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Checkpoint Tax Advisors Planning System

Checkpoint Tax Advisors Planning System

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Online
Product Code:
TPPTAPS
$1,350.00

Tax Advisors Planning System (TAPS) provides planning guidance for general tax attorneys and accountants who represent closely held businesses and their owners.

The Tax Cuts and Jobs Act (TCJA) coverage for TAPS includes but is not limited to:

  • New deduction for "qualified business income". New Code Sec. 199A provides a deduction for noncorporate taxpayers for qualified business income (QBI), generally effective for tax years beginning after December 31, 2017 and before January 1, 2026. TAPS explains relevant definitions such as "qualified property", "qualified trade or business", and other terms; includes helpful examples of how the new rules work; and provides insight on the application of the QBI deduction to certain entities.
  • Accrual basis taxpayers. TAPS explains the TCJA’s amendment to Code Sec. 451(c), which provides that accrual basis taxpayers may defer inclusion of advance payments in income to the end of the year after the year of receipt if so deferred for financial reporting, effective for tax years beginning after December 31, 2017.
  • Accounting method. For purposes of determining if a C corporation may use the cash method of accounting, Code Sec. 448(C)(1), as amended, increases the average annual gross receipts ceiling from $5 million to $25 million, for tax years beginning after December 31, 2017, and provides for an inflation adjustment to that amount for tax years beginning after 2018. TAPS discusses this and other tax accounting changes in detail.
  • ABLE accounts. For tax years beginning after December 22, 2017 and for contributions made before January 1, 2026, the ABLE account contribution limitation for contributions made by a designated beneficiary was increased. TAPS explains the new rule as well other changes related to ABLE accounts.
  • Compensation. TAPS explains Code Sec. 83(i), as added by the TCJA, which provides an election to defer inclusion of income attributable to options exercised or restricted stock units (RSUs) settled (granted by a corporation in connection with the performance of services as an employee) after December 31, 2017.
TAPS also discusses TCJA amendments relating to retirement plans, depreciation, capital gains, the new income tax rates, inflation adjustments, and more.

 

TAPS is written by a national network of expert practitioners and consisting of over 43 titles (and growing), TAPS focuses on topics covering every stage of the business cycle: formation; operation; sale or transfer, even estate and compensation planning for the owners. Each title includes Commentary -- current rules of a transaction and planning insights or techniques -- and Practice Aids -- over 1100 sample agreements, business-generating client letters, election statements, wills, trusts, checklists, etc. Also included:

  • Cutting-edge strategies to help generate value for clients at every stage of the business life cycle: formation, expansion, sale or transfer, as well as estate and compensation planning for the owners.
  • Each critical topic is covered in two parts, providing quick and thorough answers to business tax questions plus the materials you need to act on them:
    • The Commentary integrates planning ideas and techniques with explanations of key tax and related non-tax issues;
    • Practice Aids include sample client letters; sample plans, agreements and clauses; charts; election statements; checklists; etc., which subscribers can customize for each of their client's needs.
  • Citations to controlling authorities
  • Top-line and side-line "Planning" buttons in Code & Regs: click on a "Planning" button and link over to TAPS' commentary and planning insights, with respect to the relevant Code or Regulation section
  • More than 1100 sample documents, agreements, election statements, client letters, charts, and checklists help you implement your planning strategy with ease

