Free Resources
Affiliations
Navigating The Controlled Group, Attribution and Affiliated Service Group Rules to Build a Successful Tax Plan
“The IRS controlled group and affiliated service group rules provide the foundation for identifying whether two or more employers need to be grouped together and treated as one employer for many benefit plan purposes.
This can crush even the best tax plan’s intention of reducing taxable income through fringe benefits and other “go-to” strategies. In this class we’ll review the laws and learn how to get around them, and when to proceed with caution to reduce audit risk.”
You Have the Right to Remain Silent
“I recently had the “opportunity” to testify as a fact witness for the government in a criminal tax trial. The defendant is a former client from over a decade ago and purchased a tax plan and compliance. My testimony covered 3 days and I’ve never been so happy to NOT talk about tax as I was leaving the courtroom the last day.
There are many lessons learned in this experience. So many, I’ve written an entire class to share this knowledge with all of you. Want to learn the verdict? The takeaways? How IRS criminal division and the US attorney’s office look at what we do at CTC?”
Listed Transactions – How To Avoid The List And What To Do If You Find Yourself On It!
“A listed transaction is a transaction that is the same as or substantially similar to one that the IRS has determined to be a tax avoidance transaction and identified by IRS notice or other form of published guidance.
We’ll cover newest items to hit the list, how to complete and file Form 8886, and how to properly disclose this information to your taxpayer.”
Part Two: Top Business Tax Mistakes and How to Avoid Them
“With so many regulations and changes in tax law, it’s tough these days to prepare the perfect tax plan or return the first time around.
Join us as we discuss the significant mistakes tax pros make with businesses and more importantly, how to avoid them. We’ll look at S corps, LLCs and C corps, as well as Department of Labor changes and what tips and tracks exist for small closely held businesses.”
Part One: Top Business Tax Mistakes and How to Avoid Them
“With so many regulations and changes in tax law, it’s tough these days to prepare the perfect tax plan or return the first time around. Join us as we discuss the significant mistakes tax pros make with businesses and more importantly, how to avoid them.
We’ll look at S corps, LLCs and C corps, as well as Department of Labor changes and what tips and tracks exist for small closely held businesses.”
Special Guest: New Direction IRA
“Join us with special guests Clay Malcolm and Larry Stone as we explore the overlooked benefits buried in §§ 408 and 401, Individual Retirement Arrangements (IRAs).
You’ll learn that securities are only a small part of what is available for investment and that “alternative” assets such as real estate, private lending, private placements, and precious metals are all possible and legal.”
Carryforwards – Hidden Cash in Your Clients’ White Paper
“We’ve all keyed them in for a brand new client, but do you ever stop to consider how to use carryforwards to create tax savings? Join us as we discuss the most common forms of carryforwards: tax credits, deductions, and losses and we’ll examine how to apply them for immediate tax reduction.”
Want to know how Mark Zuckerberg wrote off $45 billion??
“Even if your clients have significantly less money than the founder of facebook, the Charitable LLC strategy can help save or eliminate income taxes, capital gains taxes and estate taxes while providing a tax – free inheritance for heirs and creating extra cash flow NOW.”
Discover Hidden Profit Centers in Your Tax Business
“When Did You Last Grow Profits by More Than 100%?
Learn the 5 simple steps you can take in your practice to double your bottom line by the end of the year! In this free online course, you’ll learn an easy to apply formula you can start using today to raise your net profits, afford better help, and enjoy more time off!”
Tax Planning Flops
“In tax reduction, there are many things that can go wrong. Many popular strategies get passed through the grapevine and are misunderstood or expired. During this class we’ll take a look at popular ideas such as fiscal year end planning, home offices in an S corp, MERPs, among other ideas to see what we can learn. “
Tax Strategies for Selling Assets
“Many buyers and sellers of businesses put tax issues on the “back burner” and don’t consider tax consequences until after a deal is struck, including a deal on purchase price. Ignoring tax considerations at the outset of a transaction is a big mistake and can put the taxpayer in an adverse negotiating position, even if the letter of intent that was signed was “non-binding.”
In this program we’ll examine the effect of assets sales as it relates to different types of entities and strategies to reduce the capital gains tax.”
