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Showing 17–27 of 27 results
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Trusts and taxes – An IDGT can shift income tax liability
May / June 2015
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: Trusts often are a key component of an estate plan. But because trusts are considered separate legal entities, they’re subject to income tax. The income tax rate thresholds for trusts are low, so it’s important to consider the potential tax impact on an estate plan. This article details how an IDGT can provide the estate planning benefits of a trust while avoiding its potentially negative income tax consequences.
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In the News – Coming soon! Changes to the way borrowers report revenues
October / November 2014
Newsletter: Commercial Lending Report
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: The new standard issued in Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, provides a unified set of principles for recognizing revenues — replacing the current mishmash of more than 80 industry-specific revenue-recognition rules. This update is part of a landmark global accounting convergence project that will change how borrowers report the top lines of their income statements. This article explains which borrowers will be most affected, how they will report revenues, and how borrowers and lenders can prepare for these changes.
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Tax implications of investor or trader status
April 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: Most taxpayers who trade stocks are classified as investors for tax purposes. This means any net gains are going to be treated as capital gains vs. ordinary income. Taxwise, that’s good — up to a point. But traders have it better. However, trading must be “substantial” to successfully meet the test for trader status. This article explains how that’s defined.
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Newsbits – Court says donor is entitled to return of restricted gift
Winter 2014
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: In this issue, “Newsbits” discusses a court case that resulted in a nonprofit being forced to return a restricted gift that it had used for another purpose. We look at how the concept of kaizen, or continuous improvement, has been applied to the operations of a food bank. And we note a study showing that asset, gift and grant amounts for community foundations have reached new heights.
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Using an S corporation to hold stock in other corporations
November 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: In choosing an entity for a business, there are opportunities to use an S corporation to hold stock in other corporations, but not the stock of other S corporations. If any corporation acquires the S corporation’s stock, that S corporation becomes a C corporation, which is generally detrimental. The truth is that taxpayers with S corporations have a great deal of flexibility in structuring their corporate holdings. This flexibility allows an S corporation to hold C corporation subsidiaries and qualified Subchapter S subsidiaries, as this article explains.
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Colleges and Universities Compliance Project – IRS report may apply to broader nonprofit sector
Fall 2013
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: In 2013, the IRS released its final report about its Colleges and Universities Compliance Project, which was designed to gather information about endowments, executive compensation and unrelated business income (UBI) at randomly selected institutions of higher learning. The IRS identified significant problems with the compensation of high-level individuals and with UBI tax filings. The agency’s findings should be of interest not only to colleges and universities, but to all tax-exempt organizations, because the IRS has indicated that it might expand its compliance project.
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Why nonprofits need audits — even when they aren’t required
Summer 2013
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: Some nonprofits may be required to hire an outside CPA to audit their books. Even when external audits aren’t mandated, however, they’re often recommended because they can provide assurance that the organization is operating with integrity and within acceptable accounting guidelines. This article explains why external auditors are in a better position to conduct audits than staff or board members. Recommended Article
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Tax-free exchanges of life insurance policies
June 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: A periodic life insurance review is essential to ensure life changes have not altered the original intent for purchasing a policy, cover new or additional requirements, address concerns about the financial soundness of the insurer, and deal with various other issues. However, replac-ing a life insurance policy can create adverse federal income tax consequences. But there’s a way to do so while ensuring that any gain or loss is not recognized currently for income tax purposes. This article explains how this “1035 exchange” works.
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Contractor’s Toolbox – Debt relief also brings tax implications
Spring 2010
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: As the economy continues to struggle, many contractors are asking their lenders for debt relief. Often, restructuring debt is in the best interest of both borrower and lender. But contractors who are discussing workout options with their lender should be sure to consider the tax implications. Even if their property has declined in value, a foreclosure or debt workout can result in taxable cancellation-of-debt (COD) income for recourse loans, or capital gains for nonrecourse loans. There are ways to avoid or defer COD income, but the rules are complex.
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News for nonprofits – Family foundations to fill funding gap?
Year End 2009
Newsletter: Nonprofit Agendas
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: This month’s “News for Nonprofits” looks at how family foundations can help make up for recent decreases in donations, and why a nonprofit that has authority over — or is the signer on — a bank or financial account in a foreign country at any time during the calendar year will likely need to file a Foreign Bank and Financial Accounts (FBAR) report.
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Ask the Advisor – Q. Should I sign a TSA when I sell my business?
April / May 2009
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: This column defines transition services agreements (TSAs) as legal contracts in which a business buyer agrees to pay the seller a fee to maintain specific services for the business after the deal closes. It also explains why TSAs appeal to both parties. They free buyers from immediate responsibility for all of an acquisition’s operations and help speed up the deal process — meaning sellers get paid faster.