Description
Now available as an eBook, Tax Planning Strategies is ideal for gaining a clear understanding of many tax planning approaches and techniques that may yield substantial tax savings for individuals and small businesses. This helpful, plain-English guide focuses on the income tax issues primarily for individuals and also for businesses that need to be addressed throughout the year, as well as retirement and estate planning strategies. This new edition of the popular Tax Planning Strategies book has been completely vided to CCH’s 2013 U.S. Master Tax Guide to allow easy access to more detailed information and guidance. In addition, a handy Tax Planning Checklist provides quick reference to the pertinent tax savings strategies. Other helpful appendices include: - Tax Calendar - Income Tax Rates - Deductions Checklist Revised and published annually, CCHs Tax Planning Strategies is the perfect tool to assist in planning for this years taxes, while also taking steps to deal with next years taxes. And, as a complimentary handout available for purchase with personalized covers, it serves as an outstanding vehicle for practitioners and firms for building customer goodwill and attracting new clientele.
Chapter
Protecting Your Business Expense Deductions
Accelerating Depreciation on Your Business Assets
Expensing Business Assets Under Code Sec. 179
CHAPTER 4: INVESTMENT DECISIONS
Capital Gains Tax Treatment
Determining Your Holding Period
Offsetting Capital Gains with Capital Losses
Limitations on Capital Losses
Mutual Funds: Recordkeeping Is Key
Shifting Capital Gains Tax Through Gifts
Sale of Principal Residence
Qualified Small Business Stock
Small Business Investment Companies
Additional Capital Gains Considerations
CHAPTER 5: RETIREMENT SAVINGS
Transfer of Assets to an IRA
Inherited Funds from Retirement Accounts
Withdrawing Savings Prior to Retirement
Borrowing from Your Retirement Account
Retirement Savings Credit
CHAPTER 6: EARLY RETIREMENT AND POST-RETIREMENT STRATEGIES
Planning for Early Retirement
Asset Management and Protection
CHAPTER 7: ESTATE PLANNING—MINIMIZING ESTATE AND GIFT TAXES
Estate and Gift Tax Rates
Estate and Gift Tax Exclusion
Annual Gift Tax Exclusion
Educational or Medical Expense Exclusion
Basis of Property Acquired by Gift or Bequest
Generation-Skipping Transfer Tax
CHAPTER 8: FAMILY STRATEGIES
Determining Your Filing Status
Splitting Income Among Family Members
Personal and Dependency Exemptions
Child and Dependent Care Credit
Tax Consequences of Divorce
CHAPTER 9: EDUCATION INCENTIVES
Tuition and Fees Deduction
Coverdell Education Savings Accounts
Qualified Tuition Programs
IRA Education Expense Withdrawals
Student Loan Interest Deduction
Student Loan Cancellations
Business Deduction for Work-Related Education
Employer‘s Educational Assistance Program
Exclusion for U.S. Savings Bond Interest
Scholarships and Fellowships
CHAPTER 10: ESTIMATED TAX
Avoiding the Underpayment Penalty
CHAPTER 11: BUSINESS PLANNING
Determining Whether to Start or Buy a Business
Types of Business Organizations
Choosing the Right Business Organization
Managing and Maintaining a Workforce
Employer Health Care Mandate
Retirement Planning as Business Owner
CHAPTER 12: TAX STRATEGIES FOR THE SELF-EMPLOYED
Deducting Automobile Expenses
Buying or Leasing an Automobile
Employee v. Independent Contractor
Appendix A: Tax Planning Checklist
Appendix C: Income Tax Rates
Appendix D: Deductions Checklist