Wacky Tax Write Offs
“Thinking outside the box; wacky and quirky tax write-offs you shouldn’t miss!”
Estate Tax Planning
“This month we’ll focus on wills, living trusts, gifts, marital property, and probate avoidance. We’ll also look at effective strategies for reducing estate tax for high net-worth individuals such as FLPs, CRTs, and ESOPs.”
Succession Planning and the Tax Strategy: How to Help Your Clients Create an Exit Plan
“A major problem facing any business owner is preserving the value of the business from one generation to the next. Addressing your client’s long term plans for their business is essential to any tax plan.
Planning for how to shift ownership of the business also offers tax benefits and liability protection to the owner during his lifetime.”
Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs
“It’s time! One of the more difficult areas of tax planning is planning for partnerships and LLCs. Changes to the partnership owners as well as distribution of property to the owners can trigger tax – and a lot of it! 754 is a strategy that can help mitigate this burden and can help partners recover tax basis they would otherwise lose is this important election was not in effect.
We’ll be covering how and why to make the election, the effect of the election, and how to allocate basis adjustments.”
Using a Communication Tools to Sell Tax Plans
“It’s time to look at how to make the 4th quarter your biggest cash flow month of the year. To help you accomplish this goal, I created a tool to assist you in your conversations with clients and prospects.
I call it the, “CTC Talking Tool.” You may have experienced tools like this before while opening a bank account or choosing an insurance plan. The talking tool aids the salesperson in better describing the problem and solutions to customers using illustrations and subliminal messaging.
Be sure to attend our September CYCE class on Monday, September 21, 2015 at 4:00pm eastern (1:00pm pacific) when I’ll be teaching you how to effectively use the new talking tool during your tax discovery sessions (mini tax planning sessions). If for some reason you cannot attend live, please schedule some time on your calendar to review the recording. This is one class you do not want to miss!”
What is a Section 351(a) Tax-Free Exchange?
“It would seem that contributions to a corporation is a simple transaction. Not much can go wrong. Would you believe it may cost your client additional tax? Generally, transferring property into a corporation in exchange for its stock is a taxable event. The transaction is treated as if you sold property to the corporation in return for cash.
The difference between the stock value received and the tax basis in the property transferred to the corporation will result in a gain or loss. However, there is an opportunity under Section 351 – a valuable loophole which can even provide a way to remove appreciated property from certain entities.
Join us as we look at the pitfalls and opportunities from this valuable strategy and open new possibilities for your clients. QVYJ7-T-00103-15-O”
Reasonable Compensation for Shareholders of S-Corps
“Equitable-Recompenseophobia: The fear of determining one’s Reasonable Compensation A phobia is defined as a persistent fear of an object or situation that is typically disproportional to the actual danger posed. Does this describe your reaction when you think of Reasonable Compensation? This phobia is easily overcome by understanding the law, important court cases and the best way to defend your position.
Join us as we review the advantages of distributions from S corps over salary, IRS authority to re-characterize distributions as wages and guidelines for how to help your clients determine their appropriate level of pay.”
Using Tru Tax Planner to Calculate Savings
“Tru Tax Planner gives you the ability to expertly forecast taxes and identify the most advantageous strategies for clients and prospects. Simply enter the tax data, enter the tax effects of your ideas, and instantly run side by side comparisons of how your ideas impact tax rates and liabilities.
We’ll be using case studies from our 2015 “Tax Shark Tank” to demonstrate how to use this valuable new planning tool. Sharpen your skills in tax return evaluation, calculate savings, and communicate your value.”
Business Credits and Incentives: 15 programs you need to know about today
““Many businesses are eligible for annual tax credits if they have locations in certain Federal and State zones or have employees who reside in them. These location based tax credits offer special incentives for business investment and job creation, but many go unclaimed because business owners and their current accountants don’t realize they may be eligible.
What if you created a target market based on qualifying businesses in these areas; can you imagine the possibilities of attracting new premium fee business using the thousands in savings created by tax credits? In this class we’ll examine the most popular credits and learn how to apply the rules. In addition, we’ll discuss how to use these credits as a magnet for attracting new, premium fee business.”
