Advice for small business owners on how to reduce their tax and insurance expenses without bringing IRS attention unto themselves.

1. Tax Insurance Cost
Reduction Ideas
Lance Wallach,
National Society of Accountants Speaker of the
Year
(516) 938-5007
lawallach@aol.com
www.vebaplan.com

2. 2
IRS audits are increasing
Do Not become a Target

3. 3
How to obtain a Free IRS
industry specialization
report
Items IRS will be looking at
during an audit

4. 4
Audits vs. asset
protection
Multiple corps to shift
tax years income

5. 5
Avoid rounding of figures(
 Zeros are a red flag for tax auditors
Do not amend tax return,
unless unavoidable

6. 6
Make sure income reported is inline
with your living expenses
Be careful about taking Cash $$$$$
$$$$$$$$$$$$$$$$$$$$

7. 7
Circular 230
Illegal workers
compensation audits
IRS audits

8. 8
IRS is auditing Retirement
Plans
What type of Retirement Plan
do you have?
 412(i), 419, Section 79
 Abusive Tax Shelters

9. 9
Interested in Reducing
Workman’s Compensation Costs?
Interested in Reducing Medical
Costs?
Captive insurance company can
reduce insurance costs

10. 10
Life insurance
No load
Insurance swap outs

11. 11
Off-shore Trusts
Swiss Annuities
Health Savings Accounts
Health Insurance

12. 12
Business succession planning
Estate Planning
Buy Sell agreements
Finance your life insurance

13. 13
Retirement plans
DB
K or Double K
401k audits leaving out
working

14. 14
Selling your life insurance for
cash
Dropping and paying taxes be
careful
Annuities vs. Life Insurance

15. 15
IRS problems with annuities in
plans
Should you convert to a Roth
IRA?

16. 16
How much money did you
lose in the Stock Market
last year?
How to recoup your losses

17. 17
Lance Wallach
National Society of Accountants
Speaker of the Year
(516) 938-5007
lawallach@aol.com
www.vebaplan.com
Questions?