March
Showing 49–53 of 53 results
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Business provisions of the new tax act
March 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 543
Abstract: The 2012 American Taxpayer Relief Act includes a wide-ranging assortment of tax changes affecting both individuals and businesses. On the business side, two of the most significant changes provide incentives to invest in machinery and equipment by allowing for faster cost recovery of business property. This article looks at the legislation as it pertains to enhanced small business expensing (Section 179 expensing) and an extension of additional first-year depreciation.
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New Roth IRA conversion option
March 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 151
Abstract: A provision in the recently enacted 2012 American Taxpayer Relief Act permits an individual to convert any portion of their balance in an employer-sponsored tax-deferred retirement plan account into a Roth IRA account under that plan. But this brief article notes some caveats.
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American Taxpayer Relief Act of 2012
March 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 784
Abstract: The American Taxpayer Relief Act of 2012 provides relief for most taxpayers, but will increase the tax bill for high-income folks. The Act includes, among other items, permanent extension of the Bush-era tax cuts for most taxpayers; revised tax rates on ordinary and capital gains income for high-income individuals; modification of the estate tax; a permanent fix of the AMT for individual taxpayers; limits on deductions and exemptions of high-income individuals; and numerous retroactively reinstated and extended tax breaks for individuals and businesses. This article discusses several of the Act’s provisions impacting individual taxpayers.
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Reporting foreign financial assets
March 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 522
Abstract: The IRS has implemented new regulations designed to uncover information on foreign assets owned by U.S. taxpayers. Where taxpayers have an interest in one or more specified foreign financial assets exceeding certain threshold amounts, additional information must be included in their tax return. This article explains “specified foreign financial assets” and the types of information that must be reported.
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Tax planning following a job loss
March 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 211
Abstract: Taxpayers dealing with a layoff or termination frequently overlook the tax consequences of events associated with their unexpected job loss. Yet, properly handling the tax aspects of this life-changing event could prevent a negative financial impact. This article discusses the tax treatment of severance pay, job placement assistance, moving expense reimbursements and distributions from a qualified retirement plan.