918
Showing all 13 results
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Year-end tax planning strategies for businesses
November / December 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: As 2023 comes to a close, now is a good time for businesses to consider year-end moves that can help reduce their tax bills. This article explores several year-end tax planning strategies for businesses to consider. A brief sidebar answers the question of whether companies can write off bad business debts.
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Basis points – How planning can minimize the impact of income taxes
November / December 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax. Although there were income tax advantages to retaining assets in an estate, the estate tax costs usually eclipsed any potential income tax savings. But things have changed: Between 2001 and 2023, the federal gift and estate tax exemption soared from $675,000 to $12.92 million. The highest estate tax rate dropped from 55% to 40%. Today, only the wealthiest of families are exposed to estate tax liability, elevating the importance of income tax planning. This article details the differences between income and estate tax planning. A sidebar explains that, according to an IRS ruling, there’s no stepped-up basis when using an intentionally defective grantor trust.
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New lease accounting standard is here (for real this time)
Summer 2022
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Although its implementation has been long delayed, a new accounting standard applicable to leases under Generally Accepted Accounting Principles is now in effect. The changes could affect financial ratios that lenders and sureties use to evaluate a construction company. This article explores the details of the new lease accounting standard. A sidebar urges contractors to look for “embedded leases” that they might be unaware of.
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M&A deal structure: Basics for buyers and sellers
April / May 2014
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Every M&A deal is unique, but they all involve one or a combination of three basic structures: stock purchase, asset sale or merger of companies. Making the wrong choice could lead to negotiation difficulties and tax disadvantages and could even prevent a deal from closing. This article explains the basics of each type of structure and the pros and cons for both buyers and sellers. A sidebar focuses on each structure’s tax advantages and disadvantages.
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2013 might be a good year to gift your dealership
May / June 2013
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: The American Taxpayer Relief Act of 2012 (ATRA) finally brought some certainty to estate planning — so dealers might now consider this a good time to gift ownership interests. But this article points out actions to be taken before coming to any conclusions. It’s necessary to look at one’s tax position and the dealership’s value. Dealers who want to retain control can consider a family limited partnership (FLP) or family limited liability company (FLLC). A sidebar discusses the benefits of a grantor retained annuity trust (GRAT).
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Do you know the ABCs of ACOs?
Winter 2013
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Although occupying only a brief seven pages of the Patient Protection and Affordable Care Act of 2010, the Accountable Care Organization (ACO) provision has stimulated much interest and attention. As ACOs proliferate, they carry the potential to make profound changes in physician practices. This article discusses how ACOs work, noting that different models offer different levels of benefits and risks.
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Tax deal resolves fiscal cliffhanger
January / February 2013
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 918
On Jan. 1, Congress passed the American Taxpayer Relief Act of 2012 (ATRA). This article offers highlights of the law’s individual tax provisions. It looks at changes in income, capital gains, estate and gift tax rates, deductions and exemptions. It also discusses the alternative minimum tax and the extension of a number of tax breaks for individuals. A sidebar lists several business tax break extensions, as well.
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Adjustments needed? — Common considerations when evaluating financial statements
Winter 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Because of their distinctive characteristics, companies account for financial results in different ways — even when conforming to Generally Accepted Accounting Principles (GAAP). As a result, appraisers must decide whether to adjust a company’s financial statements to estimate its fair market value. This article takes a closer look at specific categories of adjustments, including accounting methods and control issues. A sidebar warns against double-counting an interest’s lack of control in regard to interrelated valuation components.
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Can’t afford estate taxes? Get an intrafamily loan
November / December 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: If an estate consists primarily of closely held business interests, real estate or other illiquid assets, it may not have the liquidity it needs to pay estate taxes and other expenses. Life insurance is one option, but another is to borrow the necessary funds. This article shows how borrowing can reduce estate taxes, and notes the requirements for an estate to be able to deduct interest. It also shows how to ensure that an intrafamily loan is a bona fide loan in the view of the IRS. A sidebar offers a real-life example of a loan that did not pass muster.
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Get a grip on internal controls
February / March 2011
Newsletter: Commercial Lending Report
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Understanding borrowers’ control systems is an important part of loan due diligence. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) lists five components of internal controls. This article discusses them, along with what to look for in management letters. Specifically, a sidebar points out that such letters must include “material weaknesses” and “significant deficiencies” in internal controls unearthed during audit procedures.
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Home is where the tax savings are – How joint home purchases can reduce estate taxes
March / April 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: When buying a home, the first financial consideration many people think of are the income tax benefits. But there are other important tax-saving opportunities that should be considered. This article explores one strategy — which is buying a home jointly with a family member — and how it can remove the home’s value from one’s taxable estate.
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Prep time given – IRS suspends the examination of accounting for certain inventory costs
January / February 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: After years of many auto dealerships accounting for the costs associated with their inventories in ways the IRS considered improper, the agency has issued new instructions to its examiners on how to assess dealership compliance with Internal Revenue Code (IRC) Section 263A. In light of the accounting changes dealers may need to make to comply, the IRS has suspended examination on Sec. 263A issues during audits until Jan. 1, 2011. But this does not apply to examinations begun before Sept. 15, 2009.
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Education savings – Making the most of your 529 plan
July / August 2009
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Many are discovering that their 529 college savings plans have taken a hit in the current economic downturn. You can’t change the past, but you can make the most of the present situation. Depending on your investing time frame, you may be able to use market conditions to your advantage. Also, as a sidebar explains, recent legislation has expanded the kinds of higher education expenses that are covered. Even if you choose to close an account, you may be eligible to claim a loss on your income tax return.