February
Showing 49–57 of 57 results
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Tax rules for gamblers
February 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 393
Abstract: Whether the economy is expanding or contracting, gambling remains a popular pastime. For casual gamblers, winnings are fully taxable and must be reported on one’s tax return. It’s also possible to deduct gambling losses, but only up to the extent of winnings. But the rules for professional gamblers are more complex, as this article explains.
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Patron’s gifts and athletic tickets
February 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 203
Abstract: Subject to Congress changing the law, the cost of tickets to a charitable event is eligible for a contribution deduction to the extent the purchase price exceeds the fair market value of admission and privileges associated with the event. But there are some caveats, as this brief article explains.
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Standard mileage rates for 2013
February 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 158
Abstract: This brief article provides an update on 2013 standard mileage rates, but notes that there are circumstances in which taxpayers must instead calculate their actual costs.
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Social Security and Medicare update
February 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 391
Abstract: This article discusses the annual inflation adjustments that have been made for the various Social Security amounts and thresholds for 2013. It includes discussion of the 0.9% Medicare surtax (new for 2013), along with Social Security tax and benefit amounts.
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Selecting a C corporation’s tax year
February 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 513
Abstract: Businesses that operate as C corporations have substantial flexibility when selecting a tax year. However, businesses that operate as partnerships or S corporations are restricted by law in their choice of a tax year. Once selected, a tax year generally must be maintained until the business is required or elects (with IRS permission, if necessary) to change it. This article discusses the two types of tax years and the considerations involved in choosing one.
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Taxable or nontaxable income?
February 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 476
Abstract: Most of the income people receive is taxable, but certain types of income are only partially taxed or not taxed at all. This article lists some of the more common types of income that individuals receive and an indication of how they are treated for federal income tax purposes.
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The Unearned Income Medicare Contribution
February 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 124
Abstract: This article briefly discusses the Unearned Income Medicare Contribution (UIMC) surtax on net investment income, to take effect in 2013.
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Capital gains and losses
February 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 289
Abstract: Technically, almost everything owned and used for personal, pleasure or investment purposes is a capital asset. Capital assets include, but are not limited to, homes, household furnishings, stocks, bonds and mutual funds. When a capital asset is sold, the difference between the amount paid (one’s basis) and the amount it’s sold for is generally a capital gain or loss. This article offers some important facts about capital gains and losses.
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Head of household filing status
February 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 298
Abstract: Failure to use head of household (HOH) filing status is a common tax filing mistake. HOH status is preferable to single or married filing separately status because the tax rate brackets are more favorable (except for the 35% single bracket) and the standard deduction is larger. This article lists the requirements for HOH status.