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Credits

Sponsored by Lorman Education
Product ID: 405619EAU
 
Credit & Course Provided by:

Tax Planning and Legal Tax Reduction Strategies

OnDemand Webinar (97 minutes)

Get the most out of your tax reductions and credits.This topic is intended to provide you with a better understanding of tax planning and legal tax reduction strategies. It's criminal to take business tax deductions to which your company is not entitled, but it's a darn shame to miss those that are lawful. Endless tampering by Congress with tax law makes it essential to review your tax planning with a professional adviser to see what strategies may be worth at least exploring. Recent Internal Revenue Rulings and Court decisions illustrate that what is often considered a routine tax assumption, in fact, isn't. Busy taxpayers and their advisors are frequently prone to overlook common or perhaps not-so-common tax traps, resulting in adverse tax consequences to the business and/or its owners. This material will help you learn just how much confusion abounds relative to the taxability of certain types of income, how to legitimately avail yourselves of legitimate deductions and many other "clear as mud" issues. This information will give you solid ideas and answers to questions you may not have even realized you and your clients had and gain practical applications you can apply to your business.

Authors

William M. Gerhardt, J.D., LL.M. Taxation, Gerhardt Law Firm, PLLC

Agenda

Reduction of Income Tax

• Small Business Tax Law Changes

• Qualified Retirement Plans

• Accountable Plans

Business Tax Deductions

• Write Off Obsolete Equipment and Inventory

• Maximize the Section 199A QBI Deduction

• Bonus Depreciation and §179 Election

Year-End Planning

• Accelerate Bad Debts

• Accelerate Employee Bonuses

• Accelerate Expenses

• Defer Income or Gain