Helpful Practice Development Tips, Planning Pointers and Observations designed to assist users in understanding and applying the new law are peppered throughout. Topics covered include:

• temporary dividends tax cut and lower taxes on capital gains
• increase in the Code Sec. 179 expensing limit
• bonus depreciation
• marriage penalty tax relief
• acceleration of the reductions in individual income tax rates enacted in 2001
• increase in the child tax credit
• increase in the individual alternative minimum tax
• how the changes affect 2003 returns exemption