TBA
Showing 545–560 of 660 results
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Tax calendar
April 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 101
Abstract: This article notes two upcoming deadlines for filing quarterly estimated tax payments and other tax forms and/or savings plan contributions.
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Double benefit from a tax deduction
April 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 455
Abstract: For most taxpayers, the amount of federal income tax they pay depends on where they fall in the federal income tax brackets and the breakdown of their taxable income between ordinary (e.g., wages) and capital gains from the sale of assets (e.g., common stock). As federal taxable income decreases, the rate of tax on at least a portion of that income also decreases. In addition, if a taxpayer has a long-term capital gain that, after considering ordinary income, is partially taxed at the 0% rate, any additional deduction that decreases ordinary income will simultaneously decrease the tax rate on a comparable amount of long-term capital gain to 0%. This has the effect of producing a double benefit for that deduction. This article offers an example.
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Tax implications of investor or trader status
April 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: Most taxpayers who trade stocks are classified as investors for tax purposes. This means any net gains are going to be treated as capital gains vs. ordinary income. Taxwise, that’s good — up to a point. But traders have it better. However, trading must be “substantial” to successfully meet the test for trader status. This article explains how that’s defined.
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When is a marriage terminated for tax purposes?
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 401
Abstract: This article explains the situations in which a marriage is considered terminated for tax purposes. In some divorce situations, where the “abandoned spouse” rule does not apply, a spouse may be reluctant to file a joint return due to the joint and several tax liability resulting from joint returns. In some instances, completing the divorce and terminating the marriage may in fact save income taxes.
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Taxpayer Advocate reports to Congress
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: National Taxpayer Advocate Nina E. Olson recently released her annual report to Congress, urging the Internal Revenue Service to adopt a comprehensive Taxpayer Bill of Rights (TBOR) — a step she said would increase trust in the agency and, more generally, strengthen its ability to serve taxpayers and collect tax. This article looks at why she feels the IRS is not performing up to its potential level of effectiveness.
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Passive activity loss limitations
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 506
Abstract: The passive activity loss (PAL) rules were introduced by the Tax Reform Act of 1986 and were designed to curb perceived tax shelter abuses. However, the PAL rules are far-reaching and affect activities other than tax shelters. Additionally, these rules limit the deductibility of losses for federal income tax purposes. This article explains what constitutes a passive activity and particularly how the rules affect rental activities.
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Minimum required distribution reminder
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 81
Abstract: This brief article notes that taxpayers who turned 70½ in 2013 need to prepare to take their first minimum required distribution or face a steep penalty.
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Lifetime vs. testamentary contributions
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 463
Abstract: Many taxpayers with charitable intentions struggle with the decision of whether to donate property to charity during their lifetimes or to make a charitable bequest in their wills that will be fulfilled from property included in their estates (testamentary bequests). While taxpayers frequently base their choice between lifetime charitable gifts and testamentary bequests on nontax considerations, this article discusses the tax implications of their decision.
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Filing status for separated, divorced or divorcing couples
March 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 111
Abstract: People who are in the process of divorce might still be married for tax purposes. This brief article notes the five tax filing categories for individuals.
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Taxpayer penalized for wasting court’s time
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 100
Abstract: This brief article describes how a taxpayer who claimed he had no taxable income was not only disputed by the Tax Court, but was assessed fines for wasting its time.
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Social Security update
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 221
Abstract: This article provides the 2014 inflation adjustments that have been announced for the various Social Security amounts and thresholds.
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Retirement plan review
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 331
Abstract: Retirement plan savings (e.g., qualified plans and IRAs) are important to one’s financial well-being for many reasons. They allow one to accumulate income without currently paying tax, and the power of compounding pretax dollars makes a retirement plan one of the most powerful investment vehicles available. Therefore, it is important to do everything possible to get the most out of one of the best investment opportunities available. This article lists information to consider when conducting a review of retirement plans.
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Making your hobby a business
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Taxpayers often invest a great deal of time and money in their hobby, and some eventually make it a full- or part-time business activity. It’s not a problem as long as the new business turns a profit. And it may be fine as well if the business produces a loss and the taxpayer enjoys the activity — even better if the loss can offset other income. However, if the business consistently generates losses, the IRS could determine that these losses are actually nondeductible hobby losses. This article discusses two ways to avoid the hobby loss rules.
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Coverdell Education Savings Accounts
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 189
Abstract: The Coverdell Education Savings Account (ESA) was created as an incentive to help parents and students save for education expenses. This article looks at its benefits and limitations.
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Converting a residence to rental property
February 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 353
Abstract: Recovering real estate values may cause some homeowners to consider converting their personal residence to rental property for investment purposes. But this decision is complex, and its ramifications are far-reaching. This article examines the economic factors that need to be considered.
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Structuring a tax-free incorporation
January 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: When forming a corporate entity, one method of capitalization is through a tax-free (actually, tax-deferred) exchange. Properly transferring property to a corporation delays the recognition of any gain on that property until a taxable event occurs. This article lists four requirements for a tax-free incorporation.