Tab 1: Client Handouts
Formation and Start-Up, Personnel and Compensation, Financing, Fringe Benefits, Retirement Plans, Travel, Meals and Entertainment, Dealings With Owner, Business Dispositions, Valuation, Buy/Sell Agreements, C Corporations, S Corporations, LLCs and Partnerships, Sole Proprietors, IRS, Cost Recovery
Tab 2: Formation and Start-Up
Types of Business Entities, Business Owner's Objectives, Tax Considerations, Nontax Considerations, Advantages and Disadvantages of Each Entity, Business vs. Hobby, Business Plans, Working With Start-Up Business Owners, Federal Tax Responsibilities, State and Local Sales Taxes, State Franchise Taxes, Licenses, Facilities Issues, Facility Alternatives, Risk Management (Insurance), Selecting a Tax Year, Tax Year Restrictions By Entity, Choosing a Tax Accounting Method, Cash Method Accounting, Accrual Method Accounting, Preparing a Tax Calendar, Setting Up Workpaper Files, Reviewing Tax Filings, Recordkeeping, Expenses Incurred to Form or Start a Business, Generating Business, Increasing Customer Demand
Tab 3: Personnel and Compensation
Hiring Employees, Employment Laws, Employing Family Members, Employee vs. Independent Contractor, General Compensation Considerations, Tax Credit for Hiring Targeted Employees, Nonqualified Deferred-Compensation Plans, Income Inclusion Rules (IRC §409A), Restricted Stock, Section 83(b) Election, Employer Stock Options, Incentive Stock Options (ISOs), AMT Aspects of ISOs, Nonqualified Stock Options (NQSOs), Stock-Based Compensation
Tab 4: Financing
Steps To Obtain Financing, Determining the Amount of Financing Needed, Types and Sources of Financing, Equity Financing, SBA Guaranteed Loans, Choosing Among Financing Alternatives, Preparing a Financial Proposal, Worksheet For Determining the Borrowing Capacity of a Company's Assets, Summary of Key Characteristics of Exempt Offerings, Financing Resources on the Internet
Tab 5: Fringe Benefits
Fringe Benefits in General, Withholding and Depositing Payroll Taxes, Employer-Provided Autos, Valuing Personal Use of an Employer's Car, Employer-Provided Health Coverage, Health Savings Accounts (HSAs), Employer-Arranged Disability Coverage, Group-Term Life Insurance, Dependent Care Assistance, Qualified Educational Assistance, Qualified Adoption Assistance, Employee Achievement Awards, Frequent Flyer Miles/Employer Aircraft Use, Employer-Provided Meals and Lodging, No-Additional-Cost Services, Qualified Employee Discounts, De Minimis Fringe Benefits, Working Condition Fringe Benefits, Transportation Fringe Benefits, Qualified Moving Expenses, Qualified Retirement Planning Services, On-Premises Athletic Facilities, Cafeteria Plans, Special Rules for Partnerships, Special Rules for S Corporations
Tab 6: Retirement Plans
Retirement Plans-Overview, Flowchart for Plan Selection, Special Rules for Qualified Retirement Plans, Filing Requirements, Qualified Retirement Plan Limits, Profit-Sharing Plans, Stock Bonus Plans, Money Purchase Plans, 401(k) Plans, Plan Requirements (2009), Safe Harbor 401(k) Plans, Roth 401(k) Accounts, One-Person (Solo) 401(k) Plans, SIMPLE 401(k) Plans, Defined Benefit Plans, Setting Up a Qualified Retirement Plan, SEP Plans, Salary Reduction SEPs (SARSEPs), SIMPLE IRA Plans, SIMPLE IRA or SEP-Which Is Better?, Payroll Deduction IRAs, Credit for Plan Start-Up Expenses, Prohibited Transactions, Deferred Compensation Plans, Comparing Qualified and Nonqualified Plans, 2009 Employer and Self-Employed Retirement Plan Chart, Retirement Plan Inflation Adjusted Amounts
Tab 7: Travel, Entertainment, Home Office, Other
Traveling Away From Home, Deductible Travel Expenses, Meal and Entertainment, 50% Limit on Deductions, Recordkeeping for Travel, Meals and Entertainment Expenses, Reimbursing Employees for Business Expenses, Car Allowances, Per Diem Reimbursements, Home-Based Businesses, Partner or S Corporation Shareholder Expenses, Deduction for U.S. Production Activities, Maximizing Depreciation Deductions, Section 179 Deduction, Special Depreciation Allowance, Federal Per Diem Rates Table, List of High Cost Localities
Tab 8: Dealings With Ownert
