TXI

Showing 289–304 of 312 results

  • Tax Tips

    November / December 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 458

    Abstract: News items briefly discussed are mutual funds and charitable giving.

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  • Selling your home at a loss can mean higher taxes

    November / December 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 510

    Abstract: When you sell your home at a profit, the tax code is quite generous. You can exclude up to $250,000 ($500,000 for married couples) in capital gain on the sale of a principal residence. If you sell your home at a loss, however, the code is downright stingy: The loss isn’t deductible and, in a harsh twist of irony, you may end up owing taxes. This article looks at the tax rules in this area and the circumstances when homeowners may receive debt relief.

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  • The IDGT: A useful tool for transferring your business to your heirs

    November / December 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1081

    Abstract: It’s a common dilemma for many business owners: The bulk of your wealth is tied up in your company and you’d like to begin transferring it to your children. But you have several concerns, including reducing the tax bite, retaining control and ensuring you have enough for a comfortable retirement. This article explains how an intentionally defective grantor trust can minimize or even eliminate gift and estate taxes while helping family business owners retain control of their companies and maintain an income stream.

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  • Give your company — and yourself — the gift of tax savings – 3 tips to implement before year end

    November / December 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 902

    Abstract: It’s important to take time to address your business’s tax situation at any time of the year. But it’s especially critical as year end approaches. You can minimize the amount you give to the IRS, leaving you with more to invest in your business or save. Don’t delay, because many tax-saving techniques have to be implemented before year end. This article reviews three strategies: timing income and deductions, deferring tax on advance payments and increasing basis.

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  • Tax Tips

    September / October 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 509

    Abstract: This article briefly reviews tenancy-in-common interest, year end tax tips for the self-employed, and how the IRS classifies hobbies and second businesses.

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  • Is tax-free investing really tax-free?

    September / October 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 592

    Abstract: Investing in tax-exempt securities such as municipal bonds can be a great strategy, especially if you’re in a high tax bracket. But this strategy can backfire if you’re not careful. Sometimes “tax-free” isn’t as free as it seems. This article explains how to evaluate the tax-effectiveness of municipal bonds and tax traps to watch out for.

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  • Don’t “wage” war with the IRS – Review S corporation compensation to help ensure it will pass muster

    September / October 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 601

    Abstract: The payment of reasonable compensation to S corporation shareholders is high on the IRS’s list of audit concerns. That’s because S corporations that make distributions of profits in lieu of salaries to employee shareholders enjoy significant savings on employment taxes. In recent years, auditors have been scrutinizing S corporation salaries and recharacterizing distributions of profits as wages when they feel that shareholder compensation is unreasonably low. The result: Affected businesses receive an unpleasant surprise in the form of a bill for unpaid employment taxes, plus penalties and interest. This article offers advice on how to determine reasonable compensation.

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  • A great time for a GRAT – How to transfer more to your heirs at a lower tax cost

    September / October 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1210

    Abstract: If you’ve graduated beyond making annual exclusion gifts and are looking to do more, perhaps a grantor retained annuity trust (GRAT) would fit your needs. Although it’s a relatively sophisticated strategy, when carefully planned and executed, the GRAT could allow you to transfer substantial amounts of wealth to your children or other heirs while minimizing — or even eliminating — gift and estate taxes. And, by establishing a long-term GRAT while interest rates are low, you can enhance the GRAT’s tax-saving potential. This article explains how a GRAT works and its tax-saving advantages.

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  • Tax Tips

    July / August 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 519

    Abstract: News items briefly discussed are some little-realized expenses that qualify for the medical expense deduction, making tax-free gifts using the annual gift tax exclusion, and using estimated tax payments to boost a company’s cash flow.

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  • Deferring capital gains taxes with a like-kind exchange

    July / August 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1075

    Abstract: Taxes can be an obstacle even in a sluggish real estate market. If you’ve held property for a long time, it may be worth substantially more than you paid for it, even if its value has declined in recent years. Also, years of depreciation deductions may have reduced or eliminated your tax basis in the property. So if you’re planning to sell property and capital gains will be triggered, find out if a like-kind exchange is an option for you. Also known as a Section 1031 exchange after the relevant section of the Internal Revenue Code, a like-kind exchange may be able to help you defer — or even permanently avoid — capital gains taxes. This article explains how like-kind exchanges work and how taxpayers may save.

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  • Watch your step – 3 life insurance slip-ups to avoid

    July / August 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 755

    Abstract: Life insurance is a versatile financial planning tool. It provides a source of wealth to fund a variety of estate and business succession-planning strategies. And policies with an investment component offer tax-deferred growth, which you can use to supplement your other retirement savings. What’s more, under the right circumstances, a policy’s death benefits will be exempt from income and estate taxes. Careful planning is required to ensure that life insurance proceeds remain tax free. One misstep can trigger estate taxes, income taxes or both, drastically reducing the amount available for your loved ones. This article examines three slip-ups to avoid.

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  • Economic Stimulus Act of 2008 – Take advantage of business incentives before it’s too late

    July / August 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 940

    Abstract: The $152 billion Economic Stimulus Act of 2008 has received a lot of attention for its “recovery rebates” and other personal tax incentives. But as part of its effort to jump-start the economy, the act also provides valuable incentives for businesses to boost their capital spending. Among other things, the act nearly doubles the limit on Internal Revenue Code Section 179 expensing and offers a 50% first-year depreciation bonus for certain business property and qualified leasehold improvements. This article reviews these incentives and reminds businesses that they are temporary, so eligible companies need to act quickly.

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  • Tax Tips

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 533

    Abstract: News items briefly discussed are depreciation, estate planning for noncitizens, disability insurance and charitable gift deduction requirements.

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  • Private foundations – Retain control over your donated funds — for a price

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: It used to be that the cost of setting up and operating a private foundation was justified only if you planned to contribute several million dollars. But that cost has dropped dramatically over the years, so this strategy may be worth a look for donors making initial contributions as low as $250,000. Of course, whether a private foundation is right for you depends on your circumstances. This article explores reasons to set up a private foundation and potential pitfalls.

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  • Are your compensation arrangements in compliance?

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 858

    Abstract: Late last year, the IRS gave businesses a reprieve until Jan. 1, 2009, to bring nonqualified deferred compensation arrangements and documents into compliance. The extension is welcome news for many companies that were wrestling with complex final regulations under Internal Revenue Code Section 409A. But that doesn’t mean you don’t have to comply with the regulations yet, because “good-faith” compliance with Sec. 409A itself and IRS guidelines has been required since 2005. Of course, the best way to demonstrate good faith is to continue your compliance efforts. This article looks at Sec. 409A requirements, including how they affect stock options.

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  • Vacation homes provide tax planning opportunities, pitfalls

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: If you own a vacation home, it pays to consider the tax implications, especially if you plan to use the home for both personal enjoyment and rental income. In some cases, minor adjustments in the way you use the home can reduce your tax bill. This article reviews the differences between residence and rental classification of a vacation home, and the tax implications.

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