January
Showing 49–64 of 64 results
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Tax calendar
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 508
Abstract: With a new year comes pending tax filing deadlines. This article lists important filing requirements and their deadlines for the first three months of 2015.
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Retirement contribution limitations for 2015
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 328
Abstract: This article describes IRS cost-of-living adjustments affecting the dollar limitations for retirement plan contributions. Several of the limitations are higher for 2015 because the increase in the cost-of-living index met the statutory threshold. However, some limitations did not meet that threshold and remain unchanged from 2015.
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Taxability of rewards programs
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 515
Abstract: The IRS has long held that it won’t assert that someone has taxable income merely because they personally benefited from frequent flyer miles or other in-kind promotional benefits resulting from their business or official travel. But what if the miles are an award for opening a bank account? This article describes a Tax Court case in which the taxpayer discovered that the reason for being awarded benefits is significant.
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Structuring a tax-free incorporation
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: When forming a corporate entity, one method of capitalization is through a tax-free (actually, tax-deferred) exchange. Properly transferring property to a corporation delays the recognition of any gain on that property until a taxable event occurs. This article lists four requirements for a tax-free incorporation.
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Additional 0.9% Medicare tax
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: Individuals must pay an additional 0.9% Medicare tax on earned income above certain thresholds. This article explains those thresholds and how the tax applies at different income levels depending on the employee’s marital and filing status. It also discusses the effect on self-employed individuals. A sidebar illustrates how the tax works by looking at the case of “Josh and Anna,” whose individual incomes fall below the tax’s threshold, but whose combined income exceeds it.
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IRS modifies FSA use-it-or-lose-it rule
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 132
Abstract: Although Health Flexible Spending Account (FSA) contributions left over at the end of a plan year are forfeited to the employer under the “use-it-or-lose-it rule,” this brief article notes that the IRS has softened the rule.
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2014 Social Security wage base
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 136
Abstract: This brief article notes a change to the wage base for computing Social Security tax for 2014.
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Tax calendar
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 482
Abstract: This tax calendar lists January-March deadlines for filing certain individual and business tax documents, along with descriptions of the necessary procedures.
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Life insurance as a source of funds for the terminally ill
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 536
Abstract: Although insurance policies have historically been held for the death benefits, some policies now include an accelerated death benefit (or living benefit) rider. Where accelerated death benefits are not an option, it may be possible to sell the life insurance policy to a viatical settlement provider. Either way, individuals can secure some much-needed cash while they are still living. Better yet, the proceeds will usually be tax-free. This article explores both options.
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Retirement contribution and other limitations for 2013
January 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 384
Abstract: The IRS has announced cost-of-living adjustments affecting the dollar limitations for retirement plans, deductions and other items. Several of the limitations are higher for 2013 because the increase in the cost-of-living index met the statutory threshold. However, some limitations did not meet that threshold and remain unchanged from 2012. This article describes some of the details.
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Business deduction for Medicare insurance premiums
January 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 86
Abstract: This brief article notes who can deduct premiums paid for qualified health insurance in computing their adjusted gross income (AGI) and whether certain Medicare premiums count for this rule.
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Filing status implications
January 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: For married taxpayers, the implications of filing a joint or separate return extend beyond tax rates and the standard deduction. Like many aspects of income taxation, there is usually more than one approach to finding the optimal solution. This article lists some of the more common implications of filing either a joint or separate return.
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Tax calendar
January 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 307
Abstract: This article lists deadlines for filing certain tax documents, along with descriptions of the necessary procedures.
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Deducting home mortgage interest
January 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 589
Abstract: The political debate on federal tax reform touches many topics, including the tax deduction for interest on home mortgage loans. This article reviews federal law on deducting residential mortgage loan interest. It discusses interest paid on qualified residence debt and what constitutes a “qualified residence.” It also offers a planning tip for taxpayers with more than two homes.
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Receiving Social Security benefits before full retirement age
January 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 562
Abstract: A fully insured individual can start receiving Social Security retirement benefits as early as age 62. However, the full benefit will be permanently reduced for each month before the individual reaches his or her full benefit retirement age. This article offers two hypothetical examples of how this works: one discussing the difference in benefits between the two dates, and the other showing how a retired spouse’s benefits increase when his or her mate retires.
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Operating a business as an LLC
January 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: Entrepreneurs have many questions and concerns when starting a business, not the least of which is related to minimizing their legal liability. In many cases, operating a business as a limited liability company, more commonly known as an LLC, may be the best way to limit the liability for both the business and owner(s) and provide tax benefits as well. This article explains how.