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Disability is quite common and affects a significant number of clients. The impact of income tax planning on clients living with health issues is significant. Too often planning is reactive (e.g., can the expense be deducted as a medical expense) rather than proactive (what can be done to minimize income or enhance the tax benefits of deductions). Join Attorney Martin Shenkman as he demonstrates the considerable number of clients that might benefit from this type of planning. He will then provide an eclectic overview of income tax planning issues to help practitioners understand the scope of planning opportunities and how they can proactively use those opportunities to help what is likely a much greater portion of their client base then realized.

Agenda:
I.     Engagement Considerations
II.    Dependents; Exemptions; Filing Status
III.   IRA and Retirement Plan Considerations
IV.   Employment and Business Considerations
V.    Home Tax Considerations
VI.   Disability Income and Insurance- Tax and Other Considerations
VII.  Awards and Settlements- Tax and Other Considerations
VIII. Legal Fees and Expenses- Tax Considerations
IX.   Charitable Giving
X.    Life Insurance
XI.   Itemized Deductions- Medical Expenses
XII.  Signing a Return if Taxpayer Incapacitated

Instruction Method: Self-Study