July
Showing 49–64 of 64 results
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Combined business and vacation travel
July 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 371
Abstract: If a business trip within the U.S. includes some vacation days, some of the expenses can be deducted. The question is how much. This article explains how to allocate business vs. personal expenses.
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Avoiding an inadvertent termination of S corporation status
July 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: An inadvertent termination of a company’s S corporation status can mess up even the best tax planning intentions. This article offers some important considerations and suggestions to help avoid an inadvertent loss of the company’s qualification to be treated as an S corporation. It discusses the 100-shareholder limitation and excessive passive investment income, among other considerations.
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IRS phone scam warning
July 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 320
Abstract: The IRS has issued a warning about a pervasive phone scam. The Treasury Inspector General for Tax Administration (TIGTA) called it the largest scam of its kind. In it, the thief poses as an IRS agent and makes an unsolicited call to the target, telling the victim that he or she owes taxes to the IRS. The caller demands that the victim pay the money immediately with a preloaded debit card or wire transfer, and often threatens the victim with arrest, deportation, or suspension of a business or driver’s license. This article explains tactics that these scammers use and tactics the IRS does not use, and explains what to do in response to such a call.
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Getting around the $25 deduction limit for business gifts
July 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 610
Abstract: Sometimes doing business entails making gifts to customers, clients, employees, and other business entities and associates. For numerous reasons, such gifts often make perfect business sense. Unfortunately, the tax rules limit the deduction for business gifts to a less-than-generous $25 per person per year — a limitation that hasn’t been raised in decades. But this article offers a quick rundown of some major exceptions to the $25 limit.
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Tax calendar
July 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 209
Abstract: This article lists a number of key tax reporting deadlines through September.
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Do you need to adjust your federal income tax withholding amount?
July 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 450
Abstract: With over half the year already gone, now is a good time for taxpayers to check to see if they are on track to have about the right amount of federal income tax withheld from their paychecks for 2014. Underpaying taxes can result in a penalty, and overpaying is basically making an interest-free loan to the government. This article points to a location on the IRS website that can help taxpayers make this calculation.
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Comparing taxable vs. tax-exempt investment yields
July 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 353
Abstract: With rising tax rates, some taxpayers are considering allocating at least a portion of their investments to tax-exempt investments. When comparing taxable investments to tax-exempt investments, one important factor is the after-tax return. This article offers a fairly straightforward formula that can be used to compare yields for taxable vs. tax-exempt investments if one’s income tax bracket is known.
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Residential energy credit
July 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 308
Abstract: One way to control the cost of home energy use is to make one’s home more energy efficient. Better still when those energy-saving improvements qualify for a federal tax credit. The Nonbusiness Energy Property credit (Residential Energy credit) has been available since 2006 and was recently extended through 2013. This article explains what the credit covers.
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Tax impact of investment strategies
July 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: Higher 2013 income and capital gains rates and the new 3.8% net investment income tax may cause high-income investors to reexamine their investment strategy. The type of account, taxable or tax-deferred (for example, qualified retirement plan), could affect the investment strategy in a number of ways. This article lists strategies for both tax-deferred and taxable accounts, and notes where to hold fixed-income investments and where to hold equity investments.
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New in-plan Roth rollover provision
July 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 156
Abstract: A provision in the American Taxpayer Relief Act of 2012 permits an individual to transfer any portion of their balance in an employer-sponsored tax-deferred retirement plan account into a Roth IRA account under that plan. This brief article notes some caveats, though.
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Tax calendar
July 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 209
Abstract: This article lists third-quarter deadlines for filing certain tax documents, along with descriptions of the necessary procedures.
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The marriage penalty
July 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 543
Abstract: The marriage penalty occurs under the current tax system when a married couple pays more federal income tax when filing jointly than they would if they had remained single and each filed as an individual taxpayer. Historically, Congress has taken steps and passed legislation to provide relief from the marriage penalty. However, the 2010 Affordable Care Act and the American Taxpayer Relief Act of 2012 (ATRA) increased the marriage penalty for some high-income couples. This article takes a look at how this legislation adversely impacts married taxpayers.
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MRD reminder
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 67
Abstract: This one-paragraph article reminds taxpayers turning age 70½ that they’ll be required to take their first minimum required distribution from a traditional IRA.
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Deferring taxable gain with a like-kind exchange
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 460
Abstract: Nontaxable exchanges of real estate give taxpayers an alternative to taxable dispositions and can provide federal income tax benefits. This article lists situations in which nontaxable like-kind exchanges should be considered, offering a specific example of one such instance: when a taxpayer wants to generate retirement income.
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2013 HSA limitations
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 198
Abstract: Health Savings Accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small to medium-size companies who do not have access to health insurance. This brief article explains how an HSA works and provides 2013 figures for deducibles, out-of-pocket expenses, and tax deductions.
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Charitable donations of publicly traded securities
July 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 500
Abstract: Taxpayers with appreciated securities positions may be able to save on federal taxes by donating the actual securities (for example, stocks) held more than one year (long-term gain securities) to a qualified charity rather than selling the securities and donating the cash proceeds. This article explains why, and offers a specific example. But it notes that planning is essential in determining when to donate appreciated stock.