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Showing all 8 results
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The pros and cons of using LIFO accounting
November / December 2016
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: One of the most effective ways for a dealership to lower its income taxes is to adopt LIFO accounting. This article discusses the accounting and income tax filing advantages of using the LIFO method, as well as its other benefits. The article also pinpoints factors to consider when deciding between LIFO and FIFO and provides some details to keep in mind when using LIFO accounting, to prevent it from becoming a negative.
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Fighting shape — It’s time to bolster your nonprofit’s budget
Summer 2012
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: In the past few years, many nonprofits constricted spending to cover only the bare essentials. But this can make it hard for them to resume prerecession programming. As the economy rebounds, they need to seek new sources of funds to invest in the people, facilities and other resources needed to thrive and grow. This article explains how nonprofits can tap these sources, including new business ventures, without threatening their exempt status.
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When the cupboard’s bare – How fraud experts prove inventory theft
July / August 2012
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: Inventory fraud is notoriously difficult to find and document. So if a client suspects an employee of stealing inventory, it’s important to get a fraud expert involved as quickly as possible. As this article notes, the expert may discover that goods have simply been misplaced. But if fraud is involved, experts look for irregularities in journal entries, vendor invoices and purchase orders, and they work with the company to confirm physical inventory.
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Winning the battle, but losing the war — A look at Estate of Gallagher
March / April 2012
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: A recent U.S. Tax Court case addressed, among other things, the admissibility of subsequent data, the guideline public company method, tax affecting, and valuation discounts, providing insight into the court’s stance on a broad range of valuation issues. The article notes that, though no additional tax liability was assessed against the estate, the decision wasn’t entirely a victory for taxpayers, because the court sided with the IRS on many key issues.
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Know the tax consequences of an installment sale
January / February 2012
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: In a slow real estate market where financing can be tough to obtain, some investors are finding they have a better chance of disposing of real property in an installment sale. This type of transaction provides some financial benefits to both buyer and seller. But it’s important to understand the ins and outs before jumping in. This article discusses the potential pros and cons, and explains how to report an installment sale under the “installment method.” A sidebar notes that a wraparound mortgage can avoid the negative tax treatment that occurs when a buyer assumes an existing mortgage that’s more than their installment sale basis in the property.
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Always an issue – IRS still watchful for misclassified employees
April / May 2011
Newsletter: Trendlines
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: The conflict between the IRS and businesses regarding who is an independent contractor and who is an actual employee is nothing new and will probably always be an issue. This article shows how to keep up to speed on the IRS rules regarding the use and classification of independent contractors. It discusses the different characteristics of employees and contractors and IRS penalties for failing to observe the distinction.
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Survival of the smartest – Cash flow forecasting is a crucial business tool
May / June 2009
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: Cash, simply put, makes the (business) world go round. But, in these times of rapid economic contraction, dealers biting the bullet often struggle with the flow of cash as sales shrink, expenses persist and trade payable terms seem to get shorter. All of these are reasons to forecast cash flow.
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Does merely calling in sick trigger FMLA protection?
March / April 2009
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: The Seventh Circuit held that an employee had failed to sufficiently inform her employer of her serious medical condition so as to trigger her rights under the Family and Medical Leave Act. de la Rama v. Illinois Department of Human Services, 541 F.3d 681 (7th Cir. Ill. 2008)