  • Title 1. Choice of Entity
  • Title 2. Limited Liability Companies
  • Title 3. Personal Service Corporations
  • Title 4. S Corporations
  • Title 5. Partnership Formation
  • Title 6. Partnership Operations & Terminations
  • Title 7. Drafting Buy-Sell Agreements
  • Title 8. Purchase or Sale of a Closely-Held Business
  • Title 9. Valuation of a Closely-Held Business
  • Title 10. Estate & Gift Planning for the Business Owner
  • Title 11. Corporate Formation
  • Title 12. Corporate Distributions, Redemptions & Liquidations
  • Title 13. Corporate Reorganizations
  • Title 14. Corporate Leasing Transactions
  • Title 15. Corporate Alternative Minimum Tax
  • Title 16. Consolidated Returns
  • Title 17. Corporate Financial Instruments
  • Title 18. Depreciation & Amortization
  • Title 19. Financially Troubled Businesses
  • Title 20. How to Structure Like-Kind Exchanges
  • Title 21. Tax Accounting
  • Title 22. Regulated Investment Companies
  • Title 23. Structuring Employee Compensation Packages
  • Title 24. Designing & Operating Qualified Retirement Plans
  • Title 25. Cafeteria Plans
  • Title 26. Self-Funded Welfare Benefit Plans
  • Title 27. Structuring International Transfers of Executives
  • Title 28. U.S. Corporations Doing Business Abroad
  • Title 29. Foreign Corporations Doing Business in the U.S.
  • Title 30. Divorce: Valuation, Tax, and Financial Strategies
  • Title 31. Techniques for Estate Planning with Life Insurance
  • Title 32. Asset Protection Planning
  • Title 33. Estate Planning Strategies Using Trusts
  • Title 34. Nonqualified Deferred Compensation
  • Title 35. Tax-Sheltered Annuities Under §403(b) and Nonqualified §457 Plans
  • Title 36. Independent Contractors and Other Alternative Employment Arrangements
  • Title 37. Designing Severance Packages
  • Title 38. Using Employee Benefits in Estate Planning
  • Title 39. Corporate Divisions
  • Title 40. Post-Mortem Estate Planning
  • Title 41. U.S. Taxation of Foreign Nationals Employed in U.S.
  • Title 42. Employee Benefits in Mergers & Acquisitions
  • Title 43. Taxation of Electronic Commerce
  • Brace for New Reporting and Disclosure Burdens Under the Section 199A Qualified Business Income Deduction View
  • Aggregation Option - Maximizing the Qualified Business Income Deduction View
  • Multiple Trusts and the Section 199A Qualified Business Income Deduction View
  • Determining W-2 Wages Under the Section 199A Qualified Business Income Deduction View

DESCRIPTION

Tax Advisors Planning System (TAPS) provides planning guidance for general tax attorneys and accountants who represent closely held businesses and their owners.

The Tax Cuts and Jobs Act (TCJA) coverage for TAPS includes but is not limited to:

  • New deduction for "qualified business income". New Code Sec. 199A provides a deduction for noncorporate taxpayers for qualified business income (QBI), generally effective for tax years beginning after December 31, 2017 and before January 1, 2026. TAPS explains relevant definitions such as "qualified property", "qualified trade or business", and other terms; includes helpful examples of how the new rules work; and provides insight on the application of the QBI deduction to certain entities.
  • Accrual basis taxpayers. TAPS explains the TCJA’s amendment to Code Sec. 451(c), which provides that accrual basis taxpayers may defer inclusion of advance payments in income to the end of the year after the year of receipt if so deferred for financial reporting, effective for tax years beginning after December 31, 2017.
  • Accounting method. For purposes of determining if a C corporation may use the cash method of accounting, Code Sec. 448(C)(1), as amended, increases the average annual gross receipts ceiling from $5 million to $25 million, for tax years beginning after December 31, 2017, and provides for an inflation adjustment to that amount for tax years beginning after 2018. TAPS discusses this and other tax accounting changes in detail.
  • ABLE accounts. For tax years beginning after December 22, 2017 and for contributions made before January 1, 2026, the ABLE account contribution limitation for contributions made by a designated beneficiary was increased. TAPS explains the new rule as well other changes related to ABLE accounts.
  • Compensation. TAPS explains Code Sec. 83(i), as added by the TCJA, which provides an election to defer inclusion of income attributable to options exercised or restricted stock units (RSUs) settled (granted by a corporation in connection with the performance of services as an employee) after December 31, 2017.
TAPS also discusses TCJA amendments relating to retirement plans, depreciation, capital gains, the new income tax rates, inflation adjustments, and more.

