This title provides the latest techniques for building and conserving wealth through proactive tax-planning and investment strategies. Completely updated for tax law changes, this book will bring you up-to-date on the latest strategies that will keep more money in the hands of clients and make their accountant look like a hero!
This book will help:
- Determine when selling capital assets, business assets, and real estate are to a client's advantage
- Apply like-kind exchange rules under Section 1031
- Identify ways to advise clients on how to minimize taxes on employer stock options and employer stock held in qualified retirement plan accounts
- Differentiate between incentive stock options (ISOs) and nonqualified stock options (NQSOs)
- Determine ways to help clients obtain maximum tax savings from vacation home and timeshare properties
- Differentiate between the rules for "regular" vacation homes, timeshares, and co-ownership deals
- Determine appropriate federal income tax advice for clients who are separated, divorcing, or divorced
- Recall ways to help middle-class clients identify college financing tax breaks
- Identify tax-saving college financing manoeuvres for higher-income clients who are ineligible for the well-known education tax breaks
- Identify strategies of husband-wife businesses that will reduce Social Security and Medicare taxes
- Identify strategies for how parents can employ their children through their closely held business