In General, Paying Rent and Royalties to C Corporation Shareholders, Pass-Through Entity Rental Arrangements, C Corporations-Loans From Shareholders, C Corporations-Loans to Shareholders, Pass-Through Entities-Loans From Owners, Pass-Through Entities-Loans to Owners, Transactions Between Partnerships and Partners, Other Related Party Rules
Tab 9: Business Dispositions
Business Gains and Losses, Sale of a Business-Asset Sale, Sole Propreitorships, Partnerships or LLCs, C Corporations, S Corporations, Installment Sales, Corporate Liquidations, Treating Stock Purchase as Asset Purchase (Section 338 Elections), Tax-Free Reorganization Dispositions
Tab 10: Valuation
Why Is Valuation Important?, When is Valuation Needed?, Valuations Terms and Principles, Valuation Approaches and Methods, Other Valuation Methods, Evaluating a Valuation Report, Selecting Valuation Methods for Different Types of Businesses, Valuing Professional Practices, Discounts and Premiums, Flowchart to Select Methods, Comparison of Valuation Methods, Checklist for Review of Valuation
Tab 11: Buy/Sell Agreements
What Are Buy/Sell Agreements?, Types of Buy/Sell Agreements, Setting Purchase Price, Choosing Triggering Events, Funding Mechanisms, Restricting Ownership Transfers, Planning for Owner?s Disability, C Corporation Redemptions, C Corporation Cross-Purchases, S Corporation Considerations, Partnership/LLC Considerations, Estate Tax Planning Uses, Sample Redemption Buy/Sell Agreement, Diagrams Showing Basic Buy/Sell Strategies
Tab 12: C Corporations
Why Incorporate?, Incorporation and Capitalization, Using Multiple Corporations, Dividends Received Deduction, Charitable Contribution Deduction, Capital Losses, Net Operating Losses (NOLs), Reasonable Compensation, Dividends to Shareholders, Tax Planning with Dividends, Earnings and Profits (E&P), Redemptions, Corporation Penalty Taxes, Planning to Avoid PHC Status, Accumulated Earnings Tax (AET), Personal Service Corporations, Reorganizations, Regulatory and Case Law Rules for Reorganizations
Tab 13: S Corporations
Deciding Whether to Be an S Corporation, Corporations Not Eligible for S Status, Number of Shareholders Limit, One-Class-of-Stock Rule, Eligible Shareholders, Using QSSTs and ESBTs, Electing or Voluntary Terminating S Corporation Status, How S Corporation Distributions Are Taxed, Elections to Save Taxes on Distributions, Using Debt to Increase Shareholder Basis, Distributions After S Election Terminates, S Corporation Compensation Strategies, Renting Home Office Space to an S Corporation, Reorganizations, Qualified Subchapter S Subsidiaries (QSubs)
Tab 14: LLCs and Partnerships
LLC and Partnership Basics, LLC-Specific Considerations, Quick Guide to Partnership/LLC Tax Law, Electing Out, Formation Issues, Checklist for Property Contributions, Checklist for Contributions of Services, Management and Operating Issues, Favorable Partnership Tax Rules, Basis From Partnership Debt, Basis Adjustment Upon Interest Transfer, Tax-Free Property Transactions, Special Tax Allocations, Family Income Shifting, Cash Method Accounting, Partner Interest Expense Deduction, Tax Allocations?Contributed Property, Partnership Distributions, Partnership Terminations, Unfavorable Partnership Tax Rules, Family Limited Partnerships, Checklist for Reviewing Partnership Agreements
Tab 15: Sole Proprietors
Comparing Sole Proprietorships to Other Entities, Allocating Expenses to SE Income, Proprietorship Recordkeeping, Employing Children in a Sole Proprietorship, Employing a Sole Proprietor's Spouse, Renting Property to the Proprietor Spouse, Self-Employed Health Insurance, Business Use of Autos, Roth IRAs, Single-Member LLCs
Tab 16: IRS Information and Tax Law Changes
Business Publications, IRS Phone Numbers, Small Business Resources, Audit Techniques Guides, IRS Statistics, American Recovery and Reinvestment Act of 2009, Summary of 2008 Tax Act Changes Impacting Business Tax Planning, Recent Prior Tax Law Changes, 2007?Early 2009 Tax Legislation Identifier, Selected Federal Tax Provisions Expiring 2008?2010
Tab 17: Index
Easy-to-use Topical Index
