Tax & Business Alert
Showing 513–528 of 664 results
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Swapping bonds to claim losses
October 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 239
Abstract: Taxpayers holding bonds that have decreased in value may benefit from a bond swap, which enables a taxpayer to currently benefit from the decline in a bond’s value and either increase or keep the same cash flow generated by the bond. To facilitate a bond swap, the taxpayer sells currently owned bonds at a loss and immediately reinvests the proceeds in different bonds. But this article notes that it’s important to steer clear of the wash sale rule.
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Simple tax savings techniques for security gains
October 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 547
Abstract: The market swings over the last several years may cause some investors to wonder if it’s time to capitalize on some market gains. This article offers a couple of tax-smart strategies to consider when analyzing investment opportunities and deciding what to do about recent gains. It addresses the issue of whether or not to wait to sell until the stock qualifies for long-term capital gains treatment, and whether to use the FIFO or the “specific ID” method to minimize taxes.
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Tax calendar
October 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 218
Abstract: This article lists a number of key tax reporting deadlines for the final quarter of 2014.
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Travel while giving to charity
October 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 327
Abstract: While it’s not possible to deduct the value of services donated to charity, it may be possible to deduct some of the out-of-pocket travel costs incurred. This article describes expenses that are deductible and those that aren’t.
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Converting a sole proprietorship to a limited liability company
October 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 442
Abstract: As sole proprietors, business owners enjoy the advantage of simplified income tax reporting, but sole proprietorship status can expose a business owner’s personal assets to the risks and liabilities of their business operation. To provide a broader protection from liability, state statutes generally allow a sole proprietor to conduct business as a limited liability company (LLC). This article explores the benefits of an LLC, but notes that a sole proprietor will need to weigh these against the initial legal and administrative costs of accomplishing the conversion.
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Weddings mean tax changes
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: There are important tax issues created by a marriage that warrant some prompt attention following the wedding. This article notes, in particular, changes in name, address, tax withholding, filing status and other circumstances.
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Small business resources
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 474
Abstract: This article offers small business owners a list of organizations that may have tools, information, and other resources to help their business grow.
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Paying partnership expenses
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 146
Abstract: This article describes when a partner may be able to deduct certain partnership expenses as trade or business expenses on his or her personal return.
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Unneeded life insurance policies could be a significant source of cash
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 272
Abstract: Circumstances change and sometimes people find that they no longer need, or perhaps can no longer afford, life insurance policies that were taken out several years ago. This article explains why selling a policy can sometimes net the policyholder a sufficient sum that’s far in excess of a whole life policy’s cash surrender value or a term policy’s unearned premium.
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Deducting medically necessary home improvements
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 202
Abstract: Certain home improvements made to accommodate a disabled condition do not usually increase the value of the home, and the cost can be included in full as deductible medical expenses. This article lists a number of such improvements.
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Identifying charities eligible to receive tax deductible contributions
September 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 571
Abstract: Those who are counting on a federal income tax deduction for donating to a charity should confirm that the charity has been approved by the IRS as a tax-exempt organization eligible to receive deductible contributions. This article offers step-by-step instructions for doing so via the IRS’s “Exempt Organizations Select Check” tool.
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What you need to know about required health insurance coverage for 2014
August 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 306
Abstract: Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act (ACA) requires Americans to have qualifying health insurance (called minimum essential coverage), have an exemption, or pay a shared responsibility penalty with their 2014 individual income tax return, Form 1040. This article defines “minimum essential coverage” and discusses exemptions and penalties.
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Social Security statements available online
August 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 81
Abstract: This article explains how to create an account on the Social Security website in order to see a statement that estimates one’s benefits and provides other useful information.
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Keep your records safe in case disaster strikes
August 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 234
Abstract: Major events like hurricanes, tornadoes and fires can strike at any time. But a person can help make recovery easier by keeping their tax and financial records safe. This article looks at three basic steps the IRS suggests to prepare for a disaster.
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Dividing IRAs tax-free in divorce
August 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 496
Abstract: Generally, transfers of property, including cash, between divorcing spouses are considered tax-free gifts between the spouses. However, this rule does not apply to transfers of balances in IRAs. If an IRA owner withdraws funds from his or her IRA and gives it to his or her spouse, the withdrawal is taxable to the IRA owner and tax-free to the receiving spouse. Fortunately, there is an important exception to this rule — transferring an individual’s interest in an IRA to a spouse or former spouse pursuant to a divorce decree or separate maintenance agreement is not taxable to either spouse. This article offers an example of how it works.
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Corporate annual meetings are important
August 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Although most people view the requirement of an annual Board of Directors meeting as a necessary evil, it doesn’t have to be a waste of time. For example, in addition to being a first step in making sure the corporation is respected as a separate legal entity, an annual meeting can be used as an important tool to support a company’s tax positions. As this article explains, a well-drafted set of minutes outlining the officers’ responsibilities, skills, and experience levels can significantly reduce the risk of an IRS challenge, while providing documentation to support loans and other actions the Board may have taken.