March
Showing 1–16 of 53 results
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The Child Tax Credit is still available
March 2024
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 237
Abstract: Parents know that raising children is expensive. Although some of the enhancements of the Child Tax Credit (CTC) have expired, the credit is still available for eligible parents of children under age 17. Plus, there’s still time for taxpayers to claim the CTC on their 2023 tax returns, if they haven’t filed yet. This short article reviews the current rules.
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Have you recently reviewed your life insurance needs?
March 2024
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 382
Abstract: At one time, life insurance played a much bigger role in estate planning than it does now. That’s because life insurance was needed to pay estate tax, which affected more people than it does now. With the federal gift and estate tax exemption now at $13.61 million for 2024, far fewer families must pay estate tax. Here’s how to evaluate your life insurance needs in light of circumstances today.
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Hiring? How to benefit from the Work Opportunity Tax Credit
March 2024
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 457
Abstract: Businesses that are seeking to hire should be aware of a valuable tax credit for hiring individuals from one or more targeted groups. Employers can qualify for the Work Opportunity Tax Credit (WOTC), which is worth as much as $2,400 for most eligible employees ($4,800, $5,600 and $9,600 for certain veterans and $9,000 for long-term family assistance recipients). The credit is generally limited to eligible employees who begin work for the employer before January 1, 2026.
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Retirement saving options for your small business
March 2024
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: Business owners who wish to set up a retirement plan for themselves and their employees may be worried about the financial commitment and administrative burdens involved. This article looks first at a “simplified employee pension” (SEP). Small business owners who establish and contribute to a SEP by the due date of their 2023 tax returns can still see tax savings for 2023. A sidebar describes a second retirement saving option, which is a “savings incentive match plan for employees” or SIMPLE.
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Reconsidering your personal emergency fund
March 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 261
Abstract: Back in 2020 when the COVID-19 pandemic first hit, many people’s emergency funds were suddenly put to the test. Now, presumably with the benefit of some hindsight, the financially savvy might want to reconsider their approach to saving. This brief article discusses some key points to keep in mind.
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Have a foreign account? File an FBAR
March 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 400
Abstract: In an increasingly global society, many taxpayers hold foreign accounts. This article explains the rules regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) with the government.
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Can you deduct the costs of a spouse on a business trip?
March 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 499
Abstract: A company owner who travels on business, accompanied by his or her spouse, may be able to deduct all the travel expenses incurred by the spouse. However, the rules are restrictive, starting with the requirement that the spouse must be a bona fide employee of the company. Failure to meet that rule is the reason why, in most cases, a spouse’s travel costs aren’t deductible.
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SECURE 2.0 law may make you more secure in retirement
March 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 539
Abstract: A new law was recently passed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. A sidebar discusses changes to Achieving a Better Life Experience (ABLE) accounts available to certain disabled taxpayers.
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Act fast and you may avoid forfeiting FSA funds
March 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 252
Abstract: An employer-sponsored flexible spending account allows participants to pay health care costs with pre-tax dollars and be reimbursed, tax-free. Unused funds at year-end may be forfeited unless the plan includes one of two exceptions. In 2021, the IRS added some items to the list of qualifying expenses. This article gives details.
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What to do about fraudulent credit or debit card charges
March 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 379
Abstract: It’s an awful feeling to learn that your credit or debit card has been used fraudulently. Whether you’re liable for charges typically depends on the type of card, whether you still possess the card and when the card issuer is alerted. This article provides further details.
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Hiring? You may be eligible for a valuable credit
March 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 493
Abstract: Business owners who intend to hire should be aware of a recent law that has extended through 2025 a valuable credit to those that hire members of certain targeted groups. This article provides the limits and other details of the Work Opportunity Tax Credit and how employers can qualify to claim it.
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Slim your 2021 tax bill by fattening your IRA
March 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 544
Abstract: It may not be too late to lower your 2021 tax bill. Qualified individuals can still make deductible contributions to traditional IRAs until the tax filing date of April 18, 2022, and claim the deduction for 2021. This article provides details, including alternate strategies.
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Reconsidering your personal emergency fund
March 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 259
Abstract: When the COVID-19 pandemic first hit, many people’s emergency funds were suddenly put the test. Now, presumably with the benefit of some hindsight, the financially savvy might want to reconsider their approach to saving. This brief article discusses some key points to keep in mind.
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Have a foreign account? File an FBAR
March 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 395
Abstract: In an increasingly global society, many taxpayers hold foreign accounts. This article explains the rules regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) with the government.
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Home’s where a tax break might be
March 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 471
Abstract: The interest that homeowners pay on their home mortgages may provide a tax break in the form of the mortgage interest deduction. However, a taxpayer must itemize deductions on his or her tax return and follow a few other rules. This article provides some details.
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PPP loans: One year later
March 2021
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 543
Abstract: About a year ago, the Paycheck Protection Program (PPP) was launched in response to the COVID-19 crisis. Business owners who took out such a loan are likely curious about the tax consequences, particularly for forgiven loans. This article provides pertinent information. A sidebar announces the launch of “second-draw” PPP loans.