TXI
Showing 305–320 of 384 results
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Work-related education – When can you deduct your expenses?
May / June 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 898
Abstract: Those heading back to the classroom to improve their marketability may, depending on their income level and other factors, qualify for education tax credits (such as the Hope credit or Lifetime Learning credit) or the tuition and fees deduction. But this article focuses on deducting the cost of education as a business expense. It explains what is and is not deductible, and one instance in which an unemployed person might be able to deduct expenses. A sidebar addresses the issue of whether the cost of obtaining an MBA is deductible.
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Tax Tips – IRS rethinks position on uncertain tax positions – Maintenance vs. capital improvement: Are you overpaying taxes? – Don’t overlook reinvested dividends
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: In this issue’s “Tax Tips,” we discuss revised IRS rules that require some companies to report uncertain tax positions (UTPs) on their tax returns using Schedule UTP; why it’s necessary to distinguish between maintenance and capital improvement expenses to save taxes; and the importance of tracking reinvested dividends to avoid paying tax on them twice.
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Don’t let your good deeds go unrewarded
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 669
Abstract: U.S. tax law is generous in providing tax deductions for charitable gifts — but the donor must be able to substantiate each dollar or asset given in order to receive a deduction. This article discusses the documentation requirements for different amounts of cash and noncash contributions and when it’s necessary to obtain an appraisal.
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Filing for bankruptcy may keep the tax collector at bay
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 746
Abstract: There’s a common misconception that bankruptcy can never be used to wipe out tax debts. In fact, tax liabilities that meet certain requirements can be discharged in bankruptcy. This article offers a brief introduction to bankruptcy’s impact on taxes. It looks at the different kinds of bankruptcy, what taxes are dischargeable, and alternatives to bankruptcy.
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Need to purchase BOLI? – Here’s how to avoid being taxed
March / April 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: Life insurance proceeds are generally exempt from income tax, but special rules apply to business-owned life insurance (BOLI). This article describes the benefits of BOLI, along with Internal Revenue Code Section 101(j) restrictions designed to combat perceived abuses. It also describes what companies using BOLI need to do to be sure that new and existing life insurance policies are in compliance. A sidebar discusses employee notification procedures that must be carried out before a BOLI policy is issued.
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Tax Tips – No more paper payroll tax deposits – Defined value gifts limit tax exposure – Check out charities before you donate
January / February 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 404
Abstract: This issue’s “Tax Tips” section addresses the Electronic Federal Tax Payment System (EFTPS), and why businesses using paper coupons to submit federal payroll tax deposits must now switch to it. It also shows how defined value gifts can limit tax exposure, and states the importance of donors being sure that charities are in good standing with the IRS.
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SBJA creates tax-planning opportunities
January / February 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 374
Abstract: On Sept. 27, President Obama signed the Small Business Jobs Act of 2010 (SBJA), which created $30 billion in funding for small business loans. It also provided several tax incentives for businesses — both large and small. In light of these incentives, this article lists three actions to consider in 2011, including getting rid of “built-in gain” property and reviewing business credits.
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The home-office deduction: What you need to know
January / February 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 675
Abstract: According to the IRS, a workspace must meet certain tests to qualify for the home-office deduction. This article lists those tests, shows which expenses are deductible, and explains how to account for the deduction when declaring taxes.
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Congress delivers tax relief in the nick of time
January / February 2011
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1347
Abstract: After weeks of heated debate and controversy, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 on Dec. 17. This article examines how the new act affects businesses and individuals. It discusses such topics as income tax rates, payroll taxes, capital gains and dividends rates, and estate and gift tax changes. A sidebar lists other breaks that have been extended or expanded.
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Tax Tips – Failure to maintain W-9s can cost your business – Deduct estate tax on inherited IRA – Don’t overlook reinvested dividends
November / December 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: This issue’s “Tax Tips” section discusses why failing to maintain W-9 forms can be costly for a business; points out the deductibility of estate taxes that can be attributed to assets from an inherited IRA; and shows why it’s important to track reinvested dividends to avoid paying tax on them twice.
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Is your 529 plan underwater?
November / December 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: A 529 plan continues to be one of the most powerful tools available for financing higher education costs. They offer generous contribution limits, creditor protection, minimal impact on financial aid eligibility and various gift and estate tax advantages. Like most investment vehicles, however, these plans aren’t immune to market risk, and many have experienced significant losses over the last couple of years. This article describes an often-overlooked strategy to consider if a 529 plan is “underwater” — that is, its current value is less than the amount contributed to it.
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A defective (but strong) trust – Transfer wealth with the power of an IDGT
November / December 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 635
Abstract: Despite its name, the intentionally defective grantor trust (IDGT) can be a highly effective way of removing assets from one’s estate while minimizing estate taxes. This article explains the “defect” that allows trust assets to grow without being reduced by income taxes, and that allows further depletion of an estate and reduces the associated estate tax. But the IDGT is a complicated vehicle that must be carefully structured with the help of well-qualified advisors, or it may not pass IRS scrutiny.
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Available now – Your business may qualify for a health care tax credit
November / December 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1099
Abstract: Many of the changes inherent in the Patient Protection and Affordable Care Act (PPACA) don’t take effect for several years. But one significant tax break is available now: a tax credit designed to encourage small businesses to offer or maintain affordable health insurance for their employees. This article explains the details of this credit, and how to determine whether a particular business qualifies. A sidebar offers an example of the calculations for one fictitious company.
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Tax Tips – Avoiding estimated tax penalties – How to accelerate home office deductions – Wash sale isn’t always a dirty word
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 462
Abstract: This issue’s “Tax Tips” briefly discusses a way to avoid estimated tax penalties; how to accelerate home office deductions through a cost segregation study; and how to avoid the wash sale rule, which prohibits investors from deducting a loss on the sale of a security if they acquire substantially the same security within 30 days before or after the sale.
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Don’t break the rule – The transfer-for-value rule can trigger income tax liability
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 578
Abstract: If a person wants to keep a life insurance policy they already own out of their taxable estate or to achieve other planning goals, it may make sense to transfer the policy for “valuable consideration.” But income tax traps exist. So before making such a transfer, it pays to become familiar with the transfer-for-value rule. This article looks at what the rule entails, and how easily it can be to fall prey to it.
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What have you got to lose? – Year end tax planning for investment and retirement accounts
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 696
Abstract: As year end approaches, it’s smart for investors to review their situation and consider strategies that can minimize capital gains tax and use capital losses to their tax advantage. This article looks at the taxation of short- vs. long-term gains, the impact of the wash sale rule on sales of investments, and the tax treatment of retirement savings.