TXI

Showing 33–48 of 312 results

  • Tax Tips – Helping employees pay down student loan debt

    July / August 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 407

    Abstract: These brief tips explain guidance the IRS provided to one employer regarding paying down employees’ student debt; explore the concept of “upstream” estate planning; and detail overlooked charitable deductions.

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  • The GST tax and your estate plan: What you need to know

    July / August 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 565

    Abstract: The Tax Cuts and Jobs Act doubled the generation-skipping transfer (GST) tax exemption to $10 million beginning last year. The exemption is adjusted annually for inflation. (For 2019, the exemption amount is $11.4 million.) However, even though most families won’t be affected by the GST tax, it’s important to note that, beginning in 2026, the GST tax exemption is scheduled to return to a pre-TCJA level of $5 million. This article defines the GST tax and explains potential allocation pitfalls.

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  • Income tax withholding – Examine your withholding allowances today

    July / August 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 604

    Abstract: Even if a person claimed an appropriate number of withholding allowances on Form W-4, there’s no guarantee that the total withholdings will match one’s tax liability for the year. Many people learned this lesson the hard way during the 2018 tax filing season, receiving smaller refunds than expected or even owing the IRS more taxes. This article explains the problem with withholding tables and discusses how to avoid surprises next year.

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  • Partnerships: If you’re audited, will you be ready?

    July / August 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 904

    Abstract: The Bipartisan Budget Act of 2015 established a new “centralized audit” regime for partnerships, including LLCs taxed as partnerships. Although the new audit rules apply to partnership tax returns for tax years beginning after 2017, the IRS didn’t finalize regulations on these rules until December 2018. This article reviews the new audit rules and discusses steps partnerships should take if they’re audited.

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  • Tax Tips – Hang on to your passport

    May / June 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 437

    Abstract: These brief tips explain steps to take to hold on to a passport when one has seriously delinquent tax debt; detail the benefits of a cash balance retirement plan; and discuss why having a formula-funding clause in an estate plan can unintentionally disinherit a spouse.

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  • When can you deduct business meals?

    May / June 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 579

    Abstract: The Tax Cuts and Jobs Act eliminated most tax deductions for business-related entertainment, beginning in 2018. It also created confusion over the continued deductibility of business meals. Late last year, the IRS issued a notice clarifying that taxpayers may continue to deduct 50% of eligible business meal expenses and providing temporary guidance on the subject. This article details a five-point test to determine whether business meal expenses are deductible.

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  • Estate planning and business succession planning – The lines blur when a family business comes into play

    May / June 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 633

    Abstract: For many business owners, estate planning and succession planning go hand in hand. An owner of a closely held business likely has a significant portion of his or her wealth tied up in the business. Without proper estate planning steps to ensure that the business lives on after the owner has gone, his or her family may be placed at risk. This article explains the unique challenges presented by family businesses when older and younger generations may have conflicting financial needs.

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  • The “backdoor” Roth IRA remains open

    May / June 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 875

    Abstract: The Roth IRA is an attractive savings vehicle, offering tax-free retirement income and other significant benefits. Unfortunately, income limitations prevent many people from contributing to these accounts. But even if one can’t contribute directly, there’s no limit on converting a traditional IRA into a Roth. This “backdoor Roth IRA” strategy allows anyone, regardless of income, to enjoy a Roth IRA’s benefits. This article examines how a backdoor Roth IRA works. A brief sidebar explains the aggregation rule.

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  • Tax Tips – Exporters, does an IC-DISC still make sense?

    March / April 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 437

    Abstract: These brief tips detail how the Tax Cuts and Jobs Act has affected the interest-charge domestic international sales corporation (IC-DISC), discuss a U.S. Tax Court case involving related-party transactions, and explain the pitfalls of including S corporation stock in a trust.

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  • Getting your affairs in order when you’re terminally ill

    March / April 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 316

    Abstract: If a person receives the diagnosis of a terminal illness, likely the last thing on his or her mind is estate planning. But taking the time now to get affairs in order can provide one’s family peace of mind. This brief article details several actions to consider if time is short.

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  • Matters of interest – When are interest payments deductible?

    March / April 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 748

    Abstract: The Tax Cuts and Jobs Act has made a significant impact — both directly and indirectly — on the deductibility of interest expense. This article explores four categories of nonbusiness interest: qualified residence interest, investment interest, qualified student loan interest and personal interest.

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  • Qualified Opportunity Zones – A powerful tax incentive for investors

    March / April 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 886

    Abstract: Investors willing to make long-term investments in distressed communities now have a powerful tax incentive for doing so: the Qualified Opportunity Zone (QOZ) program, created by the Tax Cuts and Jobs Act. This article explains the QOZ program and how to make the most of its benefits. A brief sidebar uses a fictional example to explain the potential benefits of investing in a Qualified Opportunity Fund.

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  • Tax Tips – Employers can use 401(k) plans to help employees pay student loans

    January / February 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 450

    Abstract: These brief tips detail the IRS’s student loan repayment program that employers can provide to employees, examine the bills that may be included in Tax Reform 2.0 and explain the finalized regulations on the substantiation and reporting rules for deductible charitable contributions.

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  • Relax, but don’t forget about taxes – Owning a vacation home requires tax planning

    January / February 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 663

    Abstract: A vacation home can be many things to different people. However a family plans to use their vacation home, it pays to understand the tax rules regarding income and expenses associated with the property. This article explains the tax implications of owning a vacation home.

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  • BDIT lets you give away property without losing control

    January / February 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 539

    Abstract: To take advantage of the higher exemption amount under the Tax Cuts and Jobs Act (TCJA), many families that own businesses or other assets worth more than the pre-TCJA exemption amount are planning substantial gifts to their children or other loved ones during the next seven years. The drawback to gifting substantial assets is losing control of them. This article details the advantages of using a beneficiary defective inheritor’s trust in these situations.

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  • Are your business interest expenses deductible?

    January / February 2019
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 902

    Abstract: Before the Tax Cuts and Jobs Act (TCJA), most business-related interest expense was deductible, although corporations couldn’t deduct interest paid to or guaranteed by a related party under certain circumstances. But for tax years beginning after 2017, the TCJA imposes a limit on business interest deductions, with exceptions for “small businesses” and electing real estate and farming businesses. This article explains why all businesses should evaluate the impact of the new deduction limit on their tax liability, and plan accordingly. A sidebar discusses IRS Notice 2018-28, which provides interim guidance on several issues involving business interest expense and income.

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