TXI
Showing 353–368 of 384 results
-
Tax Tips – Accelerated depreciation for building improvements – Are you a trader or an investor? – Dipping into retirement savings comes at a high price
March / April 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 564
Abstract: News items briefly discussed are the accelerated depreciation for building improvements, determining trader status and dipping into retirement savings withdrawals.
-
Stay tuned to tax law changes and reduce your tax bite
March / April 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1189
Abstract: With recent economic downturns and important pieces of tax legislation being passed over the past year, you may be wondering what changes you need to make now to protect yourself in the future. Keeping abreast of tax law changes and tax-saving strategies is one way you can protect your assets. This article looks at some key changes made from the new laws: the homebuyer tax break, charitable IRA rollovers and the sales tax deduction.
-
Taking stock of your inventory accounting method
March / April 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 685
Abstract: If your business involves the production, purchase or sale of merchandise, inventory accounting can have a significant effect on your tax bill. In some cases, switching inventory accounting methods from first-in, first-out (FIFO) to last-in, first-out (LIFO) can reduce your taxable income, giving your cash flow a boost. This article reviews factors to consider with inventory accounting methods, including tax savings and the effect the change will have on financial statements.
-
5 common estate planning mistakes
March / April 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1021
Abstract: In today’s uncertain economic times, estate planning is more important than ever. A carefully crafted estate plan can help you provide for your family’s financial security at the lowest possible tax cost. This article explains five common estate planning mistakes to avoid.
-
Tax Tips – Government incentives for business growth – 1099s – Municipal bonds
January / February 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 474
Abstract: News items briefly discussed are government incentives for business growth, the new law requiring processors of credit card transactions to file 1099s reporting a merchant’s annual gross payment card receipts, and municipal bonds.
-
Succession story – Estate planning for family business owners
January / February 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1132
Abstract: Many families invest a lot of time, energy and resources into building successful businesses but pay little attention to how their companies will make the transition from one generation to the next. According to a 2008 study by Campden Research, Protecting the Family Fortune, a majority of affluent family business owners “are not implementing succession plans, don’t have asset protection strategies and are not updating estate plans, leaving their professional and personal interests vulnerable.” Failure to address succession is risky: According to the study, only 15% of family businesses survive past the second generation. To improve your odds and protect your family’s wealth, review this article for strategies to ensure your succession is successful and the tax impact is minimized.
-
The home sale exclusion may be more limited than you think
January / February 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: The capital gains tax exclusion for home sales may be the best-known provision in the tax code. But it’s also widely misunderstood. Many people assume they can sell their homes tax-free, but that’s not always the case. And a recent tax law change further limits the exclusion for certain sellers. This article looks at the eligibility requirements for the home sale exclusion so that homeowners don’t receive an unpleasant tax surprise when they go to sell their homes.
-
Ensuring your business structure is the right one
January / February 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1133
Abstract: Selecting the right business structure — either C corporation, S corporation, limited liability company (LLC), partnership or sole proprietorship — for your business is a complex decision that requires you to consider a number of interrelated tax, liability and administrative factors. There’s no one right answer because it depends entirely on your circumstances, which may change over time. That’s why it’s essential to periodically review your business structure. This article focuses on some of the factors that will affect whether you keep your current structure or, if needed, elect a new one.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.