Early Bird Fees (through 9/8)
After 9/8, add $50 to your fee.
CPE: 8 hours
Vendor: Surgent McCoy CPE
Prerequisites: Experience with business clients
Advanced prep: None
Who should attend: 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
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.
• 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 a business can experience in dealing with related parties
• 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?
• Deferred compensation
• 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?