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16.0 Credits

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.


  • 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

Major Topics

  • 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?

Designed For

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