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Wednesday, July 4, 2012

Summary
“Hire a Spouse to Work in a Family Business” is an example of articles found in TheTaxBook Planning Strategies Edition.

TheTaxBook Planning Strategies Edition contains over 120 in-depth planning articles. By taking a few extra minutes at the end of a tax interview to speak with your client about pros and cons of a tax planning strategy, your client will appreciate the added value of your service, and you will see an increase in customer loyalty.

Most articles include the following features:

1. Issue. A description of a problem or issue that could be solved with the correct planning strategy. The description is designed to help the tax professional fit a planning strategy to a particular client’s situation.

2. Applicable Tax Law. A list of applicable rules, including authoritative citations to assist the tax professional in further research. The applicable tax law helps identify circumstances in which a planning strategy can be applied to a specific client’s situation.

3. Tax Planning Strategy. A possible course of action to achieve a desired tax result.

4. Examples. One or more examples are given to illustrate how the strategy works. The examples are written in plain English to help the client understand the value of implementing a particular plan of action.

5. Possible Risks. A list of circumstances that could reduce or eliminate the intended goal of the planning strategy, or result in unintended negative consequences. The tax professional may find this information useful to show a misinformed client why his or her desired strategy will not work.

6. Court Cases. Issues related to applicable tax law are examined in court case summaries involving taxpayers in situations that relate to the intended strategy. Court case summaries assist in making a more informed decision about whether to implement the suggested strategy.

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Print Version: Hire a Spouse to Work in a Family Business