TXI

Showing 49–64 of 312 results

  • Tax Tips – Should you donate your car to charity?

    November / December 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 442

    Abstract: These brief tips explain why donating a car to charity may not be the most tax-efficient strategy, detail what to address in an estate plan for a college-age child, and discuss new IRS compliance campaigns that target specific business-related tax issues.

    Read More

  • GST tax exemption has increased, but not permanently

    November / December 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 623

    Abstract: One change affecting estate plans under the Tax Cuts and Jobs Act is that, for the estates of persons dying after December 31, 2017, and before January 1, 2026, the generation-skipping transfer (GST) tax exemption amounts increase to an inflation-adjusted $10 million, or $20 million for married couples with proper planning ($11.18 million and $22.36 million, respectively, for 2018). This article details how the GST tax works and what transfers are taxable.

    Read More

  • Got bitcoin? Understand your tax obligations

    November / December 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 548

    Abstract: The tax treatment of bitcoin and other “virtual currencies” — also known as “cryptocurrencies” — is widely misunderstood. But if one invests in virtual currency, uses it to pay for goods or services, or receives it as payment for goods or services, failure to understand the tax obligations can have serious consequences. This article explains the IRS policies regarding virtual currencies.

    Read More

  • Supreme Court’s Wayfair decision – What it means for Internet and mail-order sales

    November / December 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 813

    Abstract: In its much-anticipated decision in South Dakota v. Wayfair, the U.S. Supreme Court ruled, by a 5 to 4 margin, that a state may require out-of-state sellers to collect sales and use tax even if they lack a physical presence in the state. In reaching this result, the court overturned its landmark 1992 decision in Quill Corp. v. North Dakota. This article explains how the ruling affects businesses and their tax obligations. A sidebar explores whether other states will follow South Dakota’s lead in establishing similar sales thresholds to establish substantial nexus.

    Read More

  • Tax Tips – Yes, home equity loan interest may still be deductible

    September / October 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 488

    Abstract: These brief tips explain that home equity loan interest may still be deductible post–Tax Cuts and Jobs Act (TCJA), detail two changes the TCJA made to business losses, and discuss whether a qualified personal residence trust is still relevant today.

    Read More

  • Ease new itemized deduction limitations using a nongrantor trust

    September / October 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 561

    Abstract: Record-high exemption amounts mean that fewer families are affected by gift, estate and generation-skipping transfer (GST) taxes. As a result, the estate planning focus for many people has shifted from transfer taxes to income taxes. One tool that can be effective in reducing income taxes is a nongrantor trust, which offers a way around the new itemized deduction limitations imposed by the Tax Cuts and Jobs Act (TCJA). This article explains the role nongrantor trusts play in easing the itemized deduction limitations.

    Read More

  • Know your tax obligations before hiring household help

    September / October 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 585

    Abstract: There are several reasons for hiring household help, including child or elder care or general cleaning and yard maintenance. However, when a person hires outside help, he or she becomes an employer. Thus, that person has specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance. This article examines the tax-related responsibilities associated with hiring outside help.

    Read More

  • Are LLC members subject to self-employment tax?

    September / October 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 906

    Abstract: Ambiguity in the tax code and regulations has led many limited liability company (LLC) members to take an aggressive position regarding self-employment (SE) tax. They claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to the tax. Recently, however, the IRS has been cracking down on LLC members it claims have underreported SE taxes. This article provides a definition of SE taxes and examines whether LLC members must pay SE tax. A sidebar notes proposed regulations that contemplate situations in which an active LLC member can exclude certain amounts from self-employment income.

    Read More

  • Tax Tips – Make the most of the 0% capital gains rate

    July / August 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 440

    Abstract: These brief tips explain strategies that take advantage of the 0% capital gains rate, detail how the Tax Cuts and Jobs Act expands the research credit, and discuss the pitfalls of having a formula clause in an estate plan.

    Read More

  • Putting the brakes on spending – Add spendthrift language to a trust to protect assets

    July / August 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 641

    Abstract: Despite its name, the purpose of a spendthrift trust isn’t just to protect profligate heirs from themselves. Adding spendthrift language to a trust benefiting one’s heirs can help safeguard assets from their creditors, or in the event of relationship changes. This article explains the effects of adding spendthrift language to a trust.

    Read More

  • Tax cost of divorce set to rise in 2019

    July / August 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 573

    Abstract: One of the lesser known aspects of the Tax Cuts and Jobs Act is that it affects the tax treatment of alimony. This article explains the changes and details the impact for post-2018 divorces.

    Read More

  • C corporation vs. pass-through – What’s the right structure for your business?

    July / August 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 892

    Abstract: The Tax Cuts and Jobs Act slashed the federal corporate income tax rate to a flat rate of 21% and eliminated the corporate alternative minimum tax (AMT). Meanwhile, owners of pass-through entities — partnerships, S corporations and LLCs — are taxed on their shares of business income at individual rates as high as 37%. This article explains factors to consider in determining whether organizing a business as a C corporation would reduce one’s overall tax burden. A sidebar examines additional factors to consider when determining the ideal structure for a business.

    Read More

  • Tax Tips – Alimony deduction is coming to an end

    May / June 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 465

    Abstract: These brief tips explain that the Tax Cuts and Jobs Act (TCJA) eliminates the alimony deduction, how the TCJA affects the kiddie tax and why small businesses should consider offering Health Reimbursement Arrangements.

    Read More

  • Gain flexibility with a self-directed IRA

    May / June 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 651

    Abstract: Traditional and Roth IRAs are considered relatively “safe” retirement-savings vehicles, but a drawback to them is that they limit investment choices. A self-directed IRA provides more flexibility in investment choices with potentially greater returns, including real estate, precious metals, energy and other alternative investments. On the downside, self-directed IRAs are riskier and can lead to unfavorable tax consequences. This article explains how a self-directed IRA affects an estate plan.

    Read More

  • Are you personally liable for your company’s payroll taxes?

    May / June 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 505

    Abstract: When a business fails to remit payroll taxes, the IRS has the authority to collect those taxes from “responsible persons,” including certain shareholders, partners, officers and employees. The IRS takes an expansive view of who constitutes a responsible person. This article defines a “responsible” person and references a court case that shows the lengths that the IRS will go to in order to collect unpaid payroll taxes.

    Read More

  • The price of giving – Tax reform’s impact on charitable donations

    May / June 2018
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 922

    Abstract: For those who make substantial donations to charity, it’s important to evaluate the impact of the Tax Cuts and Jobs Act (TCJA) on the “price” of the gifts. Even though charitable giving is motivated primarily by compassion and generosity rather than the availability of tax incentives, the after-tax cost may affect the amount a person is willing or able to give. This article examines how the TCJA affects charitable giving. A sidebar discusses charitable IRA rollovers.

    Read More