Individuals and Small Business Tax Planning Guide

comprehensive guide to the tax, financial, and estate planning issues faced by today's practitioner who advise individuals, their families and their small business enterprises in our changing economic environment. Noted authors and tax experts Sidney Kess and Barbara Weltman cover a wealth of timely tax planning areas that affect individuals and small businesses based on their decades of tax planning research, analysis and practice. It's clear, practical approach makes the tax planning concepts covered easy to understand and the more than 50 practice aids included in the book's companion CD-ROM make those concepts easy to apply in practice. Important tax developments from the Jobs and Growth Tax Relief Reconciliation Act of 2003, the Military Family Tax Relief Act of 2003, new regulations, rulings, cases and other recent developments are reflected throughout. New topics have been added with this edition to provide an even greater treatment of important tax planning issues, AMT planning (an entire new chapter has been added) Flexible Spending Arrangements (FSA), including coverage of over-the-counter medications Health Savings Accounts (HSAs) Home sale exclusion clarifications IRS initiatives that will save clients money New for this Edition, a free companion CD-ROM containing more than 50 practice tools has been added. This valuable enhancement includes worksheets, client questionnaires, checklists, samples forms, and much more. Practitioners can easily access these automated tools to meet their own practice needs and programs. More than a reference guide, this insightful volume goes beyond simply explaining the related tax rules to making planning a multi-dimensional solution of issues. Tips, warnings, practice pointers, helpful illustrations and charts are peppered throughout to provide guidance in answering client questions and identifying strategies that tax professionals can present to taxpayers.