FOC
Showing 17–32 of 393 results
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To amend a return or not to amend? That may be the question for filers
April / May 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 502
Abstract: The question of whether to have an amended return filed for 2022 has to be decided individually on its own merits. This article points out that there’s a general consensus that an individual should file an amended return immediately if he or she owes more tax as a result of an omission or misstatement. It notes that this can be a tougher call if the tax was overpaid by a small amount.
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Use crowdfunding to jump-start your business
April / May 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 668
Abstract: For a business that could use additional funding — perhaps to launch itself or to introduce a new product — “crowdfunding” might be a solution. This article explains that crowdfunding refers to raising money using online platforms. It lists the various types of crowdfunding available, such as rewards-based and equity-based, and notes some laws and regulations relevant to the crowdfunding model.
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A fair shake – How to implement a pay raise program that pays off
April / May 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: At a time when many businesses are competing for what appears to be a shortage of excellent employees, payment is one of the most important issues. This article explains that a business needs to have a pay scale in place commensurate with other businesses in the same industry. The article suggests some factors to consider as business owners evaluate their pay raise systems to ensure that they meet business goals and those of employees going forward.
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6 ways to beat the tax clock
April / May 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 957
Abstract: Tax Day 2023 — the deadline for filing individual 2022 tax returns — is right around the corner. But as this article points out, there’s still time left for individuals to lower their 2022 tax bills if they act fast. The article offers six last-minute strategies to consider, including catching up on IRA contributions and carrying over capital losses. It notes that individuals need to think both short- and long-term to gain the most from these strategies. A sidebar discusses the benefits for small business owners of putting money in a Simplified Employee Pension (SEP) for retirement purposes.
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New law upgrades home energy credits
February / March 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: The new Inflation Reduction Act (IRA), signed in August of 2022, rewards homeowners for going green. This article explains that taxpayers now may qualify for either or both of two enhanced tax credits: the “residential clean energy credit” (previously the energy-efficient property credit) and the “energy-efficient home improvement credit” (previously the “nonbusiness energy property credit”). The article offers a brief overview of both credits.
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How to choose a trustee for your estate
February / March 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: One of the most significant aspects of an estate plan isn’t to whom the assets will be distributed but who will oversee their distribution. This article points out that the trustee an individual chooses will play a significant role in managing all of the financial aspects of the estate after death, so it’s wise to consider this decision carefully. The article explains some of the factors to consider in that decision, such as whether the trustee should be an individual or a professional and whether fees will be incurred.
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Navigating inflation – Chart a course for success
February / March 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 687
Abstract: With prices jumping more than 8% over the past year or so, it’s not surprising that roughly 85% of small business owners recently said they’re concerned about the impact of inflation. This article suggests some steps business owners can take to help their businesses survive — and possibly even thrive — during these volatile economic times, including reviewing inflation’s impact by product line and investing in technology to improve efficiency.
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What method should you use to deduct business vehicle expenses?
February / March 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: Businesspeople who use their passenger cars, vans or pickup trucks for business driving can generally deduct expenses attributable to the use of those vehicles, just like one that’s owned by the business. But it’s important to note that they can deduct only the portion of their overall expenses that’s attributable to their business use. This article points out that there are two ways to arrive at a deduction for the current year — the actual expense method or the standard mileage rate. A sidebar presents an example of how the deduction might work.
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Fast write-offs for start-up costs
Year End 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: It can be expensive to launch a business today, but new business owners may be able to deduct some start-up costs in the first year of operation. The trick is to get the business up and running before the end of the year. This article discusses a special tax law break that may be helpful to start-up businesses if they qualify.
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How should you manage overtime?
Year End 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: Payroll is one of the largest expenses for many businesses. So, while employers need to comply with the regulations that govern salaries and wages, they also need to work within their budgets. This article points out that effectively managing overtime is key to reaching these goals, and offers some useful strategies, including cross-training workers and leveraging technology to automate some tasks.
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How to make a family vacation home work for you
Year End 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 574
Abstract: Individuals considering buying a vacation home need to choose an ownership structure, whether it’s a corporation, a trust, tenants in common (TIC) or a limited liability company (LLC), that will best serve them going forward. This article suggests that though each structure has its pros and cons, an LLC might offer the most benefits. It lists a number of those benefits, such as that an LLC structure will limit family members’ exposure to personal liability lawsuits associated with the property and allow avoidance of probate at the owner’s death.
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Timing is everything – Avoid the wash sale rule to keep taxes in check
Year End 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 944
Abstract: As the end of the year approaches, individuals may be in a position to recognize capital losses from sales of securities to offset gains or even some high-taxed ordinary income. However, as this article points out, there’s an obstacle standing in the way of some investors: the wash sale rule. If investors aren’t careful, this rule can result in losses being disallowed. The article offers several strategies that can help, with the caveat that any strategies should reflect an investor’s investment goals, risk tolerance and more. A sidebar offers an example of how the wash sale rule works.
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Is it a repair or an improvement? How to nail down current deductions
October / November 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 416
Abstract: For business owners, determining whether they’re making repairs or improvements can be tricky — but it’s important for owners to be aware that the distinction can have real tax consequences. This article discusses IRS regulations that provide further clarity and guidance on these distinctions. It also offers a brief summary of the tax implications of each.
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The financial ins and outs of remodeling your home
October / November 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: Whether homeowners are hoping to boost the value of their home to sell it at top dollar or are seeking to improve their living space because they’re spending more time in it, home renovation projects are happening at a fast pace. But not all home improvements are equal when it comes to generating good returns on investment. This article explains that homeowners considering several possible projects should have a sense of which ones are more likely to recoup the money spent and increase resale value.
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Consider PO financing to help your business grow
October / November 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: An increase in purchase orders is a positive development for most businesses — proof that customers are interested in, and buying, their products. At the same time, rising sales can prompt a cash crunch. This article notes that some companies, especially smaller, growing firms, may lack enough cash to pay their suppliers and fill new orders — often because they’re waiting to be paid for previous sales. It suggests that this is where purchase order financing, often referred to as “PO financing,” can help.
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Skipping the generation-skipping transfer tax
October / November 2022
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 858
Abstract: Under the generation-skipping transfer (GST) tax, an additional tax (on top of estate tax) may be imposed on gifts and bequests that skip a generation. So, it’s not possible for individuals to automatically avoid adverse tax consequences simply by bypassing their children. This article suggests, however, that with proper planning, individuals may be able to sidestep the GST tax — or at least minimize it. A sidebar offers three strategies to minimize GST tax.