TXI
Tax Impact
Showing 1–16 of 312 results
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Tax Tips – Congress does a 180 on the kiddie tax
November / December 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 452
Abstract: These brief tips detail the changes the SECURE Act made to the kiddie tax; explore the double taxation pitfall that can occur when working remotely across state lines; and explain how to report sick and family leave under the Families First Coronavirus Response Act.
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Perfect timing – Why now is as good a time as any to create a dynasty trust
November / December 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: A dynasty trust can preserve substantial amounts of wealth — and shelter it from federal gift, estate and generation-skipping transfer (GST) taxes — for generations to come. Leveraging the GST tax exemption is a key to the success of a dynasty trust. The good news is that this trust type is now more appealing than ever thanks to the current record-high GST tax exemption. However, that amount is due to drop to $5 million, subject to an adjustment for inflation, at the end of 2025, so that’s an important fact to keep in mind. This article explores the ins and outs of a dynasty trust.
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Does working from home entitle you to a tax break?
November / December 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 603
Abstract: This year, as a result of the COVID-19 pandemic, more people worked at home than ever before. As 2020 draws to a close, many employees may be wondering whether any of the expenses they incurred to work at home qualify for tax breaks. The short answer is “no,” remote employees can’t deduct the cost of working at home. This article explains why it may be possible to achieve a similar result if an employer pays or reimburses employees for these expenses.
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Landlords and COVID-19: What are the tax implications?
November / December 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 872
Abstract: The COVID-19 pandemic has had a significant impact on landlords. Many tenants have struggled to meet their financial obligations, often resulting in late or unpaid rent or negotiated lease modifications. This article explains the tax implications of landlords’ leasing activities. A sidebar details the effects of lease modifications on Internal Revenue Code Section 467.
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Tax Tips
September / October 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 411
Abstract: These brief tips explain the CARES Act provision that provides refund opportunities for excess business losses; details IRS guidance that provides more time to invest in Qualified Opportunity Funds; and explores the benefits of being able to sign off on retirement plan elections remotely.
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The spousal lifetime access trust – Uncertain economic times call for flexibility
September / October 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 656
Abstract: One of the many lessons resulting from the COVID-19 pandemic and resulting economic downturn is that it’s imperative to build flexibility into your estate plan. Indeed, many people had been taking advantage of the current, record-high gift and estate tax exemption by gifting assets tax-free to family members. But then circumstances drastically changed earlier this year, and many are now much more reluctant to give away substantial amounts of wealth, for fear that they may need access to it down the road. This article explains why a spousal lifetime access trust may work to one’s advantage.
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Year-end tax planning for investors
September / October 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: For investors, 2020 has been marked by volatility and uncertainty. As year end approaches, it’s a good idea for investors to review their portfolios and consider strategies for reducing their tax bills, improving cash flow and positioning themselves for future growth. This article examines a few tax planning moves worth exploring.
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Is your cafeteria plan in compliance? Common mistakes can be a recipe for disaster
September / October 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 828
Abstract: Cafeteria plans can be an attractive and cost-effective tool for offering benefits to employees, providing substantial tax savings for employer and employees alike. But all too often, businesses fail to fully appreciate the requirements that must be met to achieve these savings. One misstep could turn years of pretax salary reductions into taxable compensation, with potentially disastrous results. This article details how cafeteria plans work and lists pitfalls to avoid. A sidebar explains IRS guidance that eases cafeteria plan rules because of the COVID-19 pandemic.
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Tax Tips
July / August 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 330
Abstract: These brief tips explain why now is an ideal time to give to charity; detail the tax breaks the CARES Act provides for employer student loan repayments; and answers the question of whether employers should reimburse their employees’ remote work expenses.
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A silver lining – Current conditions are favorable for cost-effective wealth transfers
July / August 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 511
Abstract: The ongoing novel coronavirus (COVID-19) pandemic has taken a terrible toll on the economy. But the current low-interest-rate environment coupled with depressed asset values means that now may be a good time to transfer wealth to a person’s children and grandchildren. This article details the benefits of making gifts during the current economic conditions.
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How does the CARES Act affect your retirement accounts?
July / August 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: As individuals continue to deal with the impact of the novel coronavirus (COVID-19) pandemic, the Coronavirus Aid, Relief and Economic Security (CARES) Act contains some retirement-related provisions to help ease the financial pain. This article details three of the main retirement-related provisions.
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The CARES Act offers tax relief for businesses
July / August 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1031
Abstract: When it was signed into law in late March, the Coronavirus Aid, Relief and Economic Security (CARES) Act was the largest stimulus package in U.S. history. The law contains numerous provisions designed to help mitigate the economic impact of the novel coronavirus (COVID-19) pandemic, including welcome tax relief for businesses that is potentially relevant for all of 2020 and, in some cases, for past or future years, too. This article reviews the CARES Act’s provisions on net operating losses, business interest deductions and qualified investment property. A brief sidebar highlights payroll tax deferral and employee retention credit under the CARES Act.
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Tax Tips
May / June 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 417
Abstract: These brief tips explain the benefits of the temporary gift tax break; detail the reasons to commission a cost segregation study; and show how to identify audit red flags.
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An estate plan benefits you and your family
May / June 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 558
Abstract: Quick question: Who needs an estate plan? The answer isn’t only the affluent; it’s everyone. While gift and estate tax liability isn’t an issue for most folks, most families can benefit from a comprehensive plan that divides their wealth, protects their well-being and provides a compass for the future. This article explores how a comprehensive estate plan can benefit your family.
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Is your business a tax shelter?
May / June 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 561
Abstract: Most people, when they hear the term “tax shelter,” imagine a tax-avoidance scheme of questionable legality. But while some tax shelters operate in legal grey areas, more often than not they involve legitimate tax-saving strategies. This article explains that, surprisingly, many ordinary businesses meet the broad definition of a tax shelter, a classification that can have negative tax consequences.
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The SECURE Act – Understand the retirement and estate planning implications
May / June 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 943
Abstract: For those who have significant savings set aside in an IRA, 401(k) plan or similar account, the Setting Every Community Up for Retirement Enhancement (SECURE) Act likely alters their retirement and estate planning strategies. This article details the highlights of the SECURE Act. A sidebar explains how the SECURE Act affects employers.