December
Showing 33–48 of 52 results
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Earn 5% or more on liquid assets
December 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 164
Abstract: Paying off a home loan having an interest rate of 5% with one’s excess liquid assets is just like earning 5% on those funds. This short article notes the benefit of paying down debt.
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Seniors age 70½ take your required retirement distributions before year end
December 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 147
Abstract: The tax laws generally require individuals with retirement accounts to take annual withdrawals beginning at age 70½. Failure to take a required withdrawal can result in a penalty of 50% of the amount not withdrawn. This short article explains why it’s usually (but not always) advisable to take a distribution before the end of the year.
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Education planning: It’s best to start early
December 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 648
Abstract: The increasing costs of higher education have made education planning an important aspect of personal financial planning. However, because the actual expenditure will not be incurred for many years, it is often given a low current priority. Unfortunately, this tendency to postpone the issue may eliminate several education planning strategies that must be implemented early to be effective. This article examines the costs and discusses six methods to pay for college.
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Providing tax-free fringe benefits to employees
December 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: An important part of any compensation package is fringe benefits, especially tax-free ones. From an employee’s perspective, one of the most important fringe benefits is medical coverage. Disability, life, and long-term care insurance benefits are also significant to many employees. Fortunately, these types of benefits can generally be provided on a tax-free basis to employees. This article takes a look at these and other common fringe benefits.
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What you should know about capital gains and losses
December 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 486
Abstract: This article offers facts about capital gains and losses, discussing concepts such as long- vs. short-term losses, carryover losses, deductible losses, net capital gain, and more.
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UNICAP rules and exemptions
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 279
Abstract: A set of tax rules known as the uniform capitalization (UNICAP) rules require certain business costs that are normally expensed as they’re incurred to instead be capitalized as part of the cost of inventory held for resale or noninventory items produced by a taxpayer for use in its trade or business. The rules are far from new, but a recent Tax Court decision is a reminder that they can be a trap for the unwary. Such was the case, this article explains, for a homebuilder who failed to capitalize a whole host of generally indirect costs that the IRS and the Court found to be related to completing the homes.
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Supersizing your charitable contribution deductions
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 451
Abstract: This article considers three charitable giving strategies that can help boost one’s 2014 charitable contribution deduction: using a credit card, donating a life insurance policy, and taking advantage of a donor-advised fund.
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Seniors age 70½+: Take your required retirement distributions
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 145
Abstract: The tax laws generally require individuals with retirement accounts to take annual withdrawals based on the size of their account and their age beginning with the year they reach age 70½, or face a hefty penalty. Those turning age 70½ in 2014 can delay their 2014 required distribution to 2015 — but this brief article explains whether or not it may make sense to do so.
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Retaining key employees
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 292
Abstract: Strategies to identify, retain and reward key employees are a must — and the most effective incentives are usually monetary. Generally, they are offered in the form of nonqualified plans, which are much more flexible than qualified plans concerning benefits, contributions, and participation requirements, and so can be tailored to a particular person’s situation. This article discusses three types: restricted stock, incentive stock options, and nonqualified stock options.
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Home office expenses of employees
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 531
Abstract: One requirement that must be met to qualify for a home office deduction is the “employer convenience test,” which is hard to satisfy unless the employer doesn’t provide the employee with an appropriate space in which to get their work done. This was the situation in a recent court case. This article looks at the case, in which the court ruled that an employee whose home was treated as her company’s “branch office” did indeed qualify for a partial deduction.
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Disability insurance for business owners and professionals
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 187
Abstract: Disability might not only remove a source of family income; it may also increase family expenditures. This brief article mentions a few factors to consider when choosing disability insurance coverage.
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Check your partnership and S corporation stock basis before year end
December 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 107
Abstract: This paragraph explains what a person should do if they own an interest in a partnership or S corporation, but expect it to generate a loss this year and there’s not sufficient basis to claim a full deduction.
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Itemized medical deductions
December 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 250
Abstract: Before 2013, a taxpayer could claim itemized deductions for medical expenses paid for him- or herself, his or her spouse, and dependents to the extent those expenses exceeded 7.5% of adjusted gross income (AGI). But the rules have changed for the worse. This article explains why, but also how it’s possible to alleviate the situation.
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Qualified charitable distributions
December 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 425
Abstract: IRA owners and beneficiaries who have reached age 70½ are permitted to make donations to IRS-approved public charities directly out of their IRAs. These so-called qualified charitable distributions, or QCDs, are federal-income-tax-free, but offer no charitable deduction on one’s tax return. But, that is fine because the tax-free treatment of QCDs is the same as an immediate 100% deduction without having to worry about restrictions that can delay itemized charitable write-offs. As this article points out, QCDs have other tax advantages, too.
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Year end mutual fund purchases
December 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 399
Abstract: Many taxpayers make adjustments to their investment portfolio near year end to take profits, to recognize tax losses, to reallocate their assets, and for various other reasons. When making purchases of mutual funds near year end, however, it’s important to be wary of actually purchasing a tax liability. This article explains why the timing of a share purchase in a particular fund can affect one’s tax liability. To avoid this, it’s advisable to check with the mutual fund company to determine the status and nature of any forthcoming dividends when purchasing equity mutual funds late in the year.
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Minimizing the 3.8% net investment income tax
December 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: Originating as a component of 2010 health care legislation and first effective in 2013, the 3.8% net investment income tax (3.8% NIIT) is assessed on the lesser of net investment income (NII) or modified adjusted gross income (MAGI) above specific thresholds. Thus, planning strategies to reduce the surtax will only be effective if they target the applicable exposure point. This article shows how to reduce AGI and NII, while offering longer-term strategies to reduce exposure to the 3.8% NIIT.