Where Do We Go From Here?
“It’s April 20th and we can finally breathe again! Don’t let that tax season hangover last too long and delay the momentum in your planning business! In this 90 minute session, we’ll look at what to do RIGHT NOW, to get back on track, plan for the rest of the year, and key insights to track from your tax season results. We’ll also review average pricing studies, how to stop competing on price alone and “Value Based Services” that can eliminate your competition and transition you from trading time for dollars to premium fee billing.”
Say What?? Update on Final Repair Regulations and Their Implementation
“Cost capitalization has undergone a major change since the final repair regs were issued in 2013. With the recent IRS Revenue Procedure 2015-20 many tax accountants are left feeling confused and fearful of Circular 230 ramifications for non-compliance. Come set your fear aside and learn what you need to know: how to implement these rules.
Determine whether you need new annual elections, or 3115 and how to calculate the dreaded 481 adjustments. Don’t forget! These changes are effective for 2014 – so get what you need to be sure you are filing correctly this tax season! Objectives:
TAX SEASON 911
“Your preparedness plan to create tax savings and survive the busiest of times without falling into old habits. Do you put your ideal business on the back burner through tax season? You know the drill: packed schedules, doing it all, giving it away, no time, and moving into “reactive mode” can spell disaster for your tax planning business. BUT you CAN manage the conflict while getting through this busy time of year and set yourself up to get back on track after April 15th.
We’ll cover the best strategies for pre-selling summer tax plans, highlighting the value you bring, and discuss the top “Last Minute Tax Fixes” that create thousands in savings for your business owner clients. Best of all, we’ll talk about time saving short cuts to position this information so you are not tricking the client into thinking all this value is included in their low cost tax prep. Your preparedness plan to create tax savings and survive the busiest of times without working one extra second!”
Brokering Tax Losses
“Brokering Tax Losses”
Estate Planning
“This month we’ll focus on wills, living trusts, gifts, marital property, and probate avoidance. We’ll also look at effective strategies for reducing estate tax for high net-worth individuals such as FLPs, CRTs, and ESOPs.”
2014 Federal Tax Update: Hottest Tax Planning Tips
“With historic tax law changes already enacted, there are a TON of new strategies to discuss with your clients. THIS is the time of year to use the leverage of the New Year’s deadline to work RIGHT NOW on creating a tax plan to take advantage of the breaks.
Get updated on the most important tax issues you need to know, and review the major trends and changes in the case and regulatory law. Included is full coverage of all tax changes with a planning perspective.
Highlights:
How tax rate changes affect tax planning for individuals and businesses
Net Investment Income Tax: planning to minimize and avoid
Historically low interest rates: strategies to use cheap money
New developments in corporate tax , LLCs and partnerships
Learning Objectives:
Understand strategies and techniques to use in light of tax changes
Understand the use of businesses in light of health care and tax changes
Understand current cases and rulings affecting individuals and businesses “
Entity Selection Workshop
“Entity Selection Workshop”
R&D Tax Credits
“Many businesses owners in nearly every industry are unaware that federal and state research and development (R&D) tax credit programs exist that can put thousands of tax dollars back into their pockets. The Research & Development (R&D) tax credit is for businesses of all sizes, not just major corporations with research labs, and many companies are surprised that they qualify. If you think you must have research labs with white-coated scientists to qualify, think again. Are you surprised to hear that barbie qualifies for R&D tax Credit? Join us for our September CYCE where we’ll take a deeper look at this valuable credit to help you earn more savings and value for your clients and prospects.”
Social Security Planning
“With the economy still in the doldrums, Boomers are rethinking retirement and will look to you for advice on how Social Security benefits will play into their plans. Learn how to advise clients who may be eligible for benefits on the ins and outs of Social Security, such as when to begin distributions and the particulars of survivor and disability benefits. You’ll gain expertise on how the earnings test works, how to sell a business to maximize Social Security benefits and how to minimize taxation of benefits.”
Tax Strategies That Avoid Taxes Altogether!
