CPAs in public practice who assist clients with income tax compliance and plans find that even routine matters can have complexities, alternatives and uncertainties.
The simplest matters can involve various issues and ambiguities, even in the field of accounting. Those who assist clients with income tax compliance and plans find that routine matters can entail complexities, alternatives, and uncertainties.
This seminar identifies income tax matters that practitioners frequently encounter and demonstrates how income tax rules apply in everyday situations. In order to enhance the practicality of the seminar, the seminar presents topics as practical issues rather than technical details. After providing general background information for each issue, the seminar emphasizes opportunities, problems, suggestions, and plans for each topic.
This seminar provides an opportunity for practitioners, who routinely deal with income tax, to focus on issues they frequently encounter. Many participants take this seminar on an annual basis because the content relates directly to client situations and timely topics are added each year.
- Taxation for select sources of income — including active business income, small business deduction, employees vs. contractors, personal services businesses, and investment income
- Remuneration issues — including salary vs. dividends, bonuses payable, and family member income splitting
- Expenses and assets with personal and business elements — including meals and entertainment, automobiles, and taxable benefits
- Shareholder benefits and loans issues — including debit balances
- Timely and topical practical matters
- Newsworthy and notable information — including recent developments
- Challenging ethical situations encountered in tax practice
By the end of this course, participants should be able to:
- Evaluate and characterize sources of income and develop remuneration strategies
- Recognize, assess and advise on shareholder benefit and loan problems
- Identify best practices for expenses/assets with personal and business elements
- Discover newsy and notable recent income tax developments
- Analyze ethical considerations related to providing tax services to clients
WHO WILL BENEFIT
While all tax professionals, whether seasoned or new, will gain new insights from this seminar, this seminar particularly targets practitioners who deal with small and medium-sized owner-managed businesses. Practitioners, transitioning to take on more owner-manager planning responsibilities, will find the course to be a valuable training resource.