Course Detail

Practical Planning Boot Camp: S Corporations and LLCs (TCBU)

Description:

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 employee-related 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.

Highlights:

  • Current year standards, baselines, and general business issues, including recently passed legislation Lower tax rates; the cost of operating as a C corporation has gone down
  • The Qualified Business Income deduction: Will this offset lower C corporation rates?
  • Personal Service Corporation planning is reversed, the disincentive of a higher tax rate is gone, yet the incentive of cash basis remains
  • Are your clients taking full advantage? The broad inventory of fringe benefit possibilities
  • What happened to the DOL "Overtime Rule"? Grammar police and the $5 million comma
  • Strong passwords and advanced mathematics Medical benefits: Long-term care, HSAs, cafeteria plans, COBRA compliance, disability
  • Planning an auto purchase? Comparing vehicle depreciation over the first four years
  • 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 Basis triad review
  • Utilizing buy-sell agreements
  • Employing life insurance in business
  • Related-party transactions: Making them work
  • Shortening of depreciation schedules due to tax friendly safe-harbors

Objectives:

  • Understand what strategies and techniques are most appropriate for businesses in dealing with employee-related issues
  • Detailed discussion of some of the finer points regarding a multitude of topics which business and tax planners utilize to assist and advise clients

Prerequisites:

Experience with business clients

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