Tax & Business Alert
Showing 465–480 of 664 results
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Combined business and vacation travel
July 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 371
Abstract: If a business trip within the U.S. includes some vacation days, some of the expenses can be deducted. The question is how much. This article explains how to allocate business vs. personal expenses.
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Avoiding an inadvertent termination of S corporation status
July 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: An inadvertent termination of a company’s S corporation status can mess up even the best tax planning intentions. This article offers some important considerations and suggestions to help avoid an inadvertent loss of the company’s qualification to be treated as an S corporation. It discusses the 100-shareholder limitation and excessive passive investment income, among other considerations.
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What you should do with an identity verification letter from the IRS
June 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 368
Abstract: In its efforts to combat identity theft, the IRS is stopping suspicious tax returns that have indications of being identity theft, but contain a real taxpayer’s name and/or Social Security number, and sending out Letter 5071C to request that the taxpayer verify his or her identity. This article explains the procedures that a taxpayer receiving this letter should follow.
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Tax tips for farmers
June 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 537
Abstract: For those who own a farm, this article offers nine tax tips they should know about, addressing crop insurance, employee wages and benefits, net operating losses, farm income averaging, and other topics.
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Tax rules for gamblers
June 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 452
Abstract: This article summarizes the applicable federal income tax rules for gambling winnings. It particularly discusses documentation requirements for winnings and losses for professional gamblers.
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Donating a life insurance policy to charity
June 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 262
Abstract: A number of charities now ask their donors to consider donating life insurance policies rather than (or in addition to) cash in order to make substantially larger gifts than would otherwise be possible. The advantage to donors is that they can make a sizable gift with relatively little up-front cash, and receive a charitable deduction. However, this article notes that, if the donation is handled incorrectly, no deduction is allowed — so it’s advisable to seek professional advice.
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2015 HSA amounts
June 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 295
Abstract: Health Savings Accounts were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small to medium-size companies. This article explains their tax benefits, which are quite favorable, and also points out how they differ from insurance or Flexible Spending Accounts.
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IRA rollovers
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 281
Abstract: An IRA rollover occurs when a taxpayer receives a distribution from one IRA and within 60 days deposits the assets into another IRA. This transfer to the receiving IRA is called a rollover contribution. A one-rollover-per-year rule used to apply on a per-IRA basis. However, starting in 2015, it applies to an individual’s IRAs in the aggregate. This article explains the details and why trustee-to-trustee transfers are preferable.
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Taxation of college financial aid
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: A variety of types of student financial aid are available: for example, scholarships, fellowships, grants, work-study arrangements and student loans. But the economic characteristics of financial aid, rather than how it is titled, will determine its taxability. This article explores tax law as it applies to the various forms of aid.
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Reporting a name change
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 121
Abstract: The names on a tax return must match Social Security Administration records. This article explains what to do in the event of a name change.
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Filing 2014 foreign bank and financial account reports
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 267
Abstract: The Bank Secrecy Act may require those who have a financial interest in or signature authority over a foreign financial account exceeding certain thresholds to report the account yearly to the IRS. This article explains the procedures for doing so.
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Tips on handling a will
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 204
Abstract: This article offers a list of things to consider regarding wills, including consulting an attorney, storing the will in a safe place, and including provisions for alternate dispositions of property.
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Deducting business bad debts
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 477
Abstract: If debt collection is a problem for a business, deducting uncollectible (bad) debts from its tax bill may somewhat lessen the sting of simply writing the debt off its books. This article discusses what constitutes bona fide debt and describes two types of bad debt deductions: business and nonbusiness.
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What landlords should know about rental income and expenses
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 311
Abstract: Accounting for rental income might at first seem like a simple concept, but in practice it may not be so simple. What is the difference between “rental income” and “advance rent”? How does one account for a security deposit, or property or services received in lieu of rent? How is personal use of a vacation home or other rental property treated? This article addresses those questions.
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Tax calendar
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 101
Abstract: This article mentions a couple of important tax deadlines for April and June.
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Special rules for inherited IRAs
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 190
Abstract: Normally, retirement plan distributions made to a nonspouse beneficiary after the account owner’s death are taxable at the time they are received and cannot be rolled over to the beneficiary’s own IRA. However, employer-sponsored retirement plans are required to offer nonspouse beneficiaries the option to roll over inherited amounts tax-free in a direct rollover to an inherited IRA. This article lists the special rules that apply to an inherited IRA.