New Strategies for CPAs to Help Clients during Current Economic Difficulties
NEW YORK, Aug. 13 /PRNewswire/ -- The Tax & Accounting business of Thomson
Reuters recently released a significantly revised guide, PPC's Guide to Tax
Planning Strategies, to help CPAs turn recession struggles into tax-saving
opportunities for their clients.
"The current recession is producing an epidemic of financial losses, layoffs,
real estate foreclosures, declining asset values, and unprecedented economic
uncertainty," said Blake Smith, senior director of Product Development at the
Tax & Accounting business of Thomson Reuters. "PPC's Guide to Tax Planning
Strategies offers ways to help clients save taxes, maximize deductions,
improve cash flow, deal with employment issues, fully utilize net operating
loss deductions, and plan for better times."
Smith added that retaining clients is foremost on the minds of many CPAs today
and goes hand in hand with effective tax planning services that benefit their
clients.
Fifteen of the 55 chapters in PPC's Guide to Tax Planning Strategies are new,
covering strategies to:
-- Recover from a real estate foreclosure;
-- Fully utilize net operating losses;
-- Survive bankruptcy;
-- Maximize the deduction for fraudulent theft losses;
-- Minimize FICA and SE tax;
-- Realize the maximum proceeds from a proprietorship disposition;
-- Survive and prosper when employment is terminated;
-- Retain key employees during economic turmoil; and
-- Properly classify workers to avoid penalties and interest.
The newly revised guide also includes updates to executive summaries, client
letters, and practice aids to help clients:
-- Minimize alternative minimum tax (AMT);
-- Maximize bonus depreciation;
-- Utilize eligible tax credits;
-- Benefit from family limited partnerships;
-- Manage investment losses to reduce taxes;
-- Re-evaluate retirement prospects; and
-- Defer compensation.
Additional information can be obtained by visiting
http://ppc.thomsonreuters.com or calling 800-323-8724.
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The Tax & Accounting business of Thomson Reuters is the leading provider of
technology and information solutions, as well as integrated tax compliance
software and services to accounting, tax and corporate finance professionals
in accounting firms, corporations, law firms and government. Tax & Accounting
includes the Corporate Software & Services, Professional Software & Services,
and Research & Guidance business groups.
SOURCE The Tax & Accounting business of Thomson Reuters
Ruth Ann Baker (U.S.) of The Tax & Accounting business of Thomson Reuters,
+1-972-250-7438, ruth.ann.baker@thomsonreuters.com
