March
Showing 33–48 of 53 results
-
Run a business “on the side”? Make sure it’s no hobby
March 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 265
Abstract: A business that’s run “on the side” might not be a business at all in the eyes of the IRS. To ensure some pursuits are really businesses — and not mere hobbies intended primarily to offset other income — the IRS enforces what are commonly referred to as the “hobby loss” rules. This brief article looks at the details.
-
Why you might want to not claim your child as a dependent
March 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 409
Abstract: Understandably, many parents get in the habit of claiming their children as dependents on their federal tax returns. But there is a valid reason to break the habit. This article explores the concept of not claiming a child as a dependent so he or she can qualify for a valuable tax credit related to higher education.
-
5 things to know about substantiating donations
March 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 478
Abstract: There are virtually countless charitable organizations to which one might donate. But, no matter the donation, the individual making the contribution will need documentation. This article provides five important points about substantiating donations.
-
Walk the PATH to tax savings for 2015
March 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: Many taxpayers expect to encounter a few roadblocks while traversing their preferred tax-saving avenues. Fortunately, tax extenders legislation signed into law this past December may make filing a little easier this year. This article walks through just a few highlights of the PATH Act — including pertinent provisions for both individuals and businesses. A sidebar notes that the provision allowing older taxpayers to make direct contributions from their IRA to qualified charities is now permanent.
-
Tax Increase Prevention Act of 2014 (TIPA)
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 605
Abstract: The Tax Increase Prevention Act of 2014 (TIPA) was signed into law on December 19, 2014. It retroactively extends most of the federal income tax breaks that would have affected many individuals and businesses through 2014. This article discusses some of the extended provisions impacting individual taxpayers, such as the qualified tuition deduction, the mortgage insurance premium deduction, and more.
-
Tax breaks for businesses extended through 2014
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 618
Abstract: This article describes a variety of business tax breaks that were extended through 2014. They include extended cost recovery provisions, along with certain business credits, a deduction for energy-efficient commercial buildings, and more.
-
National Taxpayer Advocate delivers annual report to Congress
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 174
Abstract: This article discusses National Taxpayer Advocate Nina E. Olson’s concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001. She offers several corrective measures.
-
4 good reasons to direct deposit your refund
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 180
Abstract: Using direct deposit for a tax refund offers convenience and security, among other advantages. This article explains why.
-
ABLE accounts for disabled individuals
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: The Achieving a Better Life Experience Act (ABLE) of 2014 establishes a new type of tax-advantaged account for disabled individuals, allowing them to save money for future needs while remaining eligible for government benefit programs. This article discusses details of the act, including who is eligible and contribution limits.
-
When is a marriage terminated for tax purposes?
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 401
Abstract: This article explains the situations in which a marriage is considered terminated for tax purposes. In some divorce situations, where the “abandoned spouse” rule does not apply, a spouse may be reluctant to file a joint return due to the joint and several tax liability resulting from joint returns. In some instances, completing the divorce and terminating the marriage may in fact save income taxes.
-
Taxpayer Advocate reports to Congress
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: National Taxpayer Advocate Nina E. Olson recently released her annual report to Congress, urging the Internal Revenue Service to adopt a comprehensive Taxpayer Bill of Rights (TBOR) — a step she said would increase trust in the agency and, more generally, strengthen its ability to serve taxpayers and collect tax. This article looks at why she feels the IRS is not performing up to its potential level of effectiveness.
-
Passive activity loss limitations
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 506
Abstract: The passive activity loss (PAL) rules were introduced by the Tax Reform Act of 1986 and were designed to curb perceived tax shelter abuses. However, the PAL rules are far-reaching and affect activities other than tax shelters. Additionally, these rules limit the deductibility of losses for federal income tax purposes. This article explains what constitutes a passive activity and particularly how the rules affect rental activities.
-
Minimum required distribution reminder
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 81
Abstract: This brief article notes that taxpayers who turned 70½ in 2013 need to prepare to take their first minimum required distribution or face a steep penalty.
-
Lifetime vs. testamentary contributions
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 463
Abstract: Many taxpayers with charitable intentions struggle with the decision of whether to donate property to charity during their lifetimes or to make a charitable bequest in their wills that will be fulfilled from property included in their estates (testamentary bequests). While taxpayers frequently base their choice between lifetime charitable gifts and testamentary bequests on nontax considerations, this article discusses the tax implications of their decision.
-
Filing status for separated, divorced or divorcing couples
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 111
Abstract: People who are in the process of divorce might still be married for tax purposes. This brief article notes the five tax filing categories for individuals.
-
Direct IRA contribution provision extended
March 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 259
Abstract: The American Taxpayer Relief Act of 2012 extended the IRA rules that allow taxpayers age 70½ or older, who have one or more IRAs and a desire to make charitable contributions, to receive tax-free treatment of distributions when they’re donated to charity. This brief article explains the details.