August
Showing 17–32 of 50 results
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Planning for the net investment income tax
August 2019
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 293
Abstract: Despite its name, the Tax Cuts and Jobs Act didn’t cut all types of taxes. It left several taxes unchanged, including the 3.8% tax on net investment income (NII) of high-income taxpayers. This brief article defines the NII tax and urges you to explore strategies for reducing it if you must pay it.
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Know a teacher? Tell ’em about this tax break!
August 2019
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their expenses. This article explains how the educator expense deduction has changed under the Tax Cuts and Jobs Act.
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Tax document retention guidelines for small businesses
August 2019
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 464
Abstract: Most small business owners probably breathed a sigh of relief after filing their 2019 taxes (or requesting an extension). They’ll have a much easier time filing next year if their tax-related files (whether paper or digital) are culled of clutter. This article provides both general and business-specific guidelines for tax document retention.
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Consider the flexibility of a self-directed IRA
August 2019
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 555
Abstract: Traditional and Roth IRAs can be relatively “safe” retirement-savings vehicles, depending on what they’re invested in. But a drawback is that they limit investment choices. This article looks at an alternative: self-directed IRAs, which provide more flexibility in investment choices but also come with a greater risk. A sidebar examines the IRA’s role in estate planning.
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Is your company overpaying on sales and use taxes?
August 2018
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 262
Abstract: State tax authorities usually let a business know if it hasn’t paid enough sales and use taxes. But the lines of communication may not be so open if the company is overpaying. This brief article explores the complex but often beneficial process of conducting a reverse audit to find overpayments and seek reimbursements.
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LLC and LLP owners should befriend the PAL rules
August 2018
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 401
Abstract: The IRS has treated owners of LLCs and LLPs as limited partners for purposes of the passive activity loss rules. This could be a tax negative. As this article explains, however, LLC and LLP owners can now be treated as general partners, which means they can meet any one of seven “material participation” tests to avoid passive treatment.
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Assessing your exposure to the estate tax and gift tax
August 2018
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 491
Abstract: Every taxpayer with a high degree of wealth shouldn’t let estate tax liability or gift tax liability take their heirs by surprise. This article provides the latest info on estate and gift tax exclusions and exemptions, and explains how to help forecast one’s estate tax exposure.
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Take note of the distinctive features of Roth IRAs
August 2018
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 571
Abstract: For some people, Roth IRAs can offer income and estate tax benefits that are preferable to those offered by traditional IRAs. However, it’s important to make the right choice. This article discusses the distinctive features of Roth IRAs. A sidebar notifies readers of an important rule change regarding Roth IRAs under the Tax Cuts and Jobs Act.
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Shifting capital gains to your children
August 2017
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 296
Abstract: Investors looking to save tax dollars should look to their kids for assistance. Giving appreciated stock or other investments to one’s children can minimize the impact of capital gains taxes. This brief article suggests one strategy involving a stock sale and the purchase of a car.
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IRS permits high-earner Roth IRA rollover opportunity
August 2017
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 411
Abstract: As highly compensated employee (HCE) 401(k) plan participants approach retirement, a potentially useful tax-efficient IRA rollover technique may be a valuable savings tool. This brief article reviews IRS rules about how HCEs can allocate both pretax and after-tax employee contribution 401(k) assets between standard and Roth IRAs.
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Cool down with a dip into your tax records
August 2017
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 481
Abstract: A good way to beat the heat during the dog days of summer is to organize your tax records. Granted, it may not be as exhilarating as jumping off the high dive, but a dip into these important documents now may save taxpayers headaches later. This article explains the IRS guidelines for tax-record retention, as well as some important exceptions to consider.
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Should you convert from a C corporation to an S corporation?
August 2017
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 550
Abstract: Many private business owners elect to incorporate, turning their companies into C corporations. But, at some point, they may consider converting their businesses into S corporations. This article reviews some of the important considerations associated with this decision. A sidebar looks at the requirements for converting to S status in the first place.
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Heads up! Itemized deductions may be ahead
August 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 215
Abstract: Year end may seem far away, but now’s a good time for taxpayers to start looking ahead to what itemized deductions they may be able to claim for the 2016 tax year. This brief article provides a list of selected deduction and exclusion items to consider.
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How to assess the impact of a child’s investment income
August 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 340
Abstract: When they’re old enough to understand the concepts, some children start investing in the markets. Parents helping a son or daughter learn the risks and benefits of investments should also learn about the tax impact. This article explains how a child’s investment is typically taxed and a simplified approach to managing the resulting liability.
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Are you sure you want to take that 401(k) loan?
August 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 485
Abstract: Many people are tempted to take out a loan from their 401(k) plan. But these loans hinder the purpose of the account and may trigger dire tax consequences. This article explains the pros and cons of the idea.
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Know your options for business interest transfers
August 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: Business owners should always know their options when it comes to their company and its relation to their estate plans. This article looks at two commonly chosen vehicles for transferring ownership interests in a business: GRATs and IDGTs. A sidebar offers four more options to consider, including outright gifts and family limited partnerships.