Tab A: Reference Material and Worksheets
Where to File: Business Returns
Principal Business Activity Codes
Business Quick Facts Data Sheet
Guide to Information Returns
Start—Up Expenses Election
Partnership Organizational Expense Election
Types of Payments—Where to Report
S Corporation Shareholder?s Adjusted Basis Worksheet
Partner's Adjusted Basis Worksheet
Cash Flow Statement
Tax Info for Partnership, Corporation,LLC and LLP Returns
Business Valuation Worksheet
Estate Inventory Worksheet
Reconciliation of Income Reported on Final Form 1040 and Estate's Fiduciary Return (or Beneficiary's Return)
Allocation of Indirect Costs to Ending Inventory Under Section 263A
Transferor's Section 351 Statement
Tab B: Partnerships
Basics of Partnerships
Partnership Income and Expense Chart
Partnership Income and Expenses
Basis
Built—In Gain or Loss
Partnership Distributions
Nonrecourse Loans
Partnership Example
Partner Codes for Schedule K—1, Form 1065
Tab C: Corporations
Basics of Corporations
Capital Contributions
Stock
Section 1244 Stock Losses
Small Business Stock
Distributions
Earnings and Profits (E&P)
Accumulated Earnings Tax
Corporate Income and Expenses
Corporate AMT
Corporate Miscellaneous
Corporation Example
Tab D: S Corporations
Basics of S Corporations
S Corporation Taxes
Reasonable Wages
Shareholder's Basis
Distributions
S Corporation Example
S Corporation Shareholder Codes for Schedule K—1, Form 1120S
Tab E: Tax Exempt Organizations
Basics of Tax—Exempt Organizations
Form 990 or 990—EZ
Contributions to Tax-Exempt Organizations
Unrelated Business Income Tax (Form 990—T)
Private Foundations
Becoming an Exempt Organization
Completing Form 990—EZ
Comprehensive Example
Tab F: Other Business Entities
Limited Liability Company (LLC)
LLCs and Entity Classification
LLC Creation and Conversions
LLCs—Other Considerations
Limited Liability Partnership (LLP)
Limited Partnership
Personal Service Corporation (PSC)
Homeowners' Associations
Personal Holding Company (PHC)
Tab G: Fiduciary Tax Returns (Form 1041)
Fiduciary Return Facts
Trust Terminology
Overview of Trust and Estate Taxation
Grantor Trusts
Grantor Trusts—Tax Returns and Reporting Requirements
Simple Trust—Detailed Example
Complex Trust—Detailed Example
Form 1041, Schedule K—1 Codes
Tab H: Estate and Gift Tax Returns
Death of a Taxpayer
Taxable Income in the Year of Death
Final Form 1040
Gift Tax Return (Form 709)
Gift Tax Example
Estate and Gift Tax
Generation-Skipping Transfer (GST) Tax
Estate Tax Return (Form 706)
Basis in Property
Valuing Property
Estate—Comprehensive Example
Tab I: Payroll Tax Returns
Payroll Tax Deposit Requirements
Depositing Payroll Taxes
Withholding Federal Income Tax
Withholding Methods and Examples
FICA and FUTA Wage Base
Special Classes of Employment
New Hire Reporting
Payroll Tax Reporting
Student Employment
Special Compensation
Gross-Up Computation
Disregarded Entity Employment Taxes
Trust Fund Recovery Penalty
Other Payroll Tax Issues
Tab J: Depreciation and Amortization
Section 179 Deduction
Recapture?Section 179 and Listed Property
Short Tax Year—MACRS
Allowed or Allowable Depreciation
Depreciation Recapture
General Asset Account (GAA) Depreciation
Expensing Policy
Amortization
Depletion
Oil and Gas
Auto Depreciation
Contributed Property
Tab K: Employee Benefit Plans
Basics of Benefits
Fringe Benefits Comparison Chart
Nondiscrimination Rules for Employee Benefits
Employer and Self-Employed Retirement Plan Chart
Medical Reimbursement Plan Comparison Chart
Tax-Free Fringe Benefits
Dependent and Child Care
Educational Assistance Program
Adoption Assistance Program
Employee Achievement Awards
Meals and Lodging
Health Insurance Benefits
Group Term-Life Insurance
Cafeteria Plans
Nonqualified Deferred-Compensation Plans
Employer-Provided Autos
Qualified Retirement Plans
Form 5500
Tab L: Accounting Methods and Principles
Accounting Methods
Tax Year
Inventories
Uniform Capitalization Rules
Bookkeeping Basics
Double-Entry Bookkeeping
Balance Sheet
Accounting Terms
Tab M: Starting a New Business
Start-up Considerations
Entity Comparison Chart
Business Plan
Internal Controls
Pre-Incorporation/LLC/Partnership Agreements
Organizational and Start-Up Costs
Identifying Start-Up Costs Capitalization
Employment Issues
Labor Laws
Selling to U.S. Government
Financing
Buy/Sell Agreements and Succession Planning
Business Valuation Methods
Tab N: Acquisitions, Dispositions and Liquidations
Partnership Liquidations
Sales and Exchanges of Interests in Pass-Through Entities
Corporate Liquidations
Stock Redemptions
Corporate Reorganizations
Section 338 Election
Disposition of Assets
Asset Acquisitions
Tab O: Deductions, Credits and Books vs. Tax
Business Tax Deductions
U.S. Production Deduction
Tax Credits
Energy Tax Incentives for Businesses
Net Income per Books vs. Taxable Income
Tab P: Tax Planning for the Small Business
Basics of Tax Planning
Hire Children to Save Tax
Lodging and Meals for Shareholder—Employees
Sole Proprietor Can Deduct Cost of Medical Expenses Paid to Employee—Spouse
Fringe Benefits
Home Office for the Small Business
S Corporation vs. C Corporation
Partnership vs. S Corporation-SE Tax
Organizational and Start—Up Costs
Unsuccessful Attempt to Acquire Business—Section 1244 Loss
Tax on Appreciated Real Estate
Conversion of Single-Owner to Multiple—Owner LLC
Conversion of Multiple-Owner to Single—Owner LLC
Adjustment to Basis of Partnership Property—Section 754 Election
Shareholder Loan to C Corporation
Shareholder Loan to S Corporation
S Corporation Built-In Gains Tax
S Corporation Election to Close Books on Termination of Shareholder's Interest
Corporate Stock vs. Asset Sale
Transferee Liability
Gifting Family Business Interests
Buy/Sell Agreement Funding
Practice Management
S Corporation Year—End Planning Checklist
Partnership Year-End Planning Checklist
Tab Q: New Law
Tax Legislation Enacted this Year
Index
Easy-to-use Topical Index
