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  • Uncertainty reigns – Estate tax repeal now a real possibility

    July / August 2017
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 948

    Abstract: Both President Trump and the Republican majority in Congress support elimination of “death” taxes, so there’s a good chance a bill to repeal the estate and generation-skipping transfer (GST) taxes will appear on the legislative agenda soon. But how will a repeal affect estate planning? This article discusses reasons why estate planning will remain essential and why dynasty trusts may begin to play a bigger role in planning strategies. A sidebar explains the pitfalls of using a formula clause.

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  • Construction accounting outlook – AICPA’s Audit Risk Alert raises red flags

    Spring 2015
    Newsletter: On-Site

    Price: $225.00, Subscriber Price: $157.50

    Word count: 948

    Abstract: As contractors strive to reach year end with sound financial statements and a healthy bottom line, it helps to know from where threats might arise. One trustworthy source of pertinent information is the latest Audit Risk Alert, Real Estate and Construction Industry Developments, produced by the American Institute of Certified Public Accountants. This article delves into a number of red flags, all of which may lead to material misstatements in financial reporting. A sidebar looks at three important accounting developments for those who follow GAAP.

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  • Do you have a liquidity plan?

    January / February 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 948

    Abstract: A liquidity plan is an essential component of an effective estate plan, particularly if a substantial amount of wealth is tied up in a closely held business, real estate or other illiquid assets. It won’t be possible to achieve estate planning goals without liquidity to pay estate taxes and other expenses. An irrevocable life insurance trust (ILIT) or buy-sell agreement are options; if these do not provide enough cash, borrowing from a bank or receiving an extension from the IRS may be alternatives. A sidebar to this article discusses Internal Revenue Code Section 6166, which allows an executor to defer estate taxes associated with a qualifying closely held business.

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  • Have assets you need to buy? Give these depreciation-related tax breaks a try

    July / August 2009
    Newsletter: Contractor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 948

    Abstract: Times are tight. If you need to buy assets but are understandably concerned about keeping expenses down, provisions of the American Recovery and Reinvestment Act of 2009 (ARRA) could help ease this tough decision. ARRA has extended both the 50% depreciation bonus and the Section 179 expensing deduction, which are especially advantageous when used together. A sidebar discusses the benefits of timekeeping software.

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