563
Showing 1–16 of 20 results
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SECURE 2.0: What it means for 403(b) plans
Fall 2023
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In late 2022, President Biden signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Following 2019’s bipartisan SECURE Act, the latest legislation is intended to encourage more robust retirement savings. It includes several provisions affecting the 403(b) plans typically offered by nonprofit organizations. This article summarizes some of the changes that may require plan amendments and updates to a nonprofit organization’s systems and procedures.
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SECURE 2.0: What it means for 403(b) plans
October / November 2023
Newsletter: Nonprofit Agendas
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In late 2022, President Biden signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Following 2019’s bipartisan SECURE Act, the latest legislation is intended to encourage more robust retirement savings. It includes several provisions affecting the 403(b) plans typically offered by nonprofit organizations. This article summarizes some of the changes that may require plan amendments and updates to a nonprofit organization’s systems and procedures.
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Due diligence is critical when buying a distressed business
September / October 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In the aftermath of the COVID-19 pandemic and the ensuing market volatility, some businesses are struggling to survive. This article explains that a distressed business may be a prime target for a takeover — but due diligence is critical to avoid overpaying.
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Bolster wealth management with trusts
May 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: Trusts can help affluent individuals and families manage, protect and grow their wealth. But there are a wide variety to choose from, so it’s important to understand the basic concepts behind trusts before choosing one. This article defines trusts and provides an example of how one popular trust type works. A sidebar looks at another example: intentionally defective grantor trusts.
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Protect your business with meticulous records
February 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: Running a business requires that strong, supportable records be kept. Every expense that appears on a tax return might have to be defended if the IRS decides to audit the return. And failing to operate in a businesslike manner and keep good records might lead the IRS to deem the activity a hobby rather than a business. This means expenses may be limited or disallowed. This article and a sidebar illustrate how the IRS (and sometimes the courts) view business records, what they’re looking for and what’s considered acceptable substantiation.
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Get more worms by filing your taxes early
February 2022
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: They say the early bird gets the worm. Early federal income tax filers may get a couple worms. This article discusses two benefits to filing early. A sidebar addresses the idea of not filing a 2021 tax return until one’s delayed 2020 tax refund is issued.
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White v. White – Is appreciation separate or marital property?
July / August 2021
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: When dividing property in a divorce case, courts in most states distinguish between separate and marital property. Generally, separate property isn’t subject to division, while marital property is. However, a recent Nebraska Supreme Court case highlights how an increase in the value of separate property may sometimes be classified as marital property and, therefore, be subject to division. White v. White, 937 N.W.2d 838 (Neb. 2020).
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White v. White – Is appreciation separate or marital property?
July / August 2021
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: When dividing property in a divorce case, courts in most states distinguish between separate and marital property. Generally, separate property isn’t subject to division, while marital property is. However, a recent Nebraska Supreme Court case highlights how an increase in the value of separate property may sometimes be classified as marital property and, therefore, be subject to division. White v. White, 937 N.W.2d 838 (Neb. 2020).
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Court rejects value based on improbable subsequent events
July / August 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In a recent gift tax case, the U.S. Tax Court rejected the IRS’s valuation of a nonvoting stake in a limited liability company (LLC), because it was based on actions conjectured to occur after the gift was made that weren’t reasonably probable. This article explains why the court accepted the taxpayer’s value, which included discounts for lack of control and marketability. Grieve v. Commissioner, TC Memo 2020-28 (March 2, 2020)
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Know the risks of the secondary market mortgage business
Fall 2019
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: In the past few years, community banks have been turning more frequently to the strategy of selling the mortgage loans they’ve originated to the secondary market. This article points out that banks that don’t have a good grasp of the risks and rewards of this approach may end up losing out. It notes that, when entering into loan sale agreements, it’s important for community banks to pay close attention to the details — including all representations and warranties — to ensure the outcome is positive.
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Your responsibility when hiring household help
November / December 2018
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: Hiring household help involves important tax responsibilities. As this article details, proper filing and reporting by employers enables workers to build an employment record and gain access to Social Security, Medicare and other benefits. And it helps protect employers from potentially expensive and time-consuming legal trouble.
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AMT awareness: Be ready for anything
September 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: When it comes to tax planning, everyone needs to be ready for anything. For example, many taxpayers may not know whether they’re likely to be subject to the AMT. This article explains the purpose of this alternative tax system and offers some steps that may help minimize liability. A sidebar looks at factors that may trigger the AMT.
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IRS issues new guidance for attorneys’ fees and costs in IRS proceedings
July / August 2016
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: The IRS recently released new guidance providing for awards to taxpayers for their reasonable administrative and litigation costs if they substantially prevail in proceedings involving the agency. In addition, the IRS offers more information detailing processes specific to pro bono representation. This article lists the provisions most likely to be of interest to attorneys and their clients and notes the dates these regulations become effective.
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Avoid costly disputes with a buy-sell agreement
January / February 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: A buy-sell agreement can help avoid disputes over ownership rights, control and the value of a company when an owner leaves the business. Whether the agreement is triggered voluntarily or involuntarily, owners need to protect their financial interests with an agreement that’s legally enforceable and comprehensive. This article points out that it’s important to define buyout terms, avoid ambiguous or outdated valuation formulas and specify the financial data to be used in a buy-sell agreement.
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Do you have a succession plan for your vacation home?
March / April 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: Few estate planning issues are as emotionally charged as the disposition of the family home. And emotions may run even higher with vacation homes, which often evoke even more fond memories. So it’s important to address one’s vacation home in an estate plan. This article discusses considerations that should be addressed in transferring a home. Or, for those who are not yet ready to give up ownership, it explores other strategies, such as a qualified personal residence trust (QPRT) or qualified terminable interest property (QTIP) trust.
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The pros of being proactive with the IRS
Winter 2010
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: As long as an IRS examiner isn’t knocking at the door asking specific questions, many nonprofit leaders don’t volunteer information. In some cases, however, it could be to their advantage to do just that. If, for example, a mistake is uncovered in a filing, taking a proactive stance with the IRS can help minimize potential hassles and penalties. It’s important to get professional advice, learn the facts, and keep a sense of perspective. The IRS is likely to be more amenable to finding a solution for nonprofits that approach it voluntarily.