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Showing all 10 results
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Beware of tax surprises if you work remotely
March / April 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The COVID-19 pandemic forced many employees to participate in a global experiment on the pros and cons of remote work. As a result, it’s here to stay for many businesses. A remote workforce offers distinct benefits, for employer and employees alike. But it’s important to keep in mind the tax implications. This article details potential tax surprises — for employees and employers — that may occur as a result of working remotely. A sidebar discusses whether remote workers can deduct business expenses.
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SECURE Act – Revisit your retirement plan in light of new law
July / August 2020
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law in December 2019, is designed to improve access to tax-advantaged retirement plans. It also recognizes that many people work beyond the traditional retirement age. This article highlights SECURE Act provisions that push back required minimum distributions, lift the age limit for IRA contributions and reduce costs for businesses offering plans to workers. A sidebar explains how the SECURE Act may affect estate planning.
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How much owners’ compensation is “reasonable”?
July / August 2018
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The IRS may challenge the reasonableness of compensation a business pays to its owners and other related parties under a variety of situations. This article explains the factors to consider when evaluating compensation paid by C corporations and pass-through entities, including S corporations, partnerships and limited liability companies (LLCs) treated as partnerships for tax purposes. A sidebar highlights IRS internal guidance that provides valuable insight on how IRS examiners are trained to assess what’s reasonable.
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On the right path – Adjustments to depreciation rules
August / September 2016
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The PATH Act of 2015 significantly changed two depreciation tax breaks — Section 179 expensing and bonus depreciation — in ways that are favorable to many companies. Although the new rules are somewhat complicated, this article explains how professional accounting advice can help many businesses benefit from these changes in planning their investments in depreciable assets. A sidebar discusses how the act affects the Work Opportunity credit.
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Let’s talk about leases – New accounting standard to usher in significant changes
Summer 2016
Newsletter: On-Site
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: Earlier this year, the FASB issued its long-awaited update revising the appropriate treatment of leases on financial statements. Affected construction companies should start assessing its impact now. This article explains important details of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). A sidebar looks at how the complexity of combined contracts is addressed.
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Retirement plan loans: The pros and cons
April / May 2015
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: According to the Employee Benefit Research Institute, more than one-fifth (or 21%) of all 401(k) plan participants eligible for loans have loans outstanding at any given time. Looking out for the best interests of plan participants might involve discouraging them from borrowing against their savings, at least in the absence of a personal financial crisis. This article summarizes plan loan requirements that all plan fiduciaries should know.
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IRS final regs on tangible property – Safe harbors opened and expanded
May / June 2014
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The IRS has released its final regulations on the proper tax treatment of expenditures related to tangible property, including buildings. The regs explain how property owners can distinguish between expenses (which are immediately deductible against current income) and capital expenditures (which must be recovered over time through depreciation). As this article explains, they retain many of the earlier regs’ provisions but modify several sections and create and expand some notable safe harbors. And a sidebar notes that the final regs provide some relief for certain taxpayers that don’t have their financial statements audited.
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10 common law-firm mistakes – How many are you making?
Spring 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: Seemingly benign management errors or neglect can have disproportionately negative effects on a law firm’s bottom line. This article lists 10 of the most common errors and offers suggestions for avoiding them. They involve, among other things, poor financial recordkeeping, little or no business development or strategic planning, and inequitable compensation.
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IRS proposes new requirements for tax-exempt hospitals
Winter 2013
Newsletter: Healthcare Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: The IRS has released proposed regulations clarifying a nonprofit hospital’s responsibilities under a provision of the Affordable Care Act (ACA). Under the new regs, a tax-exempt hospital must establish a written financial assistance plan (FAP) that clearly describes five elements. This article lists those elements and discusses what hospitals need to do to comply. A sidebar lists five steps the IRS regs say a charitable hospital must take to widely publicize its FAP.
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Rules of thumb: Do they have a place in business valuation?
November / December 2012
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: Business valuation rules of thumb may offer a rough indication of value that can be used to satisfy a business owner’s curiosity or to serve as a “reasonableness or sanity check” on results derived from other methods. But they fail to capture the specific characteristics of a business that drive its value, and so are no substitute for a comprehensive, formal valuation. This article explains what constitutes a rule of thumb and points out these rules’ limitations. A sidebar offers an example of a rule of thumb in action.