Tax Impact
Showing 337–352 of 384 results
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Tax Tips – self-directed IRA withdrawals – qualified personal residence trusts – early refunds for corporations
November / December 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 448
Abstract: In this article, we briefly explore self-directed IRA withdrawals, qualified personal residence trusts and early refunds for corporations.
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The pros and cons of 401(k) loans
November / December 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 552
Abstract: In today’s tough economy, many people are struggling to meet their day-to-day expenses. At the same time, the credit crunch has made it harder to obtain traditional loans. This article looks at one enticing alternative, which is to borrow against your 401(k) account, if your plan permits it. This can be a risky strategy, though, so it’s generally best considered only as a last resort
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Address ownership transfer issues with a buy-sell agreement
November / December 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 747
Abstract: There are a number of reasons why owners of closely held businesses put off discussing how ownership interests will be transferred when an owner exits the firm. For one, owners may be concerned about conflicts that could arise if an owner wants to transfer interests to family members or sell them to outsiders. For another, issues such as how fellow owners (or the business itself) will be able to pay for an exiting owner’s interests or the effect of the agreement on estate taxes can seem overwhelmingly complex. This article explains how a buy-sell agreement, when drafted carefully, can address these issues and more.
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The high cost of worker misclassification
November / December 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 732
Abstract: Independent contractors (ICs) offer businesses several advantages. Unlike with employees, you don’t have to withhold income and payroll taxes; make Social Security, Medicare and unemployment insurance contributions; pay overtime; or provide employee benefits. Treating an employee as an IC has always been risky. But in the last few years, these relationships are being looked at more closely and more often. Revenue-strapped tax authorities are scrutinizing worker relationships and often reclassifying ICs as employees. This article reviews the risks of worker misclassification and offers tips on how to tell the two apart.
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Tax Tips – job search expenses – cost segregation studies – social security numbers
September / October 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 394
Abstract: This article briefly looks at deducting job-search expenses, cost segregation studies and Social Security Numbers.
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Married with children? – A QTIP trust can help you achieve your estate planning goals
September / October 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 690
Abstract: As a spouse and parent, you have the difficult challenge of ensuring your spouse is provided for after your death while making certain there are assets left for your children’s inheritances. Trying to meet both objectives while minimizing estate taxes is no small feat. This article looks at how a qualified terminable interest property (QTIP) trust can help.
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Be reasonable! – Court weighs in on executive compensation
September / October 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: The Internal Revenue Code allows a business to deduct a “reasonable allowance for salaries or other compensation” it pays to executives and other employees. When an executive is also a shareholder of a C corporation, the IRS may challenge compensation it believes is unreasonably high, arguing that the excess is really a disguised dividend. Dividends aren’t deductible, so by characterizing payments as deductible compensation, the company reduces its tax bill. This article reviews a recent case, Menard, Inc. v. Commissioner of Internal Revenue (March 10, 2009), and the potential impact on businesses.
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Year end tax planning in uncertain times
September / October 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 981
Abstract: In today’s uncertain economic times, with potential tax law changes on the horizon, tax planning can be a challenge. Between now and year end, it’s important to monitor your financial situation closely, keep an eye on Congressional developments and work with your tax advisor to devise a tax plan based on your best guess as to what the future holds. With that in mind, this article explores strategies that may work for your financial situation.
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Tax Tips – A boost for small business stock – Tax law changes that improve your cash flow – Checking out the manufacturers’ deduction – Consider generation-skipping trusts
July / August 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 511
Abstract: This article briefly looks at small business stock, strategies to enhance cash flow, the domestic production activities deduction, and generation-skipping and dynasty trusts.
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When are transportation expenses deductible?
July / August 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Most workers and employers know that you generally can’t deduct the cost of commuting between home and work — that’s considered a personal expense. But there are certain situations in which commuting costs are deductible as transportation expenses. This article explains what the IRS considers to be commuting and the tax benefits to employers and employees.
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Why there’s nothing shabby about a Crummey trust
July / August 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1097
Abstract: You probably know about the annual gift tax exclusion. It allows you to give up to $13,000 per year (the limit in 2009) tax free, to an unlimited number of people — and without using up any of your $1 million lifetime gift tax exemption. If you elect to split gifts with your spouse, you can give away up to $26,000 per recipient. What you may not know is that the annual gift tax exclusion is available only for gifts of a present interest. Contributions to a trust ordinarily don’t count, because a beneficiary’s interest in a trust is considered a future interest. But what if you want to take advantage of the annual gift tax exclusion without simply handing over the cash to your children or grandchildren? This article offers one solution: a carefully designed Crummey trust.
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Energy tax incentives – A conservation plan for your tax bill
July / August 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1088
Abstract: Over the last few years, Congress has created a variety of tax incentives for individuals and businesses that invest in energy-efficient appliances, cars, equipment and buildings. This year’s stimulus bill — the American Recovery and Reinvestment Act of 2009 (ARRA) — expands many of these incentives and makes them even more valuable. But most of the energy tax breaks are temporary. So if you want to take advantage of them, begin planning now. This article explores tax breaks for individuals and businesses, including those related to home improvement and alternative energy. A sidebar warns that not every investment you make in energy-saving products and materials will necessarily qualify for a tax break.
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Tax tips – Grab valuation discounts while they last – Study up on 529 plans – Expanded hiring benefit
May / June 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 471
Abstract: News items briefly discussed are 529 plans, valuation discounts and an expanded benefit for those hiring unemployed veterans and “disconnected” youth.
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3 ways to soften the blow of estate taxes
May / June 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: Reports of the death of the federal estate tax have been greatly exaggerated. True, as of this writing, the estate tax is scheduled for repeal in 2010, but many experts expect Congress to “repeal the repeal” and preserve the tax. Because the estate tax appears to be here to stay, you and your family need to be aware of the tax-reducing strategies that can be implemented during one’s lifetime and even after one’s death. This article explains three postmortem moves an executor can make to reduce an estate’s tax bill.
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How to make the most (or least) of business losses
May / June 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1353
Abstract: There are many strategies for minimizing your company’s tax bill. Not earning enough income to cover your expenses — though effective — isn’t the best approach. But for a new company that hasn’t yet started turning a profit or a mature business being squeezed by a sluggish economy, losses happen. No one likes to lose money, but the tax code softens the blow somewhat by allowing you to use a net operating loss (NOL) to offset income in previous or future years. Carrying back an NOL can be particularly beneficial because it can provide you with an immediate tax refund at a time when you may need an infusion of cash. This article reviews tactics for when to claim an NOL and carry it forward or back.
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Looking for the silver lining – Tax planning in a troubled economy
May / June 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1095
Abstract: Times are tough all over. Real estate prices are depressed, credit is tight and the ups and downs of the stock market are enough to induce motion sickness. Fortunately, the cloud hanging over the economy has a silver lining: It’s an ideal time for tax and estate planning. This article looks at several strategies you can use to slash your income tax bill and minimize gift and estate taxes.