Business clients seek practical solutions to their tax issues, and this course provides advisors with a wide berth of tax planning strategies and ideas for the closely-held business. Providing sound advice will be a money maker both for clients and your firm.
- Department of Labor overtime regulations, what has changed, what has NOT changed, tips for identifying employees who need reclassification
- Five common misconceptions regarding overtime laws
- The latest on depreciation and safe harbor expensing options, including the $2500 de minimis expense item
- 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?
- Qualified personal service corporations -- is the cash method of accounting in jeopardy?
- 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
- 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, depreciation, related parties and more
- Understand how to structure buy-sell agreements
- Understand how to successfully transition new DOL regulations
Who should take this course:
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
Experience with business clients