Focus
Showing 65–80 of 393 results
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How to benefit from the Work Opportunity Tax Credit
April / May 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: One strategy that may benefit both a business and its workers is to hire employees from specific “target” disadvantaged groups, thus enabling the business to qualify for the Work Opportunity Tax Credit (WOTC). Scheduled to expire after 2020, the WOTC was recently extended for five years, through 2025, by the Consolidated Appropriations Act. This article discusses the different target groups for whom the WOTC is available.
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Protect family assets with a trust
April / May 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 648
Abstract: Trusts can be a great way to protect family financial security, but each type of trust has its own benefits and drawbacks. This article looks at several types of trusts, including spendthrift trusts and offshore trusts. The article points out that it’s essential to examine the different types of trusts in detail with a financial advisor to ensure that the type of trust established will best protect assets going forward.
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Should you adjust pay rates for remote employees living in lower-cost locations?
April / May 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 695
Abstract: If a business’s compensation rates are relatively high because of the cost of living in the surrounding area, reducing pay for remote employees who move to lower-cost areas may seem to make business sense. But there are many factors to consider. This article takes a look at the advantages and disadvantages of various approaches and notes the importance of relying on solid compensation data to support the most appropriate compensation approach, given the business’s circumstances.
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Chances of qualifying for medical deduction are looking better
April / May 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 849
Abstract: The Consolidated Appropriations Act extends the lower deduction floor for medical expenses past its scheduled expiration date. Even better, the new law change is permanent, meaning it has no expiration date. This article explains that taxpayers can benefit from this provision until Congress changes the threshold again — so, they might have a better chance of qualifying for a deduction this year, next year or beyond than in the recent past.
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Should you elect S corporation status?
February / March 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: If business owners want to switch from their current C corporation status to S corporation status for the 2021 tax year, they have until March 15, 2021, to make the election. Otherwise, as tax law stands now, they generally must wait another year. This article explains the variables owners need to consider in determining whether to make the switch.
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Be vigilant and avoid fraud traps
February / March 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: The only way for individuals to make sure they don’t become victims of fraud is to stay up to date on the continually evolving methods criminals might try to use and learn how to counteract those methods. This article offers some ways people can defend themselves, such as conducting due diligence on charities before donating and learning how to detect phishing emails.
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Attracting outside investors with a good pitch deck
February / March 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: Business owners trying to attract outside investors probably could benefit from preparing a “pitch deck”: a digital presentation that provides a succinct, compelling description of the business, its solution and the benefits of the investment opportunity. This article discusses the elements of a good pitch deck, including identifying the problem the company solves, describing the target market and highlighting the company’s performance to date.
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Ways you can still cut your 2020 taxes
February / March 2021
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 870
Abstract: The year may be over, but it’s not too late for taxpayers to cut their taxes. This article contains some timely strategies that could still make a difference for individuals’ tax bills, including contributing to an IRA, contributing to an HSA or taking a home office deduction. A brief sidebar explains that self-employed individuals with a Simplified Employee Pension (SEP) plan may be eligible to deduct SEP contributions for the 2020 tax year.
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7 11th-hour tax strategies for individuals
Year End 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: There’s still time for individuals to cut their 2020 tax bills. This article offers seven last-minute tax strategies to consider at the end of this tumultuous year, including donating to charity, using capital losses to offset capital gains and adjusting income tax withholding. The article notes that more tax strategies may be available, depending on the taxpayer’s specific circumstances.
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The pros and cons of long-term care insurance
Year End 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 700
Abstract: The COVID-19 pandemic has served as a reminder of how hard it can be to deal with an unexpected health crisis, and how important it is to foresee and plan for potential health care needs before they arise. One such potential eventuality is long-term care (LTC). While an insurance policy can be the best approach, this article suggests that, before committing to LTC insurance, an individual should weigh the benefits and drawbacks.
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Remote control – Preventing employee security breaches
Year End 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: In light of ongoing concerns about the COVID-19 pandemic, remote work appears likely to be with us in some form for the foreseeable future. So, it’s important for companies to ensure that their connections to employees working from home remain as secure as possible. This article suggests some security steps businesses can take, including having employees use business-issued devices and implementing dual-factor authentication. The article notes that a multilayered defense is likely to prevent security breaches.
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Appreciate these depreciation tax breaks
Year End 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: Businesses that have been ramping back up at year end may need to buy business property for the rebound. This article highlights several key potentially beneficial depreciation-related tax breaks for companies, such as a first-year “bonus depreciation” deduction and a MACRS deduction. A sidebar discusses tax rules relevant to business driving.
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Budgeting for baby
October / November 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 583
Abstract: According to the U.S. Department of Agriculture, the cost of raising a baby to age 18 can top $230,000, after factoring in generally higher housing costs, health care and other expenses — but before including college costs. In light of these facts, this article suggests several steps that will help bolster a family’s financial stability, including obtaining the right kinds of insurance and reviewing tax breaks for dependent care.
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Timing is everything – Take advantage of temporary rule changes in your year-end tax planning
October / November 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 450
Abstract: It’s the time of year when businesses often consider income-tax-minimizing strategies such as deferring revenue and accelerating expenses. But the COVID-19 pandemic, the resulting economic downturn and the upcoming election put a different spin on this year’s tax planning. This article offers some tactics worth considering now, such as writing off bad debt. In addition, the article notes that the CARES Act extends additional tax relief that could reduce liability.
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What are the pros and cons of the new QIP depreciation breaks?
October / November 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 760
Abstract: One tax benefit of the CARES Act is that it allows real property owners to depreciate real estate qualified improvement property (QIP) faster than before. This article points out that the rule change was made in response to an earlier drafting error in the 2017 TCJA. Under the CARES Act, QIP is now included in the Internal Revenue Code’s definition of 15-year property, so it can be depreciated over 15 years for federal income tax purposes. The article explains the possible benefits and drawbacks of the new QIP depreciation tax breaks.
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Year-end tax planning tips for individuals – 2020 presents challenges and opportunities
October / November 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: COVID-19’s impact is being felt across the financial spectrum, from lower interest rates, slashed dividends and reduced incomes to unpredictable stock market swings. At this volatile time, it’s important for individuals to be aware of some potential strategies for reducing their income tax liability before the end of the year. These include charitable giving and converting pretax traditional IRAs to after-tax Roth IRAs. A sidebar discusses strategies related to gift and estate taxes.