TXI

Showing 305–320 of 320 results

  • 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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  • Tax Tips

    March / April 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 629

    Abstract: News items briefly discussed are Health Savings Accounts, trading life insurance for cash, contractor vs. employee relationships, and the importance of an estate contingency plan.

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  • 529 plans – A college savings strategy that makes the grade

    March / April 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 583

    Abstract: As the cost of a college education continues to soar, it’s more important than ever to design an investment strategy that prepares your family for this major expense. The 529 plan has now emerged as perhaps the most powerful tool for financing higher education costs. This article focuses on the tax advantages of 529 plans.

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  • The ins and outs of inherited retirement plans

    March / April 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 813

    Abstract: Retirement plan withdrawals are generally subject to income tax. So if your estate includes substantial sums in such plans, understanding the tax implications for your beneficiaries can help you plan accordingly. Planning is particularly important if you’ve designated someone other than your spouse as the beneficiary of your 401(k) or similar retirement plan (or you’re the nonspouse beneficiary). The tax code permits nonspouses to stretch plan distributions — and the resulting taxes — out over their own life expectancies through a “nonspousal rollover,” but not all plans offer this option. This article looks at the minimum distribution rules and post-death distributions associated with inheriting a loved one’s retirement plan.

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  • Don’t get tripped up by travel expense rules

    March / April 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1250

    Abstract: For many companies and their employees, business travel is a way of life. Although deducting travel expenses may seem like a routine business practice, the rules are complex — and a wrong turn can have significant tax consequences. Many companies reimburse workers or provide advances for their travel expenses. The IRS tends to scrutinize expense reimbursement plans, so it’s a good idea to periodically review an “accountable plan” to ensure it still qualifies as such. This article reviews which travel expenses are deductible and to what extent.

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  • Tax Tips

    January / February 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 532

    Abstract: News items briefly discussed are the IRS’s random audit program, lodging expenses, out-of-state purchases, and what to do when the IRS or a state taxing authority informs a taxpayer of a discrepancy or mistake in a tax return.

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  • 5 post-year-end tax strategies to reduce your 2007 tax bill

    January / February 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 561

    Abstract: Now that you’ve “closed the books” on the 2007 tax year, you may think you’re finished tax planning for it. But there’s still time for you to implement these five post-year-end strategies that can reduce your 2007 tax bill. This article suggests making an IRA contribution, checking receipts, simplifying your retirement plan, reviewing losses and taking the expensing election.

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  • Bulletproofing your FLP

    January / February 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1208

    Abstract: During the last decade, family limited partnerships (FLPs) have come under increasingly intense fire from the IRS. But that doesn’t mean they’ve lost any of their muscle as an estate- and succession-planning tool. What it does mean is that the IRS may attempt to shoot down an FLP it believes is nothing more than a tax-avoidance scheme. This article explores how to create an FLP that’s bulletproof — or at least bullet resistant.

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  • Seal your exit strategy with an ESOP

    January / February 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 870

    Abstract: Many successful business owners have a substantial portion of their net worths tied up in their companies. Even if one plans to stay actively involved in a company for many years, it’s important to have an exit strategy that addresses when to convert business interests into cash for investment diversification purposes. Designing an exit strategy can be challenging — especially if a business is closely held or the company’s stock is thinly traded. How can a business owner cash out without selling the company to an outsider or giving up control? This article suggests one way: Implement an Employee Stock Ownership Plan (ESOP), which creates a market for stock and offers tax savings and other benefits to the company as well as its owners and employees.

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