Tax Planning

Tax Planning 

It is not enough to complete a client’s tax return once the tax year is over. Successful tax practitioners are looking for opportunities to be more proactive with their client’s tax situation throughout the year. Changes to the tax law do not fit timely within a specified time frame each year. Expired provision are being extended months into a new year with retroactive status, in addition to the issuance of new regulations and court findings which may substantially affect the treatment of certain tax positions. This requires staying on top of these recent developments, determining how your clients may be affected, and creating strategies to assist clients with minimizing taxes whenever possible.

This page contains a variety of resources to gain additional knowledge, increase practice efficiency, and communicate with clients. Visit often to increase your value to your clients.

Join the Tax Section today to gain access to these resources along with other benefits.


Featured Resources

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Divorce Guidance & Resources

Dedicated resource page that provides guidance, practice aids, tools, and educational resources to help you serve your clients going through a divorce such as articles, guidance on innocent spouse relief, templates to communicate with your client and/or his or her attorney regarding a divorce, and checklists.

Form 5500 Checklist 

Checklist used to address the issues, areas, or topics related to a specific tax form. Preparers use this to ensure compliance with IRS reporting and documentation rules, and identify any missed reporting issues, planning opportunities and potential exam or audit risks on a tax return.

Net Investment Income Tax

Dedicated resource page that provides guidance, articles, webcast archives, and templates for members to better assist their clients with the 3.8% tax for estates and trusts that have income above the statutory threshold amounts.


Checklists, Practice Guides, and Templates
  • Form 5500 Tax Organizer : a client facing package meant to assist in the collection and submission of client information necessary to prepare a tax return.
  • Oil & Gas Practice Guide : This practice guide is intended to assist income tax return preparers in reporting the amounts included on Forms 1099 and K-1 with respect to individual taxpayers receiving income from the sale of oil and gas reserves. This guide covers the basics of oil and gas taxation and does not necessarily address the more complex issues of this particular area.
  • Unique Considerations Guide : This guide provides practitioners some of the information they should consider when preparing individual and business state income tax returns. The laws, regulations and policies of each state should be verified for application to specific cases. This guide is neither authoritative nor all-inclusive and should not be relied upon for a specific taxpayer.
  • AICPA Tangible Property Resources: Overview of the tangible property regulations, links to current and previous regulations, sample IRC 3115 resources (for applicable businesses), repair regs flowchart, sample client letter, and more.

Videos, Webcasts, and Other Media

Other Resources

Learning

Virtual

Self-Study

In-Person

  • AICPA Sophisticated Tax Planning for Your Wealthy Clients, Nov. 10-11, Boston, MA or Virtual: The AICPA Briefing on Sophisticated Tax Planning for Your Wealthy Clients offers the latest updates, cutting-edge strategies and governmental regulations that affect affluent individuals. Topics include estate planning, asset protection, eldercare, life insurance, and more. Tax Section members save $125.00 when registered by Sept. 26. 

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