Focus
Showing 113–128 of 393 results
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Save more with retirement savings accounts
April / May 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: To help people save more for retirement, limits on the amounts they can contribute to many types of retirement plans have increased. This article looks at some common retirement plans and specifies how the limits have changed for each one. The article suggests that boosting contributions this year could both reduce this year’s tax bill and increase retirement savings.
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Does the TCJA affect the “price” of your donations?
April / May 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 731
Abstract: For years, charitable givers have benefited from tax breaks that provided them with extra incentive to donate substantial amounts to charities of their choice. With the passage of the Tax Cuts and Jobs Act (TCJA), however, that incentive has been reduced for many taxpayers. This article discusses the potential tax impact in light of the new rules. By understanding the impact of the new tax rules on giving, individuals can set up a giving plan that benefits everyone involved.
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Getting up to speed – Now may be the time to purchase business vehicles
April / May 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 684
Abstract: The Tax Cuts and Jobs Act (TCJA) more than tripled depreciation allowances for “luxury autos.” It also temporarily enhanced “bonus” depreciation for some business assets, boosting first-year depreciation deductions for passenger autos and allowing businesses to immediately deduct the full cost of heavier vehicles. This article suggests that, to reduce the costs of purchasing one or more vehicles for business purposes significantly, business owners may be able to take advantage of these enhanced tax breaks.
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How to prepare for the new lease accounting standard
April / May 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 886
Abstract: The goal of the Accounting Standards Update Leases (Topic 842) — often referred to as ASC 842 — is “to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements,” according to the FASB. This article offers some steps companies can take to prepare to comply with the new standard. It notes that, while the work required to comply is significant, it will lead to a better understanding of the lease terms in effect — thus helping companies leverage economies of scale and more effectively negotiate future leases.
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Paying off your mortgage before you retire
February / March 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 440
Abstract: A Fannie Mae study found that less than 50% of homeowners age 65 to 69 were mortgage-free in 2015, down 10 percentage points from 2000. This brief article notes that homeowners will probably come out ahead by eliminating their mortgages before they stop working — but not always. The article discusses the pros and cons of paying off mortgages before retirement.
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Family matters – Will tax reform affect your 2018 return?
February / March 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 734
Abstract: Taxpayers filing their 2018 tax returns on the new Form 1040 should expect to see some big differences — not just in the form itself, but also in their bottom lines. This year’s return will reflect changes made by the Tax Cuts and Jobs Act (TCJA), and for many families the act will live up to its name. But not everyone will enjoy a tax cut — some households may see their tax bills go up. This article discusses some of the ramifications of the TCJA for families.
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Just passing through – How to deduct business losses after the TCJA
February / March 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 731
Abstract: The pass-through entity structure, which includes sole proprietorships, partnerships, S corporations and certain limited liability companies (LLCs), provides owners with some valuable tax benefits, such as avoidance of double taxation and the potential ability to deduct losses from the business on their individual tax returns. But under the Tax Cuts and Jobs Act (TCJA), there are some new limitations on deducting business losses. This article looks at the changes in the rules and how they might affect owners of pass-throughs.
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Best practices in issuing pay raises
February / March 2019
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: Typically, business owners offer raises that recognize employee expertise, accomplishments and loyalty while keeping their pay scales roughly in line with those offered by other firms in their industries and geographic locations. A business might want to reward specific employees who’ve made contributions to the company, but it will also want to maintain a level of equity with other workers’ compensation — while at the same time keeping payroll costs in line. This article explains how businesses can balance these competing goals by taking such steps as standardizing the criteria they use to determine raises and setting up a raise schedule. A sidebar discusses options when an employee is unhappy with a raise.
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Raising financially responsible kids
Year End 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 451
Abstract: Helping kids understand money when they’re young will help them develop sound financial habits that pay off when they’re adults. Discussions about money can start early, but need to be tailored to the child’s age. This article offers several tips on coaching children by maintaining an open dialogue about finances and modeling sound money management — at every age.
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Understand the ins and outs of estate planning under the TCJA
Year End 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 801
Abstract: Although the recent Tax Cuts and Jobs Act doesn’t get rid of the federal estate tax, it does contain several provisions that may significantly affect gift and estate tax planning. So individuals need to be proactive — and plan accordingly. This article discusses exemption changes and suggests several moves that may be helpful for estate planners. The article also explains the expansion of 529 plan tax benefits, which families can use to grow money tax-free for their children’s higher education, and notes some “kiddie tax” rate changes.
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New limit on interest expense deductions – Will it affect your business?
Year End 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 682
Abstract: The Tax Cuts and Jobs Act introduced a variety of tax benefits for businesses. At the same time, the act placed limits on several tax breaks, including the amount of interest expense a business may deduct. This article takes a closer look at the business interest limit and possible exemptions for small businesses, and notes that some real property businesses may elect not to apply the business interest limit, but must pay some penalties for that election. The article suggests that business owners should be aware that the IRS is expected to issue future guidance on these matters in the coming months.
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How your employees can save with payroll deduction IRAs
Year End 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 815
Abstract: Employers who’d like to offer employees a way to save for retirement without launching and operating a 401(k) or other employee benefit plan may want to consider payroll deduction IRAs. This article notes that these are relatively easy to establish and cost little to start and operate. And businesses of any size — as well as self-employed individuals — can take advantage of them. In addition, they can complement an existing retirement plan. A brief sidebar offers some pros and cons of setting up payroll deduction IRAs.
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Investing in your business still a powerful year-end tax planning strategy
October / November 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: One of the best strategies for business owners attempting to reduce their tax burden continues to be investing in business assets that will provide large depreciation-related deductions. In fact, as this article points out, such investments could provide larger deductions in 2018 than in 2017, thanks to the Tax Cuts and Jobs Act. In addition to discussing the potential benefits of bonus depreciation, the article explains how qualifying for Section 179 expensing might be a strategy also worth investigating.
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The pros and cons of a Roth IRA conversion
October / November 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 834
Abstract: Roth IRAs offer some important tax advantages over traditional IRAs. For example, qualified Roth IRA withdrawals are tax-free for federal purposes. And, unlike with traditional IRAs, you don’t have to start taking required minimum distributions from Roth IRAs after reaching age 70½, so the assets can grow tax-free indefinitely. This article explains that the quickest way to get a significant sum into a Roth IRA is by converting a traditional IRA to Roth status — but a conversion won’t be beneficial for every taxpayer. It also notes that a Tax Cuts and Jobs Act provision could make Roth IRA conversions riskier from a tax perspective.
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How TCJA changes to employee benefits will affect your business
October / November 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 586
Abstract: The Tax Cuts and Jobs Act (TCJA) mandates multiple changes to the tax treatment of employee benefits. This article notes that, though the TCJA was signed into law too late for employers to have made many adjustments to benefits offerings for 2018, they need to know how the changes will affect their businesses’ 2018 taxes. They also will need to determine whether they want to make any adjustments to their benefits packages going forward.
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Year-end planning for the new rules on deductions
October / November 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 950
Abstract: One of the areas most affected by the recent Tax Cuts and Jobs Act (TCJA) is planning for deductions. This article explains how the TCJA might change year-end tax planning and which deductions make sense under the new rules. The article looks at itemizing and discusses home-related interest, medical expense and charitable contribution deductions, among others. A sidebar lists the itemized deductions that the TCJA has suspended.