Focus
Showing 337–352 of 393 results
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Tax tips to consider before 2009 ends
Year End 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 452
Abstract: This short article looks at a number of ways to save money in regard to maximizing retirement account distributions, deciding whether to sell investments that have incurred a loss, and purchasing a car or computer.
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Structure your company around the right business structure
Year End 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 744
Abstract: Many businesses that start out as sole proprietorships find that such a business structure leaves them ill-prepared to cope with increased tax, liability and administrative burdens as the business grows larger and more complex. But there are other structures available, including general and limited partnerships, S and C corporations, and limited liability companies. To avoid choosing the wrong business structure, it’s important to become educated on the advantages and disadvantages of each.
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Left a job? Pay heed to your 401(k) plan
Year End 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 1023
Abstract: After leaving a job (whether voluntarily or involuntarily), some may wish for greater flexibility in how their retirement money is invested than a 401(k) allows. One option is to roll over the money into an IRA, either directly or indirectly. This article looks at the distinction and examines the tax implications, while a sidebar discusses the temptation to cash out a retirement fund during an economic crisis.
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All hands on deck – Collaborative management can boost a family business’s profitability and its nonfamily employees’ sense of self-worth
Year End 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 632
Abstract: A management issue that’s unique to family businesses is keeping nonfamily employees from feeling undervalued on company endeavors simply because they aren’t family members. To keep nonfamily employees informed and motivated, it may be best to replace a traditional, top-down management style with a collaborative management approach. A strong leader who clearly communicates the company vision, a performance measurement system that emphasizes and rewards teamwork, and networking with other family businesses can help establish a collaborative management style.
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First-time homebuyer tax credit set to expire Dec. 1
October / November 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 268
Abstract: Those who are ready to purchase their first home should consider doing so before Dec. 1. Why? Because that’s when a refundable “first-time” homebuyer tax credit equal to 10% of the purchase price of a principal residence is set to expire. This short article looks at details of the credit.
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Don’t let family matters interfere with business matters
October / November 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: Even though knowing family members are watching the shop can be reassuring, the requirements of running a business can strain even the strongest family ties. The stresses can become further exacerbated when sibling rivalry exists or when one’s spouse is involved. But there are ways to address these issues, including treating siblings equally and dividing responsibilities between spouses.
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Now is the time – Take advantage of today’s low interest rates to transfer more wealth tax free
October / November 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 741
Abstract: To help jumpstart a struggling economy, the federal government began lowering key interest rates last year, and they remain at their lowest level in several years. This is good news for those looking to transfer wealth out of their estate. Lifetime giving strategies are particularly effective when interest rates are low because the probability of outperforming the hurdle rate — and, therefore, transferring wealth tax free — is high. This article explains what hurdle rates are, and details such giving strategies as family loans, grantor retained annuity trusts (GRATs) and charitable lead annuity trusts (CLATs).
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Preparing for any business scenario – A buy-sell agreement can steady a company through uncertain times
October / November 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: Smart business owners work to control the risks they can — such as if an owner leaves the company. To guard against the negative consequences that might arise from such a predicament, it’s important to be proactive and establish a buy-sell agreement. This article looks at some of the details of a buy-sell agreement, which is a contract among a business’s owners that sets guidelines for the transfer of their ownership interests. It discusses using life insurance to fund an agreement, while a sidebar explains the difference between fair market value and investment value when determining how to value a business.
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Ethics matter — now more than ever
August / September 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 521
Abstract: Even in healthy economic times when companies are thriving, business ethics can easily fall by the wayside. A poor economy only increases pressure on employees of every rank to do “whatever it takes” — even if it’s fraudulent or illegal. A company wishing to avoid these pitfalls needs to lay out the ground rules in a written policy and be prepared to enforce them. It also needs to develop strong internal controls and look out for poor quality control and evidence of fraud. And, it should be aware of specific potential risks when cutting costs.
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The right trust can help shield assets from creditors
August / September 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 606
Abstract: More than ever, people are looking for ways to protect their assets — and with good reason. With the erratic stock market and weakened home values, threats such as a frivolous lawsuit or a forced bankruptcy filing could sink a business owner’s financial ship. Or, he or she may be more concerned about threats to assets being passed to children. All of these threats can be battled by placing assets in a trust — but not just any trust. Spendthrift trusts and offshore trusts may offer special protection — although there are some caveats.
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Rewarding nonfamily employees – Offer “alternative” compensation and benefits
August / September 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 587
Abstract: Family business owners understand the need to reward their nonfamily workers. After all, in many cases, these employees make up the lion’s share of a company’s workforce. But it can be difficult to keep the “lions” motivated when family employees are also owners and nonfamily employees aren’t. To avoid giving ownership interests to nonfamily members, consider instead offering them “alternative” compensation and benefits. These may include matching contributions for a retirement plan or, for executive employees, participation in a nonqualified deferred compensation plan. Phantom stock and fringe benefits are also possibilities.
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Does your retirement future look as bright as it used to?
August / September 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 925
Abstract: Many people approaching their “golden years” are understandably nervous about opening their retirement plan statements these days. Although leaving the workforce — and a steady income — behind during the current economic downturn probably isn’t ideal, it may still be possible to retire in style. But it’s important to look at finances. How lavish a retirement is desired? Will there be enough money for health care? Beyond Social Security, one must look to a tax-advantaged retirement plan, such as a 401(k), IRA, or simplified employee pension (SEP). Or one can work longer, but retirement plan minimum distribution requirements take effect at age 70½ (although, as a sidebar explains, these have been suspended for 2009).
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Mom, Dad, we need to talk – Why it’s necessary to discuss finances with aging parents
June / July 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 365
Abstract: Talking with aging parents about their finances can be emotionally taxing for them — and you. But with some advance planning — and a lot of sensitivity and respect — you can help your parents manage their emotions and their finances. This brief article lists a few of the things you need to discuss.
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Joint tenancy arrangements carry significant risks
June / July 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 725
Abstract: One way some individuals sidestep the formalities of a will is to place property in “joint tenancy with the right of survivorship.” Under this arrangement, the property is co-owned by two parties, with ownership ceding to the surviving owner upon one party’s death. Although it sounds simple, joint tenancy carries significant risks. This article looks at the specific risks involved regarding legal conflicts, Medicaid disqualification and tax liability.
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Be cautious when asking for business loans from family members
June / July 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 524
Abstract: A family business owner might be tempted to use family members as a source of capital. But receiving money from family members can be like a double-edged sword: For tax purposes you may structure the transactions as outright gifts or as loans. But too much debt from these loans can signal bankers and potential investors that your business is financially unstable. Here are tips on how to treat the debt the same as you would if you held it with outside investors or lenders.
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Are your independent contractors truly independent?
June / July 2009
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 824
Abstract: In today’s belt-tightening economy, some businesses are replacing downsized workers with independent contractors (ICs) to eliminate the costs of maintaining full-time employees. But just because your company considers workers as ICs doesn’t mean the IRS will. This article offers guidelines to help companies observe the distinction between supporting and controlling the way an employee works, and a sidebar warns that companies must be careful to protect the tax-qualified status of their benefit plans when reclassifying ICs as employees.