Returning cash to the owners

Participants will learn:

• The limitations of personal financial statements and why more information is needed
• Why personal tax returns can be difficult to analyze and how to target relevant information consistently
• Using tax return data to validate assets and liabilities, plus uncover unreported liabilities
• Understanding the spectrum of situations, how some income (or loss) does not involve cash, plus and linking types of income/cash flow to the primary tax return schedules
• Cash flow approaches for self-employed and small business owners using sample worksheets and cases
• Overview of business entity choice issues             
• How pass-through entities impact cash flow
• Examples of capital gains (and losses) and how to extract the cash flow involved
• The concept of global cash flow and its pros and cons plus analytical issues
• Recent tax law changes and likely affect on customers’ tax returns