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Showing all 15 results

  • Is it a gain or a loss? Tax Court determines amount realized is neither

    January / February 2019
    Newsletter: Real Estate Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: The U.S. Tax Court regularly hears cases regarding the proper tax treatment of property sales. This article reviews a case that the court described as a “conundrum only tax lawyers could love.” Karl and Christina Simonsen v. Commissioner (150 T.C. No. 8, 2018)

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  • Buy-sell agreements – When a smart business decision also makes estate planning sense

    June / July 2018
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: If a person owns a business with one or more individuals, drafting a buy-sell agreement is smart estate planning, as the business interests likely represent a substantial part of his or her estate. This article explores the benefits of a buy-sell agreement.

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  • All in the family – Transferring your vacation home

    February / March 2018
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: Vacation homes are typically treasured by families and often pass down from generation to generation. But there may be more to transferring the family lake cottage or beach house than first meets the eye. If one plunges ahead without careful planning, it could disrupt harmony and lead to a “family feud.” In some cases, relationships may be severed forever. This article details how to properly account for a vacation home in an estate plan.

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  • Restricted stock: Should you pay tax now or later?

    November / December 2017
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: For growing companies, equity-based compensation is a powerful tool for attracting and retaining executives and other key employees. This article explains why a person who receives an award of restricted stock or purchases shares subject to vesting should consider making an election under Internal Revenue Code Section 83(b) to accelerate taxable income associated with the stock.

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  • Are settlement proceeds taxable?

    November / December 2017
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: The federal tax code specifically excludes damages received for personal physical injuries or physical illness from taxable gross income. But sometimes it’s hard to determine the nature of settlement proceeds. This article summarizes a recent U.S. Tax Court decision that illustrates the importance of using the “right” wording in settlement agreements to minimize unfavorable tax consequences. McKinney v. Commissioner, No. 9512-15, U.S. Tax Ct. (January 5, 2017)

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  • Why cloud computing makes sense for most nonprofits

    Winter 2017
    Newsletter: Nonprofit Observer

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: Cloud computing promises nonprofits lower technology costs and greater efficiency and productivity. This article explains how cloud services work — including how they provide enhanced security and privacy — and what qualities to look for when selecting a cloud computing vendor.

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  • The ins and outs of donating historic preservation easements

    January / February 2016
    Newsletter: Real Estate Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: The term “preservation easement” is commonly used to describe a type of conservation easement that is a private, legal arrangement between a property owner and a qualified nonprofit organization or governmental agency for the protection of a historic property. But the IRS often challenges such donations, seeking how a charitable deduction is justified, or how to assign value on the underlying property. This article offers some answers.

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  • What’s the value of my franchise?

    November / December 2015
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: The International Franchise Association estimates that there are currently more than 2,000 different brands operating over 700,000 franchised units in the United States. Based on the number of people who own franchises, it may seem like an easy route to owning a private business. But not all franchises are created equal. This article discusses the unique challenges and considerations that go into valuing a franchise, as well as the top five franchise industries in 2015 based on owner satisfaction.

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  • Succession planning – Will your buy-sell agreement work when you need it?

    Winter 2015
    Newsletter: Construction Industry Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: To ensure a smooth ownership and management transition from one generation to the next, all closely held construction companies should have a succession plan. And a key component of that plan is a buy-sell agreement, which provides for the orderly transfer of ownership and control and creates a market for otherwise unmarketable ownership interests. However, as this article explains, a buy-sell agreement should have a carefully designed — and current — valuation provision, which sets the purchase price for a departing owner’s shares.

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  • Using an FLP as an income tax planning tool

    July / August 2013
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: For many years, family limited partnerships (FLPs) have been a popular vehicle for consolidating and managing family wealth while reducing gift and estate taxes. Now that fewer people are subject to these taxes, an FLP may have lost some of its appeal as an estate planning tool. But with individual income tax rates at their highest level in years, it’s important to not overlook an FLP’s potential as an income tax planning tool. Transferring limited partnership interests to children or other family members in lower tax brackets can reduce a family’s overall tax liability.

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  • Retaining legal talent – Telecommuting and flexible work options are critical

    Winter 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: Because law firms spend considerable time, money and energy recruiting the right people, it’s important to give those people incentives to stay. One incentive to consider offering is telecommuting — along with other flexible work options. This article discusses the benefits of telecommuting for many attorneys and for the firm, and offers a list of other flexible work options to consider.

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  • Start cross-training your accounting staff

    September / October 2010
    Newsletter: Dealer Insights

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: The benefits of cross-training accounting personnel outweigh the investment in the time it takes to get these employees up to speed at handling one another’s responsibilities. This article shows the benefits of cross-training in regard to both productivity and employee morale, and lists the areas of accounting that can benefit most. A sidebar briefly discusses the importance of encouraging supervisors to informally reverse-train within their respective departments.

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  • Start early, end strong – Tax planning in litigation

    January / February 2010
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: Tax planning at the beginning of a case can have a significant impact on the eventual financial outcome. There’s a substantial difference between an award or settlement that’s subject to income tax and one that’s not. Most cases involve a combination of taxable and nontaxable claims; the ultimate tax treatment of an award or settlement depends on how it’s allocated among those claims. For example, some damages are excluded from income — and, even for those that aren’t, the distinction between wage and nonwage damages is important. It pays to give some thought to tax issues early so as to secure the most tax-advantageous result for a client.

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  • On the same page – Communicate your estate planning motives with a mission statement

    November / December 2009
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: There are several reasons to create an estate plan, and there are many estate planning techniques and strategies to help achieve one’s estate planning goals. But, to avoid disputes, an important final step is communicating one’s intent and wishes to family members. This can be accomplished through a written mission statement — an effective way to help loved ones understand the decedent’s motives and the values and principles underlying the estate plan.

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  • Naming your retirement plan beneficiaries? Remember the tax considerations

    Spring 2008
    Newsletter: Management & Tax Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 580

    Abstract: Regularly reviewing the beneficiaries of a retirement plan — particularly if there’s been a life-changing event, such as a divorce, birth or death — is always a good idea. Specifically, when selecting beneficiaries, plan owners need to consider the income and estate tax impact of their choices. This article tackles the issues one by one. (Updated 6/10/12)

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