is available
Fringe benefit plans – how they play a larger role in getting to a lower taxable income; what choices should you consider?
Medical benefits: long-term care, HSAs, cafeteria plans, COBRA compliance, disability
Health care reform: what it means to employers
Maximizing retirement benefits
Pension plans – are they now more valuable, and what are the best options? Are 401(k) plans not as good, and could defined benefit plans make a comeback?
C corporations: are they qualified personal service corporations?
Compensation planning – with potential increases of our client’s Social Security taxes, what can we do to lessen the burden?
Basis planning: at-risk and passive considerations
Structuring the buy-sell agreement
Why businesses need life insurance
Related party transactions: making them work
Travel and entertainment
End-of-year W-2 adjustment worksheets: HI, auto, group-term life
Methods of accounting: when do you use accrual instead of cash? When can you use cash?
Understand what strategies and techniques are most appropriate for businesses in dealing with employee-related issues
Understand how to structure buy-sell agreements
Understand how to incorporate family members into a business and avoid problems in dealing with related parties
Designed For: All tax practitioners, both those working in public accounting as well as those in private industry, who are responsible for tax planning for their clients and/or companies Level of Knowledge: Intermediate Prerequisite: Experience with business clients Advanced Preparation: None Credits: 8 Field of Study: Taxes(8) CFP Credit: No