Individuals and Small Business Tax Planning Guide (Fourth Edition)

This is the one readable, yet comprehensive, guide to the tax, financial and estate planning issues faced by today's practitioners who advise individuals, their families and their small business enterprises. 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. This book's clear and practical approach makes the tax planning concepts covered easy to understand. Important tax developments from the Tax Increase Prevention and Reconciliation Act of 2006, Energy Tax Incentives Act of 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, new regulations, rulings, cases, and other recent developments are reflected throughout. This book also includes a free companion CD containing more than 50 practice tools. This valuable enhancement includes worksheets, client questionnaires, checklists, sample forms, and much more. Practitioners can easily access and adapt these valuable 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. Many of the topics covered include a related client letter to help practitioners communicate important tips and strategies to clients and build fee-generating appointments. Each chapter provides key points and summary reminders for at-a-glance review of core planning concepts discussed. Citations to authority are also generously provided throughout the text to help professional advisers further research areas of interest.