Phone:
(800) 822-4194
(406) 556-0115
Fax:
(406) 556-0210
E-mail: wcpe@westerncpe.com
243 Pegasus Drive
Bozeman, MT 59718
Office hours:
Monday - Friday
7 A.M. - 6 P.M. MST
Seminar and Webcast Content
Comprehensive Coverage of Individual, Business, and Corporate Tax Changes for the 2008 Tax Season
Current Developments Affecting Individuals (back to top)
- Income from cancellation of credit card debt may be excluded. Find out how.
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Kiddie tax applies to college students. Avoid blunders with our planning list.
- Alimony/spousal support deduction and numerous divorce cases examined.
- AMT affects more clients. Sophisticated planning ideas detailed.
- Gambler audits increase substantially; mostly losers, but one major slot machine player wins.
- Personal exemptions and itemized deductions increase for wealthy in 2008.
- Hybrid auto credit updated. AMT is trap–learn why.
- Clothing and household goods donations–avoid restrictions.
- Cash donations NOT deductible without receipts. Make sure clients have them!
- Mortgage interest limits tested by IRS. A nasty surprise.
- Health Savings Accounts discussed in depth.
- Tax-free IRA distribution for charitable purposes extended to 2008?
- Simple but effective techniques to invest pension funds in real estate.
- Single-person 401(k) plan breakthroughs.
- Permissible excuses to avoid 60-day rollover limitations.
- Time extended to pay tax on rollover to non-spouse beneficiary.
- 14 relief provisions from 10% early withdrawal penalties. Learn how to request relief
- $1,000 preparer penalty and how to avoid it.
- "More-likely-than-not" standards for tax preparers. Anticipate changes.
- Audit rates increase again, but not for all taxpayers. Which entity can best reduce the chance of audit?
- 10 most litigated tax issues released by IRS.
Current Developments Affecting Businesses (back to top)
- New! Major repair vs. improvement regulations explained. Don't miss this!
- New! $250,000 ยง179 expensing.
- New! 50% bonus first-year depreciation.
- New! Luxury auto rules.
- New! First-year limits greatly increase deductions on annual auto depreciation.
- Major discussion on how to properly compute 6% "phantom" deduction for manufacturers, contractors, farmers, etc.
- Great planning ideas for 2008!
- Hobby loss audits expand fivefold. Learn novel techniques to retain losses.
- Spousal health insurance plan rules must be followed without exception. Which rules apply.
- New! Form 8919 cuts FICA in half for qualified workers. A huge tax savings.
- IRS's new employee vs. independent contractor audits.
- 100% trust fund penalty. Avoid it at all costs!
- New! 0% rate on dividends for certain investors starting in 2008.
- New! Self-employed health insurance deduction for S corporation owners.
- New! E-postcard for small nonprofits. Failure to file penalty has grave consequences!
- New! 2008 nonprofit Form 990 with radical changes is revealed.
- Proven strategies to win C and S reasonable compensation cases.
- Late S election made easy. Why do it on a timely basis anymore?
- Single-person LLCs may not have limited liability on back payroll taxes. Beware!
- LLCs can easily make S election.
- Partner's unreimbursed expenses denied in audit can be deducted.
- New! $500,000 home exclusion extended to surviving spouse 2 years after death.
- New! 0% capital gain rate for some investors starting in 2008. Really!
- New! Cancellation of debt relief for acquisition debt on principal residences.
- New! Form 982 used to exclude real estate cancellation of debt income.
- Vacation home like-kind exchanges permitted . . . if and when?
- Passive loss real estate professional eligibility requirements–how to meet them.
- Failure to make "single activity" election is ruinous to entrepreneurs.
- Passage of "extender" bills.
- AMT relief for individuals and corporations.
- Tax relief for businesses.
- California conformity issues.