Tax & Business Alert
Showing 481–496 of 664 results
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SEPs — One last chance to lower your 2014 tax bill
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 605
Abstract: Simplified Employee Pension (SEP) plans are available to self-employed individuals, partnerships (including multimember LLCs treated as partnerships), and corporate employers alike. Unlike other types of retirement plans, a newly formed SEP is easy to establish and a powerful retroactive tax planning tool. This article discusses how a SEP works and the requirements involved in forming one.
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Contemporaneous recordkeeping key to avoiding loss limitations
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: Taxpayers who run up tax losses in a business must be prepared to prove that one of the material participation tests was passed to avoid having the losses characterized as a passive activity loss (PAL) that cannot be currently deducted. In general, an individual taxpayer can meet the material participation standard by passing one of seven tests outlined in the regulations and described in this article.
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Avoid gift treatment by paying expenses directly
April 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 248
Abstract: It may seem easy to give money to relatives for educational or medical purposes, but doing so can result in a tax hit. This article explains why it’s important to make any payment directly to the organization or service provider.
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Tax Increase Prevention Act of 2014 (TIPA)
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 605
Abstract: The Tax Increase Prevention Act of 2014 (TIPA) was signed into law on December 19, 2014. It retroactively extends most of the federal income tax breaks that would have affected many individuals and businesses through 2014. This article discusses some of the extended provisions impacting individual taxpayers, such as the qualified tuition deduction, the mortgage insurance premium deduction, and more.
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Tax breaks for businesses extended through 2014
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 618
Abstract: This article describes a variety of business tax breaks that were extended through 2014. They include extended cost recovery provisions, along with certain business credits, a deduction for energy-efficient commercial buildings, and more.
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National Taxpayer Advocate delivers annual report to Congress
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 174
Abstract: This article discusses National Taxpayer Advocate Nina E. Olson’s concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001. She offers several corrective measures.
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4 good reasons to direct deposit your refund
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 180
Abstract: Using direct deposit for a tax refund offers convenience and security, among other advantages. This article explains why.
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ABLE accounts for disabled individuals
March 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: The Achieving a Better Life Experience Act (ABLE) of 2014 establishes a new type of tax-advantaged account for disabled individuals, allowing them to save money for future needs while remaining eligible for government benefit programs. This article discusses details of the act, including who is eligible and contribution limits.
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What to do if you don’t get a Form W-2
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 291
Abstract: An employee who worked during 2014 should receive from his or her employer a Form W-2, “Wage and Tax Statement,” by February 2, 2015. This form shows the amount of wages received for the year and the taxes withheld from those wages, and it must be filed with the employee’s return. This article explains what to do if the employee hasn’t received Form W-2 by mid-February.
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The importance of accountable expense reimbursement plans
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 377
Abstract: Most companies cover their employees’ business expenses by reimbursing them for their actual expenses or by paying a travel or mileage allowance. Such arrangements are subject to strict tax rules concerning what qualifies as a legitimate reimbursement arrangement and what is treated (at least for tax purposes) as additional compensation to the employee. It depends on whether the employer’s payments are made in accordance with what the IRS calls an accountable plan. This article explains the rules and whether it may or may not be advisable to use such a plan.
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Standard mileage rates for 2015
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 235
Abstract: This article notes that, rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. Likewise, standard mileage rates are available for computing the deduction when a vehicle is used for charitable, medical or moving purposes.
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Helping an adult child buy a home
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: Economic and tax considerations make right now a good time for parents (and grandparents) who are willing and able to help their adult children buy a home. This article looks particularly at the 0% capital gains rate and low federal interest rates as factors that might influence the decision.
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Employer reimbursements of individual health insurance policies
February 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: For plan years beginning after 2013, the Affordable Care Act institutes so-called market reform provisions that place a whole host of new restrictions on group health plans. With a limited exception, these provisions significantly restrict an employer’s ability to reimburse employees for premiums paid on individual health insurance policies, referred to as employer payment arrangements. This article explains the new restrictions on these arrangements and what employers who still have them should do. It also looks at acceptable alternatives.
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Social Security and Medicare amounts for 2015
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 300
Abstract: The annual inflation adjustments have also impacted the various Social Security amounts and thresholds for 2015. This article lists them, and also notes the Medicare surtax.
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Deducting local lodging expenses
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 345
Abstract: Generally, lodging expenses are not deductible unless the taxpayer is traveling away from home on business. However, thanks to recently finalized IRS regulations, local lodging expenses may be a deductible business expense if certain conditions are met. This article lists those conditions and provides an example.
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IRS grants tax relief to drought-stricken farmers and ranchers
January 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 314
Abstract: The IRS has extended the time to replace livestock that farmers were forced to sell due to recent drought. This may help some farmers defer tax on any gains they received from the forced sales. This article lists eligibility requirements.