Focus
Showing 241–256 of 393 results
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The AMT: Permanent “patch” provides relief, but not full protection
Year End 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: While the alternative minimum tax (AMT) initially was implemented to prevent wealthy Americans from claiming so many tax breaks that they owed little or no tax, it has steadily hit more middle and upper middle class taxpayers. Minimizing this effect has historically required Congressional action for inflation adjustments, referred to as “patches.” This article points out that, even though Congress has now made the patch permanent, there are still ways that the tax can be triggered. But strategies are available for minimizing AMT liability or even taking advantage of the AMT’s lower rates.
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How a buy-sell agreement can help save your company
Year End 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 652
Abstract: Any company might go through a change in ownership. Partners may choose to leave the business, die or become disabled. Such occurrences illustrate the need to have an ironclad agreement to ensure all partners are protected. As this article explains, a buy-sell agreement serves this purpose. It helps prevent potential conflicts among remaining owners and with a deceased owner’s family members, and specifies how the ownership change will be funded. Also explained is the difference between a cross-purchase agreement and a redemption agreement.
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A look at Section 529 plans – Understanding the rules is critical
Year End 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: As the costs of higher education continue to rise, a great option for families is to sign up with a savings vehicle that offers a tax break as they sock away money. A qualified tuition plan — also known as a Section 529 college savings plan — is an example. This article explains how 529 plans work and why they’re so popular — but also notes some drawbacks.
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Education is key to participation in retirement plans
Year End 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 764
Abstract: Almost any article on retirement savings efforts reaches the same conclusion: We aren’t saving enough. One reason is that not all employees are taking full advantage of their employer’s retirement savings plan. This article discusses ways to increase employee participation. The process begins with educating employees, but it’s also important that the employer plan include six particular elements. A sidebar explains how participation by non–highly compensated employees benefits highly compensated employees.
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3 ways for higher-income taxpayers to enjoy tax-free Roth accounts
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 318
Abstract: Roth IRAs offer substantial benefits. Although contributions aren’t deductible, qualified distributions are tax-free — the growth is never taxed. And unlike traditional IRAs, Roth IRAs have no required minimum distributions, so those who don’t need the money in retirement can let the entire balance grow tax-free to benefit their heirs. But modified adjusted gross income (MAGI)-based phaseouts limit who can contribute. This article lists three ways higher-income taxpayers can still take advantage of Roth accounts.
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Don’t let estate taxes force your heirs to sell the family business
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 719
Abstract: Many family business owners spend years nurturing their companies with the goal of providing a livelihood for their heirs. But often their estates don’t have enough cash to pay estate taxes and other expenses after they die, which can force the family to sell the business. This article describes Internal Revenue Code Section 6166, which allows a portion of the estate tax to be deferred — but not without potential disadvantages.
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New financial reporting options for small businesses
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: For those who own and run a small, privately held business, reporting financial performance usually means choosing between Generally Accepted Accounting Principles (GAAP) and special purpose frameworks, more commonly known as other comprehensive basis of accounting (OCBOA). In June, the American Institute of Certified Public Accountants introduced a new OCBOA called the “Financial Reporting Framework for Small- and Medium-Sized Entities” (FRF for SMEs). This article discusses how this differs from GAAP, and also looks at proposals made by the Private Company Council, charged with improving the process of setting accounting standards for private companies that prepare GAAP-based financial statements.
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The IRS offers a simpler home office deduction
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 829
Abstract: Earlier this year, the IRS announced a simplified option, also known as the “safe harbor” option, for calculating the home office deduction. Taxpayers can use the new option in tax years that begin on or after Jan. 1, 2013. This article discusses how this simplified option differs from the regular method of calculating a home office deduction in several ways. However, some might save more tax by sticking with the regular method. And, as a sidebar explains, the home office deduction can be one of several that can trigger the alternative minimum tax.
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Work with an expert when it’s time to value your company
August / September 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 690
Abstract: Oftentimes, business owners require a valuation of their company. Some might believe that they know the value of their business down to the last penny. But they’d likely be wrong. Placing a correct value on a business is only achieved via a complicated process, which is best left to a professional appraiser. This article explains the appraisal methods and indicators of value that appraisers use, according to the reasons for the valuation, the availability of data, and the specific characteristics of the company.
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Health care act may make HSAs more attractive
August / September 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 449
Abstract: Health Savings Accounts (HSAs) allow a tax-advantaged way to fund health care costs. And the 2010 health care act may make HSAs even more attractive. Why? Because the act sets a higher threshold for deducting medical expenses. This article discusses the threshold, and explains how an HSA can allow a person to save taxes on medical expenses without meeting any threshold and regardless of his or her income level. A chart lists monetary limits for both an HSA and the associated high-deductible health plan (HDHP).
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6 ways to survive an IRS audit
August / September 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 674
Abstract: Only about 1% of individual tax returns are audited each year. Of those, about three-quarters are correspondence audits that are handled by exchanging information via snail mail. The remainder, which are selected for field audits, are conducted by IRS officers. Still, it’s helpful to know what might happen if one’s return is picked. This article offers six tips regarding how to be prepared for an audit.
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Don’t be caught off guard – Employing cybersecurity for small businesses
August / September 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 878
Abstract: Large cases of cybersecurity breaches tend to dominate the headlines. But smaller businesses also are at risk. In fact, one recent report states that businesses with up to 100 employees made up nearly one-third of the organizations that had been victims of a breach in the preceding year. This article offers eight tips to help keep perpetrators from penetrating an organization’s IT network and discusses what to do to be prepared in case a breach does occur.
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Expanded Medicare taxes may take a bite out of your 2013 income
June / July 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 437
Abstract: The 2010 health care act includes some significant tax provisions, the most notable of which impose expanded Medicare taxes on higher-income taxpayers. This article takes a look at the additional 0.9% Medicare tax on FICA wages and self-employment income, along with the 3.8% Medicare contribution tax on some or all net investment income.
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A balancing act: Should you raise prices or lower them?
June / July 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 687
Abstract: As the U.S. economy continues to just plod along, thousands of business owners face a delicate balancing act: Should they implement higher prices for their products and services in order to become more (or stay) profitable? Or should they stand behind their clientele and keep prices as low as possible? This article discusses the situational factors that owners should consider when developing a pricing strategy, along with different strategies to help gain market share and increase profitability.
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Unauthorized credit and debit card transactions – Know the facts about your liability
June / July 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 805
Abstract: In the United States, a cardholder’s liability for a fraudulent transaction can depend on the type of card used as well as the transaction type. This article describes general policies in regard to credit vs. debit cards. A sidebar offers five tips for safeguarding cards.
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Upgrading your website – Enhancing your online presence is a must
June / July 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: Despite the critical role websites play in most businesses’ marketing initiatives, many suffer from ineffective designs that visitors find difficult to read or navigate. This article shows how a company can ensure its site is doing all it can to reflect positively on the business. It involves having fresh, visually appealing content that’s easy to access and that allows the company to use site visit data to more precisely target marketing efforts and potentially boost traffic and revenue.