TXI
Tax Impact
Showing 1–16 of 324 results
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Tax Tips – Are you eligible for energy-efficiency tax breaks?
May / June 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: These brief tips explain eligibility requirements for certain energy efficiency tax breaks; detail the benefits of the Work Opportunity Tax Credit; and explore the eligibility of non-itemizer taxpayers who wish to make charitable contributions.
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In your own words – A letter of instruction complements a will
May / June 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: A smart estate plan should leave no doubt as to one’s intentions. Writing a letter of instruction can go a long way toward clearly communicating all of one’s thoughts and wishes. This article explains that the letter, unlike a valid will, isn’t legally binding, but can be valuable to surviving family members.
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Out with the old? Not so fast when it comes to disposing of tax records
May / June 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 648
Abstract: During the COVID-19 pandemic, most people have spent a lot of time at home, inspiring many to clear out some of the clutter in their living spaces. Those who’ve decided to tackle the boxes, bins or drawers full of paper files that have accumulated over the years may be wondering when it’s safe to dispose of tax records. This article offers guidelines as to when it’s safe to shred tax records.
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Don’t overlook tax considerations when selling your business
May / June 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1024
Abstract: When the COVID-19 pandemic first hit, economic uncertainty caused many business owners contemplating a sale — as well as many prospective buyers — to put their plans on hold. Now that there’s some light at the end of the pandemic tunnel, interest in buying and selling businesses seems to be picking up. This article explores various tax considerations when selling a business. A sidebar examines potential state tax implications when selling a business.
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Tax Tips – Using qualified small business stock to attract investors
March / April 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 541
Abstract: These brief tips explain how qualified small business stock can help attract investors; detail proposed IRS regs related to the $10,000 limit on itemized deductions of state and local taxes (SALT); explore how making a “net gift” may reduce gift tax; and explain why hiring your children for your business can save taxes.
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A second marriage requires an estate plan review
March / April 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 525
Abstract: Many people view a second marriage as a fresh start and a new chance at happiness. However, before taking another walk down the aisle, it’s critical to take the time to review and, if necessary, revise one’s estate plan. This article provides answers to three key questions one should consider when getting remarried.
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Tips for avoiding IRS penalties
March / April 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 560
Abstract: Business owners who have been affected by the COVID-19 pandemic may be concerned about the ability to pay taxes on time or to pay a delinquent tax debt. Fortunately, it may be possible to obtain relief from harsh IRS penalties and other consequences of the tax collection process, provided action is taken soon. This article offers tips on how to avoid IRS penalties.
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Businesses provided a lifeline – CAA enhances PPP loans and extends Employee Retention Credit
March / April 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 923
Abstract: The Consolidated Appropriations Act provides much needed stimulus and tax relief for businesses hard hit by the COVID-19 pandemic. This article examines two of the provisions that business owners likely will be most interested in: the $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP), for both first-time and so called “second-draw” borrowers, and the extension of the Employee Retention Credit.
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Tax Tips – What if you can’t pay your taxes on time?
January / February 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: These brief tips explain a taxpayer’s options if he or she is unable to pay their taxes on time; explore the benefits of making annual exclusion gifts; and detail new IRS guidance regarding business meals and entertainment.
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Easing the pain of the NIIT on your estate plan
January / February 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 600
Abstract: The 3.8% net investment income tax (NIIT) can negatively affect one’s estate plan. This is especially true if assets include an investment portfolio, because the NIIT can increase the tax on capital gains, taxable interest and other investment income, thus reducing the amount of wealth available to loved ones. This article explains ways to ease the tax bite of the NIIT on an estate plan.
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Are you liable for “nanny taxes”?
January / February 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: During the COVID-19 pandemic, day care centers have closed and many schools have switched to a remote learning model. As a result, working parents have had to scramble to make alternative child care arrangements, which may include hiring nannies or babysitters. This article explains the tax obligations of employing household workers.
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Section 139 – How to provide your employees with tax-free COVID-19 relief
January / February 2021
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 839
Abstract: The COVID-19 pandemic has led to a surge in unemployment. And while people who have been furloughed or lost their jobs are among the hardest hit by the pandemic, those who remain employed have also experienced financial hardships. This article explains how Section 139 provides incentives for employers who wish to provide their employees with assistance. A sidebar details what qualifies as a “disaster.”
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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.