June
Showing 1–16 of 51 results
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Appreciating the helpful balance of bonds
June 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 297
Abstract: Stock market and interest rate uncertainty may cause some investors to turn to bonds. This brief article discusses several popular options, including U.S. government savings bonds and corporate bonds.
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Adopting a child? Bring home a tax break too
June 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: Two tax benefits may be available to offset the expenses of adopting a child. In 2023, adoptive parents may be able to claim a credit against their federal tax for up to $15,950 of “qualified adoption expenses” for each child. That’s a dollar-for-dollar reduction of tax. And there may be tax relief for some employees under programs offered by employers.
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The tax obligations if your business closes its doors
June 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 536
Abstract: Sadly, many businesses have been forced to shut down recently due to the challenges of the economy, including the supply chain. To close a business, various tax responsibilities must be met, preferably with the help of a trusted tax advisor.
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Is it a good time for a Roth conversion?
June 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 552
Abstract: The volatility in the stock market may have caused the value of retirement accounts to decrease. To those with traditional IRAs invested in stocks, a decline may provide a valuable opportunity: that is, taxpayers may be able to convert a traditional IRA to a Roth IRA at a lower tax cost.
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Help prevent financial scams aimed at older people
June 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 261
Abstract: No matter the season, scam artists look for new victims, including those who would pick the pockets of older people in search of money and financial data. This article offers seven ways to help prevent elder financial abuse and fraud.
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Nonworking spouses may still contribute to an IRA
June 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 394
Abstract: Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a “spousal” IRA. It allows contributions to be made for nonworking spouses. This article explores the details.
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How start-up costs of a new business affect your tax return
June 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 492
Abstract: Despite a seemingly endless period of COVID-19 setbacks, last year the country experienced a large increase in new businesses launched. The latest figures available from the U.S. Census Bureau (June 2020 through June 2021) show that business applications rose 18.6%. Entrepreneurs often don’t know that many of the expenses incurred by start-ups can’t be currently deducted. This article discusses how the handling of initial expenses can affect a new business owner’s federal tax bill.
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Can you deduct the costs of a self-managed portfolio?
June 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 541
Abstract: Many taxpayers incur significant investment-related expenses, which might include payment for financial service subscriptions, clerical support and home office maintenance. Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment expenses to produce income. If they’re considered trade or business expenses, however, they are deductible. This article explains the difference between a trader and an investor. A brief sidebar describes a court case to illuminate that difference.
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New rules for COVID-related paid sick time and leave
June 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 282
Abstract: Under the Families First Coronavirus Response Act, employees could (through December 31, 2020) take paid sick time and paid family leave to care for themselves or loved ones because of COVID-19. This brief article notes some changes to the applicable rules with the passage of two subsequent laws in December 2020 and in March 2021.
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Should an LLC hold your vacation home?
June 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 426
Abstract: Holding a vacation home shared by family members in a limited liability company is one option that can offer important benefits. This short article lists several: asset protection, ease of management, ownership restrictions and estate planning advantages.
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Weighing the pros and cons of LTC insurance
June 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 485
Abstract: The COVID-19 pandemic has significantly affected our lives in many ways that are still playing out. For example, it has served as a reminder of how difficult an unexpected medical crisis can be to manage financially. This article explores the pros and cons of one potential safeguard against such risk: long-term care insurance.
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Individual taxpayers, remember the rescue!
June 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 559
Abstract: Many individual taxpayers fondly recall the stimulus payments issued this spring under the American Rescue Plan Act. However, the law contains plenty of other provisions also worth remembering. This article reviews four highlights. A sidebar looks at the income exclusion for unemployment benefits.
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The marriage penalty still exists under the TCJA
June 2020
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 247
Abstract: One byproduct of the Internal Revenue Code is that the tax liability of married couples who file jointly may be more than their combined tax liabilities would be as single filers. When it is more, many refer to the resulting tax hike as “the marriage penalty.” This brief article discusses the persistence of the marriage penalty under the Tax Cuts and Jobs Act.
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Should you digitize your tax and financial records?
June 2020
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 405
Abstract: Traditionally, important tax and financial records have been stored as hardcopies in desk drawers, filing cabinets and safe deposit boxes. Nowadays, it’s become increasingly popular and easy to digitize documents and store them electronically. This article explores the advantages and risks of this approach.
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Keeping up with the net operating loss rules
June 2020
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: When a trade or business’s deductible expenses exceed its income, a net operating loss (NOL) generally occurs. The rules applying to NOLs have changed and changed again. This article reviews how they’ve been revised, including most recently under the CARES Act.
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Don’t forget about your 2019 tax return
June 2020
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 510
Abstract: Earlier this year, in response to the novel coronavirus (COVID-19) crisis, the IRS deferred the filing and payment deadlines for federal tax returns. This article recaps the relief and discusses what taxpayers should know about filing an extension and contributing to certain savings accounts. A sidebar warns that no relief has been issued for 2019 estimated tax penalties.