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Tax Cuts and Jobs Act update – Big changes for 2022 and beyond
Summer 2022
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: It’s been four years since the Tax Cuts and Jobs Act (TCJA) was signed into law, but it’s still having an impact. Several provisions take effect this year and next. This article provides a brief overview of research and development (R&D), bonus depreciation and business interest deduction changes, and their implications for many manufacturers. A brief sidebar expands on the R&D updates.
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Succession planning – Planned liquidations have varying tax consequences
Summer 2020
Newsletter: On-Site
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: Under some circumstances, the most expedient and beneficial way to end the existence of a company is through a planned liquidation. This article explains how the tax consequences of such a move vary depending on business structure. A sidebar discusses the fact that many other entities besides the IRS may need to be informed about a planned liquidation.
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Could the NIIT apply to the sale of your home?
March / April 2014
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: The 3.8% net investment income tax (NIIT) continues to create confusion. One aspect of the NIIT (also known as the Medicare contribution tax) that’s widely misunderstood is its impact on the sale of a home. The NIIT is not a sales tax. It applies, if at all, only to profits from a home sale, not to gross proceeds. And it doesn’t apply to profits eligible for the Internal Revenue Code Section 121 home sale exclusion. Certain home sales are subject to the NIIT, however. This article looks at how the NIIT applies to home sales (with a sidebar offering an example) and suggests strategies for minimizing the tax.
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Cash: A contractor’s best friend – Cash flow forecasting can keep the relationship going strong
September / October 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: Many construction business owners may see cash flow forecasting as either a distraction from day-to-day activities or as a daunting, implausible undertaking. But getting a clearer picture of where a company’s dollars are going isn’t as difficult as one might think. This article shows how to estimate earnings with front-loaded billing schedules, and then, with data from estimated billing schedules and projected general operating expenses, to forecast cash flow in the near future. A sidebar lists five cash flow killers that can be prevented.
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Finding stability amid uncertain estate tax law – Defined-value gifts can limit tax exposure
June / July 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: It’s likely that Congress will overhaul the estate tax regime this year. But regardless of what happens, it makes sense to explore strategies for minimizing gift taxes. One strategy that can be effective is the defined-value gift, which can limit gift tax exposure by providing that any excess value go to a charity or other gift-tax-exempt recipient. The IRS isn’t a fan of these gifts, but they recently have gained approval in the courts, as explained in a sidebar.
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Presto, chango! – Turning prevailing wages into employee benefits
November / December 2009
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: As contractors vie for new public works projects, the prevailing wage — the minimum wage contractors generally are required to pay employees working on projects initiated by public agencies — is getting more attention. For each job, the prevailing wage is divided into a minimum basic hourly rate and a fringe benefit amount. Although contractors are required to pay their employees the base rate in cash, the fringe benefit portion can be paid in cash or in the form of a “bona fide” benefit plan. To avoid the complexities, it may be a little easier for a business to pay the entire prevailing wage in cash, but it’s much more expensive. This article shows why, while a sidebar discusses the documentation needed in the event of a Department of Labor audit of a prevailing wage plan.