||Field Of Study
|Interactive Self Study
||Basic Understanding of Taxes
|Basic to Intermediate
Getting Cash Out Of Your Business
This course examines the various ideas, methods, and techniques capable of optimizing the overall compensation package for key employees and principals in small to medium sized businesses. Qualified and non-qualified deferred compensation, benefit targeting, insurance programs, statutory fringe benefits, interest free loans, and investment planning are investigated. Effective pay plans essential to attract, motivate, and retain key people are defined and evaluated. Consideration is given to indirect compensation in the form of business entertainment, expense accounts, auto use, travel, and transportation. Equity participation is explored through stock sales, repurchase agreements, incentive stock options, ESOTs, stock options, and bonuses. The new field of professional services is probed to provide tax, financial and estate planning to the key executive.
Who Should Attend: CPAs
CHAPTER 1 TAX ECONOMICS
CHAPTER 2 BUSINESS PLANNING
CHAPTER 3 DEFERRED COMPENSATION PLANS
CHAPTER 4 Basic Fringe Benefits
CHAPTER 5 Business Entertainment
CHAPTER 6 BUSINESS TRAVEL & TRANSPORTATION
CHAPTER 7 Insurance
CHAPTER 8 EQUITY PARTICIPATION
CHAPTER 9 ESTATE PLANNING
1. Recall four financial and tax income types noting how cash management is used to acquire and operate assets in an effective investment plan. Specify at least four significant changes recently made to taxable income, determine how the passive loss rules also categorize such income and identify three major income splitting formats that can reduce tax.
2. Recognize basic cash management techniques by stating how to generate tax-free income, identify seven current ways to and one repealed method to defer income, and recall four current techniques and one repealed method of sheltering income.
3. Identify the importance of budgeting by recalling four budgeting rules, specifying several cash usages, recognizing financial acquisition guidelines for tax-advantaged investments, and specifying multiple asset management rules.