Business clients seek practical solutions to their tax issues, and this course provides advisors with effective tax planning strategies for the closely held business. Include in your advisory attach‚ case ammunition which will assist businesses in dealing with employeerelated issues, depreciation, related parties, buy-sell agreements, fringe benefits, and so on. Providing sound advice will be a money maker both for clients and your firm.
Learning Objectives
- Understand what strategies and techniques are most appropriate for businesses in dealing with employee-related issues
- Detailed discussion of finer points regarding a multitude of topics, which business and tax planners utilize to assist & advise clients
Major Topics
- Current year standards, baselines, and general business issues, including recently passed and or proposed legislation
- Are your clients taking full advantage? The broad inventory of fringe benefit possibilities
- Strong passwords and advanced mathematics
- Medical benefits: Long-term care, HSAs, cafeteria plans, COBRA compliance, disability
- Comparing vehicle depreciation over first 4 years for auto buying
- 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?
- The Light Brigade failed due to poor instructions, let us follow the right path in basis calculations
- Hiring family members: Several benefits in addition to income splitting and shifting
- C corporations: Are they qualified personal service corporations?
- Is cash basis accounting for service corporations in jeopardy?
- Basis triad review
- Utilizing buy-sell agreements
- Employing life insurance in business
- Related-party transactions: Making them work
- Expounding travel and entertainment
- Methods of accounting: When do you use accrual instead of cash? When can you use cash?
- Shortened depreciation schedules due to tax friendly safe-harbors