 

TAPS is written by a national network of expert practitioners and consisting of over 43 titles (and growing), TAPS focuses on topics covering every stage of the business cycle: formation; operation; sale or transfer, even estate and compensation planning for the owners. Each title includes Commentary -- current rules of a transaction and planning insights or techniques -- and Practice Aids -- over 1100 sample agreements, business-generating client letters, election statements, wills, trusts, checklists, etc. Also included:

  • Cutting-edge strategies to help generate value for clients at every stage of the business life cycle: formation, expansion, sale or transfer, as well as estate and compensation planning for the owners.
  • Each critical topic is covered in two parts, providing quick and thorough answers to business tax questions plus the materials you need to act on them:
    • The Commentary integrates planning ideas and techniques with explanations of key tax and related non-tax issues;
    • Practice Aids include sample client letters; sample plans, agreements and clauses; charts; election statements; checklists; etc., which subscribers can customize for each of their client's needs.
  • Citations to controlling authorities
  • Top-line and side-line "Planning" buttons in Code & Regs: click on a "Planning" button and link over to TAPS' commentary and planning insights, with respect to the relevant Code or Regulation section
  • More than 1100 sample documents, agreements, election statements, client letters, charts, and checklists help you implement your planning strategy with ease

TABLE OF CONTENT

  • Title 1. Choice of Entity
  • Title 2. Limited Liability Companies
  • Title 3. Personal Service Corporations
  • Title 4. S Corporations
  • Title 5. Partnership Formation
  • Title 6. Partnership Operations & Terminations
  • Title 7. Drafting Buy-Sell Agreements
  • Title 8. Purchase or Sale of a Closely-Held Business
  • Title 9. Valuation of a Closely-Held Business
  • Title 10. Estate & Gift Planning for the Business Owner
  • Title 11. Corporate Formation
  • Title 12. Corporate Distributions, Redemptions & Liquidations
  • Title 13. Corporate Reorganizations
  • Title 14. Corporate Leasing Transactions
  • Title 15. Corporate Alternative Minimum Tax
  • Title 16. Consolidated Returns
  • Title 17. Corporate Financial Instruments
  • Title 18. Depreciation & Amortization
  • Title 19. Financially Troubled Businesses
  • Title 20. How to Structure Like-Kind Exchanges
  • Title 21. Tax Accounting
  • Title 22. Regulated Investment Companies
  • Title 23. Structuring Employee Compensation Packages
  • Title 24. Designing & Operating Qualified Retirement Plans
  • Title 25. Cafeteria Plans
  • Title 26. Self-Funded Welfare Benefit Plans
  • Title 27. Structuring International Transfers of Executives
  • Title 28. U.S. Corporations Doing Business Abroad
  • Title 29. Foreign Corporations Doing Business in the U.S.
  • Title 30. Divorce: Valuation, Tax, and Financial Strategies
  • Title 31. Techniques for Estate Planning with Life Insurance
  • Title 32. Asset Protection Planning
  • Title 33. Estate Planning Strategies Using Trusts
  • Title 34. Nonqualified Deferred Compensation
  • Title 35. Tax-Sheltered Annuities Under §403(b) and Nonqualified §457 Plans
  • Title 36. Independent Contractors and Other Alternative Employment Arrangements
  • Title 37. Designing Severance Packages
  • Title 38. Using Employee Benefits in Estate Planning
  • Title 39. Corporate Divisions
  • Title 40. Post-Mortem Estate Planning
  • Title 41. U.S. Taxation of Foreign Nationals Employed in U.S.
  • Title 42. Employee Benefits in Mergers & Acquisitions
  • Title 43. Taxation of Electronic Commerce

RELATED RESOURCES

  • Brace for New Reporting and Disclosure Burdens Under the Section 199A Qualified Business Income Deduction View
  • Aggregation Option - Maximizing the Qualified Business Income Deduction View
  • Multiple Trusts and the Section 199A Qualified Business Income Deduction View
  • Determining W-2 Wages Under the Section 199A Qualified Business Income Deduction View