947
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Planning an exit strategy for your business – Tips to maximize value and minimize taxes
Winter 2023
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: Every business owner should have an exit strategy that helps recoup the maximum amount for his or her investment. Understanding the tax implications of a business sale will help the owner plan for — and, in some cases, reduce — the impact on a tax bill. This article focuses on selling a business to a third party and provides some considerations to help ensure the transition is as smooth as possible. A short sidebar covers whether an employee stock ownership plan (ESOP) might be a viable exit strategy if the business is organized as a corporation and the seller isn’t interested in leaving it to family or selling to an outsider.
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Year end tax strategies for contractors
Fall 2013
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: Tax planning is particularly important this year because 1) individual income tax rates are higher, 2) several tax breaks are scheduled to expire at the end of this year, and 3) new taxes, especially the 3.8% Medicare surtax on net investment income, require special attention. This article discusses all of these items, while a sidebar explores whether it’s advisable for some construction companies to convert to a C corporation to reduce their tax bills.
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Do you know the impact of the 2010 estate tax repeal on your estate plan?
April / May 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: On Jan. 1, 2010, a one-year repeal of the federal estate tax went into effect, throwing many estate plans into disarray. The repeal also applies to the generation-skipping transfer (GST) tax, while the gift tax lives on with a top rate of 35% (10 percentage points lower than in 2009) and a $1 million lifetime exemption (the same amount as in 2009). This means that many estate plans might not meet their objectives; income tax bills could increase and transfers to trusts could be affected. So, while the future of the estate tax remains uncertain, it’s critical to review one’s estate plan to assess the impact of the current tax laws and to prepare for what the future might bring.
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Don’t lose out on rental real estate losses
March / April 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: If a person owns rental properties, there’s a good chance at least one of them is generating a loss. But the passive activity loss (PAL) rules can make it difficult to deduct those losses. If rental real estate is a significant activity, it pays to review the situation to determine whether one meets the IRS’s definition of “real estate professional.” This article explains some of the circumstances in which one may qualify and how it might be possible to convert passive losses into nonpassive losses, creating substantial tax benefits.
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Finance and insurance – Internet presence, compliance summon management response
November / December 2008
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: Two major issues that promise to affect dealership Finance and Insurance (F&I) departments in 2009 are Internet presence and regulatory compliance. This article discusses both the opportunities and the challenges that these areas provide.
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A schedule’s a schedule – Abiding by a recovery schedule is key to preserving legal rights
March / April 2008
Newsletter: Construction Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: No matter what’s being built, a schedule’s a schedule. And a court can use a recovery schedule to justify early default termination of even the biggest of contracts. This article looks at a recent case involving household names such as McDonnell Douglas, General Dynamics and, last but not least, the U.S. Navy, that provides ample evidence of this. McDonnell Douglas v. United States, 76 Fed. Cl. 385 (2007).