Tax Practice: Becoming a Tax Ninja (Half-Day Webinar) (Completed)

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Join expert Greg White, CPA, as he walks through important planning opportunities in a broad variety of areas, including making your work much easier, overlooked tax savings ideas, changing accounting methods to save clients money, and choosing the best type of entity for new clients.

Topics Covered

• Overview
• Decision Making
• Revenue Rulings - Practical Uses
• IRS Audits
• Tax Planning
• The Benefits of Payroll Taxes
• Choice of Entity
• Useful Tax Doctrines
• Passive Activity Planning
• Allocating Purchase Price - Real Estate
• Reducing Taxes - Sale of a Business
• Claim of Right
• Accounting Methods
• Taxable Years
• Using Effective Dates
• Cash Method - Bad Debts
• Loss on Inherited Property
• Making Life Easier

Learning Objectives

• Identify how to tax plan for the long term — it's more of a marathon than a sprint
• Identify the ethical decision-making process in tax practice
• Identify how to deal effectively with IRS audits
• Identify phantom income and how to avoid it
• Identify "no brainer" approaches to picking the right type of tax entity
• Identify when business receipts are not required (the Cohan rule)
• Identify how to treat business expenses that have at least some non-business purpose
• Identify how to use the IRS's interest tracing rules to create deductible interest expense
• Identify how to operate a tax practice to reduce stress and make money
• Identify the answers to tax questions that clients frequently ask

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
None

Advance Preparation
None