November / December
Showing 465–480 of 609 results
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Why jointly owned property may not be a good idea
November / December 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 760
Abstract: Many well-meaning parents think they can avoid estate planning by simply jointly owning their property with their children. But this may not be such a good idea. For one thing, the value of the gift will be counted toward the parents’ lifetime gift/estate tax exemption. For another, the heir may owe capital gains tax if the property is sold. The transfer could even lead to a denial of Medicaid benefits down the road. This article explores the pitfalls.
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Tax treatment of debt forgiveness – Watch out for tax bills delivered “COD”
November / December 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 970
Abstract: For many debtors receiving financial help, the initial feeling of relief is quickly replaced by surprise and confusion when they discover they owe taxes on cancellation-of-debt (COD) income. This article explains what qualifies as COD income, and what debts qualify as exceptions or exclusions. A sidebar explains how some COD income can be excluded under the Mortgage Forgiveness Debt Relief Act of 2007.
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Determining business value — Site visits can make all the difference
November / December 2011
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 759
Abstract: A site visit is an important step that can make all the difference in determining a company’s value. The most obvious reason appraisers perform site visits is to gain a better understanding of how the company operates and view the onsite factors that may enhance — or decrease — the company’s value. This article explains how valuators conduct such visits and what they look for.
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Does goodwill equal noncompete?
November / December 2011
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 390
Abstract: Goodwill is one of the gray areas in divorce. Most states specifically exclude all or part of goodwill when dividing the marital estate. A recent Ohio divorce case eliminates the guesswork by equating a dentist’s personal goodwill with the portion of the actual selling price that was allocated to a noncompete agreement. This article looks at the details.
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The what, when, how and who of blockage discounts
November / December 2011
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: Discounts for lack of control and marketability are common in business valuation. But a lesser-known discount for blockage may apply when valuing large blocks of public stock with limited trading volume. This article describes what blockage discounts are, when they apply and how valuators quantify them.
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Transaction databases: Handle with care
November / December 2011
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 923
Abstract: Transaction databases reveal details of thousands of real-life stock sales, whether public or private, control or minority. But, used incorrectly, these databases can mislead — or skew the results. Handling these elements effectively requires competence, expertise and experience. This article explores the differences between various databases and how to select one or more pricing multiples. A sidebar explains the assumptions that appraisers make about what constitutes a “guideline” transaction.
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Hunting for treasure in hidden assets
November / December 2011
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: In a variety of litigation contexts — such as fraud investigations, shareholder disputes, divorce and business valuation — forensic accountants use several techniques to uncover and demonstrate the existence of assets. This article summarizes two important methods: performing net worth analysis and reviewing tax returns.
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Estate divided: Tax Court rejects fractional ownership claim
November / December 2011
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 508
Abstract: Does the mere execution of grant deeds transferring undivided interests in property create fractional interests? No, according to the U.S. Tax Court. This article looks at a case in which the decedent had executed a grant deed transferring undivided one-fifth interests in land to each of his five children as tenants-in-common. But, because he retained a life interest in the property by retaining control of it, the ownership wasn’t split until his death. This meant that the entire value of the property was includible in the gross estate.
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After Kumho – Financial experts continue to face admissibility challenges
November / December 2011
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 829
Abstract: In 1999, the U.S. Supreme Court’s decision in Kumho Tire Co. v. Carmichael clarified that the Daubert criteria for admissibility of expert testimony applies to all types of experts. This article discusses a recent PricewaterhouseCoopers (PwC) study that sheds light on some of the factors that determine the admissibility of expert testimony. A sidebar talks about correlations the study found between the frequency of challenges and whether the expert served the defendant or the plaintiff.
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TRIM command poised to change computer forensics as we know it
November / December 2011
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 736
Abstract: Over the past decade, attorneys have come to recognize the valuable role computer forensics play in recovering key financial information from hard drives. But the increasing availability of the TRIM command in computer operating systems is poised to dramatically reshape the field of computer forensics. This article explains how the command purges data completely, so that not even remnants are left behind for experts to subsequently dig up and reassemble. But there are also ways to work around TRIM.
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The tax lay of the land – Familiarize yourself with a new state’s tax laws
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: This article discusses the case of “Justin,” who is purchasing a second home in another state to be closer to a sick family member. But he still expects to spend time during the year in his old home. His tax advisor then called to inform Justin about his new state’s tax laws and the need to establish a legal “domicile,” or principal place of residence. He explains that a person can have many homes but only one domicile, and discusses how to establish one so as to obtain the most advantage of states’ different tax laws.
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HSA + HDHP = cost-effective health care funding
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 773
Abstract: Because of the rising cost of health care, individuals are looking for cost-effective ways to fund it. The combination of a Health Savings Account (HSA) and a high-deductible health plan (HDHP) is one solution. This article explains the basics of how they operate together, what it takes to qualify, and why this solution might be better for some than for others. A sidebar shows the 2012 HSA contribution limits and HDHP costs.
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Gain financial flexibility with a savings plan
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: A person who’s achieved some measure of earning power might be inclined to think that saving will somehow take care of itself. That would be a mistake. There’s no telling when an unexpected turn of events, such as a job loss or an extended illness, could quickly empty one’s bank account. Consequently, the smartest strategy is to begin saving as much as possible, as early as possible. This article offers tips for getting started early.
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Is it time to sell? Knowing when to get rid of a security requires strategy
November / December 2011
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 666
Abstract: If an investment is doing well, the tendency is to want to stick with it to see if it does even better. If it’s doing poorly, the inclination is to hang on until it’s back to breakeven. But both of these scenarios can turn out badly. So when is the right time to sell? This article offers some reasons to sell, such as when a company is in decline or it’s necessary to balance one’s portfolio. A sidebar discusses selling in tax-deferred vs. taxable accounts.
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Ask the Advisor – How are reportable income and deductions determined?
November / December 2010
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 414
Abstract: Determining rental income and deductions for federal tax purposes isn’t always as straightforward as it might seem. Sources of taxable rental income can be overlooked and deductions can be overstated. If such mistakes are uncovered in an IRS audit, they could prove costly. This article looks at the variety of sources that can constitute rental income, along with deductions that will and will not be allowed.
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Minimizing the bite of property taxes
November / December 2010
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: With many states and municipalities coming up against budget shortfalls, real estate owners and investors will likely see property tax hikes in the near future. But this article explains that there are three ways to minimize the pain: Watch out for double dipping, understand how cap rates affect property tax assessments, and take available tax credits.