February
Showing 33–48 of 57 results
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Married filers, the choice is yours
February 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 206
Abstract: For married couples, there’s no harm in at least considering whether to file joint or separate tax returns every year. This brief article notes potential advantages of filing jointly, but also describes circumstances under which filing separately may be the better option.
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Why flip real estate when you can exchange it?
February 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 399
Abstract: Those who own real estate for investment purposes may focus on flipping it when an adequate gain has been reached. But there’s another option: exchanging it under Section 1031 of the Internal Revenue Code. This article explains how such “like-kind” exchanges work, warning also of the complex rules and potential risks.
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Reacquainting yourself with the Roth IRA
February 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 478
Abstract: When looking into retirement planning, many people read about Roth IRAs. But the timing isn’t always right to take on one of these arrangements. This article recommends getting reacquainted with the Roth IRA — including its concept, contribution limits and conversion rules.
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Good eats, tax breaks: Deducting employee meal costs
February 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 546
Abstract: One thing about human resources — they need to eat. Just about every employer encounters situations in which it needs to provide meals to its employees. This article discusses the latest tax rules for deducting these costs. A sidebar looks at the advantages and tax impact of establishing an employee cafeteria.
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What to do if you don’t get a Form W-2
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 291
Abstract: An employee who worked during 2014 should receive from his or her employer a Form W-2, “Wage and Tax Statement,” by February 2, 2015. This form shows the amount of wages received for the year and the taxes withheld from those wages, and it must be filed with the employee’s return. This article explains what to do if the employee hasn’t received Form W-2 by mid-February.
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The importance of accountable expense reimbursement plans
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 377
Abstract: Most companies cover their employees’ business expenses by reimbursing them for their actual expenses or by paying a travel or mileage allowance. Such arrangements are subject to strict tax rules concerning what qualifies as a legitimate reimbursement arrangement and what is treated (at least for tax purposes) as additional compensation to the employee. It depends on whether the employer’s payments are made in accordance with what the IRS calls an accountable plan. This article explains the rules and whether it may or may not be advisable to use such a plan.
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Standard mileage rates for 2015
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 235
Abstract: This article notes that, rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. Likewise, standard mileage rates are available for computing the deduction when a vehicle is used for charitable, medical or moving purposes.
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Helping an adult child buy a home
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: Economic and tax considerations make right now a good time for parents (and grandparents) who are willing and able to help their adult children buy a home. This article looks particularly at the 0% capital gains rate and low federal interest rates as factors that might influence the decision.
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Employer reimbursements of individual health insurance policies
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: For plan years beginning after 2013, the Affordable Care Act institutes so-called market reform provisions that place a whole host of new restrictions on group health plans. With a limited exception, these provisions significantly restrict an employer’s ability to reimburse employees for premiums paid on individual health insurance policies, referred to as employer payment arrangements. This article explains the new restrictions on these arrangements and what employers who still have them should do. It also looks at acceptable alternatives.
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Taxpayer penalized for wasting court’s time
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 100
Abstract: This brief article describes how a taxpayer who claimed he had no taxable income was not only disputed by the Tax Court, but was assessed fines for wasting its time.
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Social Security update
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 221
Abstract: This article provides the 2014 inflation adjustments that have been announced for the various Social Security amounts and thresholds.
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Retirement plan review
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 331
Abstract: Retirement plan savings (e.g., qualified plans and IRAs) are important to one’s financial well-being for many reasons. They allow one to accumulate income without currently paying tax, and the power of compounding pretax dollars makes a retirement plan one of the most powerful investment vehicles available. Therefore, it is important to do everything possible to get the most out of one of the best investment opportunities available. This article lists information to consider when conducting a review of retirement plans.
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Making your hobby a business
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Taxpayers often invest a great deal of time and money in their hobby, and some eventually make it a full- or part-time business activity. It’s not a problem as long as the new business turns a profit. And it may be fine as well if the business produces a loss and the taxpayer enjoys the activity — even better if the loss can offset other income. However, if the business consistently generates losses, the IRS could determine that these losses are actually nondeductible hobby losses. This article discusses two ways to avoid the hobby loss rules.
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Coverdell Education Savings Accounts
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 189
Abstract: The Coverdell Education Savings Account (ESA) was created as an incentive to help parents and students save for education expenses. This article looks at its benefits and limitations.
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Converting a residence to rental property
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 353
Abstract: Recovering real estate values may cause some homeowners to consider converting their personal residence to rental property for investment purposes. But this decision is complex, and its ramifications are far-reaching. This article examines the economic factors that need to be considered.
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Benefits of using a family LLC
February 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 618
Abstract: For those who are interested in gradually transferring partial ownership of their assets to their children, a good method might be to transfer the assets to a family limited liability company (LLC) and subsequently gift membership interests in it to the children. With that in mind, this article provides some information about using a family LLC to transfer ownership of assets.