A pre-recorded streaming video replay from the August 2017 webcast, Tax Bootcamp 2017: Tax Issues Your Clients Can't Avoid.
Topics covered include:
- Get an overview of individual and entity-level taxes and their interplays for advising business formation and operations
- Learn the potential tax impact of settlements/judgments including key terms and conditions that should be included, or excluded, from settlement agreement and tax reporting obligations
- Review common tax questions posed by clients to transactional attorneys on business operations, shareholder loans, and purchase/sale agreement
- Develop must-do strategies for representing clients in IRS tax audits, appeals, collections matters, and upon receipt of an IRS summons or subpoena
Federal tax issues are present in almost every decision facing clients, whether individuals or businesses. It does not matter at what stage you have been engaged (setting up a business, purchasing/selling raw materials or inventory, or hiring/terminating employees); taxes impact the advice you are being asked to give. If your practice focus is more litigation based, you need to be aware that potential settlements and judgments have a tax impact on your clients. It is always better to factor taxes into your advice and strategy before starting settlement negotiations, and especially before presenting your case to a judge or jury. At this seminar, we will expose attorneys to a tax basics presentation followed by practice-specific information so that attorneys can properly prepare their clients on how taxes factor into decisions.
The purpose of this seminar is three-fold: (i) to provide non-tax practitioners a tax bootcamp of the basic tax rules for individuals, businesses, and trusts and estates; (ii) to provide information for both transactional- and litigation-focused attorneys with tax issues specific to these types of practices; and (iii) to provide helpful tips and strategies for handling IRS tax audits, appeals, and collections matters.