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Year-end tax planning tips for individuals – 2020 presents challenges and opportunities
October / November 2020
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: COVID-19’s impact is being felt across the financial spectrum, from lower interest rates, slashed dividends and reduced incomes to unpredictable stock market swings. At this volatile time, it’s important for individuals to be aware of some potential strategies for reducing their income tax liability before the end of the year. These include charitable giving and converting pretax traditional IRAs to after-tax Roth IRAs. A sidebar discusses strategies related to gift and estate taxes.
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LIBOR no more: How to prepare for the rate’s expected demise
Winter 2020
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: For decades, financial institutions around the world have used the London Interbank Offered Rate (LIBOR) as a reference interest rate for loans and other financial instruments. But over the last several years, the marketplace has lost confidence in LIBOR for several reasons. This article explains that LIBOR will likely be discontinued after 2021 and that a global effort is currently underway to identify alternative reference rates. It notes the importance of working with the bank’s advisors to identify an appropriate reference rate for the bank — drafting fallback language that reflects the bank’s particular circumstances.
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Tax Cuts and Jobs Act – Planning can help your nonprofit minimize negative effects
Spring 2018
Newsletter: Nonprofit Observer
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: The Tax Cuts and Jobs Act (TCJA) offers plenty for nonprofits to mull over and plan for. This article outlines how changes to the standard deduction and doubling of the estate tax exemption are expected to reduce charitable giving. It also covers the law’s effect on unrelated business income tax, executive compensation and tax-exempt bonds.
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Simpler accounting option now available for leasing entities
Winter 2015
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: FASB’s Accounting Standards Update (ASU) No. 2014-07, Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements, offers private companies a simpler way to account for certain related leasing entities. Construction businesses that adopt the alternative can avoid the potentially costly variable interest entity (VIE) analysis associated with these entities and need not consolidate these entities on their financial statements. This article explains why this can be advantageous for contractors. A private company may opt out of the VIE rules with respect to a leasing entity, but, as a sidebar explains, this isn’t right for every contractor.
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Staying on steady ground – Health care law entails ongoing planning, preparation
Summer 2011
Newsletter: Management & Tax Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 908
Abstract: Although the passage of the Patient Protection and Affordable Care Act (PPACA) is no longer news, opponents are still lobbying for its repeal, and there remain questions about whether every provision will come to fruition. Companies will need to conduct ongoing planning and preparation to ensure their PPACA compliance. This article discusses the future tax penalty for some companies that do not provide coverage (and a tax break for those that do), stricter restrictions on insurance companies, and present rules regarding coverage to employees’ dependent children. A sidebar explains that small businesses currently have the option of adopting a simplified cafeteria health care plan.