Tax Planning
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Tax Planning Tips for Cutting 2017 Income Taxes – Tax Reform Edition
There’s still time left for you or your clients to cut their 2017 tax bills. The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added ...
Estate Planning Part III – Bypass Trusts
In the final part of my estate planning series, I would like to tackle more complicated themes that build on the first two parts. The first thing that I would like to discuss in this article is a trust that was once used frequently before portability.
Estate Planning Part II – When You’re Not Subject to Estate Tax
Just because you don’t have a taxable estate doesn’t mean that you shouldn’t do estate planning. If you die without an estate plan, then you die testate, meaning your assets will be divided up according to state law. Everyone needs some sort of an ...
Estate Planning Part I – Passing Along Your Business to Your Children
Most business owners want the same thing; they want to pass on their business to their kids. Others may want to sell the business, and some just want to give it away. However, all these options have unique tax concerns that must be considered.
Report Analyzes Estate Planning Tax Strategies for Sales to an Irrevocable Trust
Thomson Reuters has released a special report, Sales to Intentionally Defective Irrevocable Trusts, which discusses the sale to an intentionally defective irrevocable trust (IDIT) in exchange for its promissory note. The report establishes that the ...
2016 Review of Income Tax Planning Systems
If taxes remained the same from year to year, there would be no need for tax planning. But as a professional, you know how valuable tax planning is; for your clients and for your bottom line. For your clients, effective tax management can often ...
2016 Review of Intuit Lacerte Tax Planner
Ideal for small to mid-sized firms, Lacerte Tax Planner, from Intuit, offers an easy to use tax planning product that is well suited for those looking for a stand-alone product, as well as those wishing to integrate with other Intuit financial products.
2016 Review of Thomson Reuters Planner CS
Thomson Reuters Planner CS : https://cs.thomsonreuters.com/planner Best Fit: Firms of any size that are currently or planning to use CS Professional Suite of applications with gain the most benefit using Planner CS. Product Strengths: Product offers excellent integration with other CS Professional Suite of applications Excellent report customization and built-in word processing capability Numerous deployment […]