Description:

This book is for preparing 2023 taxes. Tax planning is an essential part of the services you offer. This book will cover common situations in which you’ll need to be prepared to develop a tax strategy for your client. Trending topics include how to handle a client’s sale of business with a focus on partnerships, corporations and S corporations; a look into fringe benefits and the proper tax treatment; how to handle unique rental property scenarios; and how net investment income tax (NIIT) can impact taxpayers. To help you understand the practical application of tax strategies, we’ll include examples that demonstrate how tax planning can be customized to meet the unique needs of different clients.

As the IRS continues its enforcement efforts, taxpayers will see an increase in notices. Learn how you can help your client address CP notices and the different kinds of tax representation you can add to the services you offer.

Topics include:

• Analyzing the tax impacts of selling a partnership, S corporation, or C corporation
• Determining the tax treatment of fringe benefits
• Reporting unique rental property activities such as conversions of a primary residence and short-term rentals
• Calculating NIIT
• Summarizing how tax professionals can assist clients with IRS interactions 

Product Details:

Item Number: 23302

Level: Update

Authors: NATP Staff

Published: 2023

Format: Print - 300 pages

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Corresponding CPE Courses:

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