“ Tax Strategies That Avoid Taxes Altogether! General Electric, our country’s biggest corporation had a very good year in 2010. The company reported worldwide profits of $14.2 billion. GE’s tax bill? NONE! In fact, they received a tax benefit of $3.2 billion. What’s the secret to large companies paying no tax? TAX PLANNING! Join us Monday, July 21, 2014 at 4pm Eastern as we explore 3 of the most popular (and most overlooked) tax credits and strategies you can use with your clients to sweeten your tax planning services, cut your clients taxes in a big way, and net huge refunds!
In this class, we’ll examine 3 of the most popular, overlooked credits and strategies that you can use to: Select a Target Market That GUARANTEES tax plans flying off the shelf Deliver CASH IN HAND for your new prospects and existing clients by amending returns Lock in the exact incentive tax payers look for in selecting new tax advisors During this 90 Minute session, we’ll look at: Maximizing the 199 Deduction and identify the most overlooked opportunities to use this strategy Reap the rewards of Research and Development Credits – learn to speak the “R&D Language” to maximize your potential credit, improve client ROI, and “go shopping” for clients IC-DISC a BIG BREAK for anyone exporting. Learn why what sounds “too good to be true” with this tax incentive IS true and can save your clients up to 50% off their tax bill!”
Impact & Influence: Part Two
“Impact & Influence:
Be Confident and Ready to Present to Your Clients and Prospects Part Two”
Tax Business Health Checkup
“Tax Business Health Checkup”
Impact And Influence: Be confident and Ready to Present to Your Clients and Prospects
“In this 2-part CYCE series, I’ll walk you through the tax planning process focusing on the presentations needed to sell & deliver tax strategies. In part 1 on May 19, 2014, we’ll focus on the Free Mini Tax Planning Session. Continued on June 16, 2014, we’ll look at the Tax Strategy Session itself.”
Tax Return Reviewer’s Clinic
“Reviewing Tax Returns”
Net Invested Income
“Net Invested Income (NII)”
Last Minute Tax Fix
“Today’s content and that is this concept of a last minute tax fix. You know we can’t rewrite history unfortunately but we’re plagued by questions of what is it that we can possibly do to rescue our clients, especially when we see them making mistakes? And this is the time of year that we notice those types of things because we’re seeing all of their information so you may have pulled and prodded and threatened and tried to scare using all of your best tactics to get people in the door and for whatever reason
it just didn’t work out prior to the end of the year and so oftentimes it’s bad news when we’re meeting with clients during tax season about what can or cannot be done and the bad news is that unfortunately, there just isn’t a whole lot that can be done after the end of the year.”
S Corp, LLC, and Partnership Tax Update
“Just in time for tax season – we’ll be covering the latest information on tax changes affecting your pass-through entity business clients. You will learn strategies, techniques, tax-planning concepts, and income-generating ideas available to S corporations, partnerships, LLCs, and LLPs.
Learning Objectives
Understand the major current planning issues for businesses
A review of the key cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships”
Tax Business Health Checkup 2016
“Your Tax Business Health Checkup!
Using Routine Preventative Maintenance to Build Your Dream Tax Business
We’ll take a look at the 10 key factors to consider when evaluating the health of your tax business, from revenues and profits, to your own satisfaction level. They say, “An apple a day keeps the doctor away.” This class is the apple you need for your tax business!”
Land Conservation Easements
Land Conservation Easements with Jim Sullivan”
Planning for Change
“How to manage uncertainty in light of upcoming tax law proposed changes.”
Workshop: Reduce your business owner client’s exposure to employment tax
“We often use an S corporation to reduce S/E tax, but many business owner clients wish to minimize their Social Security and self-employment tax liabilities and there are other ways to accomplish this. This course gives you the background to understand what kinds of income constitute self-employment income and earned income and strategies that can be used to reduce your clients’ exposure to the Self-Employment tax.”
Determine how using a pass-through entity can reduce or eliminate employment tax for the principals and family members. Learn how hiring a spouse and/or children helps reduce self-employment tax and differentiating between income treated as self- employment income and income that is not self-employment income. We’ll also look at LP interests and why it isn’t as easy as just “checking the box” that a partner is limited as a way to avoid tax. Finally, we’ll discuss how to take a self-employed owner’s health insurance deductions against self-employment tax.”