The document provides an agenda and overview for a seminar on 2003 tax law changes and related cases. Key points discussed include: - Reduced individual income tax rates and expanded 10% tax bracket for 2003-2004. - Lower long-term capital gains and dividend tax rates of 5-15% for 2003-2008. - Increased child tax credit of up to $1,000 for 2003-2004. - Accelerated increases to the standard deduction and 15% tax bracket amounts for joint filers in 2003-2004. - Reduced marriage penalty for many taxpayers due to increased 15% bracket amounts. - Planning opportunities related to capital gains, dividends, installment sales

1. Surgent Associates Best Federal Tax Update 2003 Presented to NYSSCPA Cecil Woodard, MBA, CPA, CIA. CISA, CFE

7. Individual Tax Brackets – Pre-Act v. Act 35% 33% 28% 25% Pre-Act 35% 33% 28% 25% Act 2006-2010 37.6% 34% 29% 26% Pre-Act 35% 33% 28% 25% Act 2004-2005 38.6% 35% 30% 27% Pre-Act 35% 33% 28% 25% Act 2003

23. Capital Gains Rates 8% 8% 18% LT gain >60 months in 2009 10% 15% 20% Lt gain >12 months in 2009 0% 0% 15% LT gain in 2008 5% 5% 15% LT gain prior to 2008 10% 15% 28% Collectible/§1202 gain 10% 15% >15% Type Gain - Taxpayer Bracket

47. Cases and Rulings - Individuals Chapter Two

99. Cases and Rulings - Business Chapter 3

126. That’s All Folks!