May / June
Showing 401–416 of 621 results
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Weight vs. admissibility – Court allows lost profits expert testimony
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 508
Abstract: When an opposing party in a lawsuit challenges the admissibility of an expert’s testimony, the matter often comes down to one of two interpretations: whether the court believes the party’s arguments go to the admissibility or to the weight of the evidence. This article examines a federal district court ruling that illustrates such determinations and highlights the need to present relevant expert testimony.
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How accurate are corporate earnings reports?
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 515
Abstract: This article reviews a recent academic research report that provides valuable insight into earnings manipulations. Such manipulations potentially could affect damages calculations and other legal matters. The report explains what constitutes high-quality earnings and notes red flags that can help detect earnings misrepresentations.
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When one employee holds the key to business value
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 639
Abstract: A company’s earnings and cash flows can suffer significantly when an executive or other critical employee leaves. To account for this risk, professional valuators may apply a key-person discount. These discounts don’t apply to all business appraisals and they’re rarely one-size-fits-all. This article discusses several questions valuators ask that are specific to the subject company and its key employees.
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IRS victory highlights the importance of careful estate planning
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 812
Abstract: This article discusses a recent case in which the IRS attacked a family limited partnership (FLP) for being an invalid partnership under state law. The IRS lost that argument. Ultimately, however, it was the decedent’s estate planning that undermined the FLP, thus handing the IRS another win in its long-running campaign against FLPs. A sidebar notes that the estate did prevail on whether some cash transfers that the FLP made were loans or gifts for federal gift tax purposes.
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Restructuring your debt — Construction companies can keep it together
May / June 2012
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 1009
Abstract: Some construction companies have gone under these past few years, while others have lost substantial business or taken on heavy debts. But, for those in the latter category, there are ways to keep it together. This article explains the difference between “canceled” debt and “charged off” or “written off” debt and how to stretch out payments via cancellation of debt (COD) income. It also explores swapping debt for equity and explains how to work with creditors. A sidebar discusses why, for many contractors, finding a way to restructure debt is preferable to declaring bankruptcy. Recommended Article
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Forensic investigations – How phased engagements control costs, scope
May / June 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 787
Abstract: A phased engagement breaks down the scope and time frame of a forensic accounting investigation into steps, which are predetermined by the attorney, client and accountant. As this article discusses, each stage comes with its own set of deliverables, making it easier to manage time and costs. Results are based on limits, also of the attorney’s design, which keep the investigation process from going on longer than it needs to. (Updated 8/31/12)
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On your mark, get ready, sell
May / June 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1059
Abstract: The biggest financial transaction in a private business owner’s life is likely the sale of his or her business. Although many sales are premeditated, others result from unplanned events, which is why it’s essential for owners to have an exit strategy. This article explains how valuators can help entrepreneurs plan their exit strategies, whether sale is imminent, unexpected or a long-term goal. (Updated 7/31/12)
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Estate Planning Red Flag — You’re lending money to family members
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 377
Abstract: The simplest way to provide financial assistance to a child or other family member is to get out the checkbook and make a gift. But for those concerned about gift taxes, a loan may be preferable. Intrafamily loans must be structured and managed carefully to ensure that the IRS will treat them as bona fide loans rather than disguised gifts. This article explains that the U.S. Tax Court has identified seven factors to consider in determining whether a loan between related parties is legitimate.
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The conservation easement: Handle with care
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 722
Abstract: A conservation easement is an agreement to permanently restrict some or all of the development rights associated with a property. It can be a powerful estate planning tool, enabling donors to receive significant income and estate tax benefits while continuing to own and enjoy their property. So it’s no surprise that the IRS scrutinizes easements to ensure that they meet the tax code’s requirements. This article explains that the easement must meet one of four conservation purposes, describes the tax benefits, and lists common mistakes taxpayers make when donating easements.
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Are you familiar with fraudulent transfer laws?
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 704
Abstract: Because asset values are low and the gift tax exemption is high, now is a good time to transfer wealth. But it’s best to first check with an estate planning advisor about fraudulent transfer laws. This article explains that, if creditors challenge gifts, trusts, retitling of property or other strategies as fraudulent transfers, they can quickly undo an estate plan. Under the Uniform Fraudulent Transfer Act (UFTA), they can challenge transfers involving two types of fraud: actual and constructive. The latter is unintentional, yet can result in significant financial consequences.
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SCIN protection — Shield your estate from excessive tax exposure
May / June 2012
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1044
Abstract: Those who have already exhausted their gift and estate tax exemption through lifetime gifts can use other techniques to transfer wealth to their loved ones tax-free. One such technique that’s particularly attractive now is the self-canceling installment note (SCIN). This article explains how a SCIN can provide income, gift and estate tax savings. But it involves a gamble, as well, so the article discusses the down sides. A sidebar notes that, to ensure that a SCIN’s cancellation feature isn’t treated as a gift, the donor must be compensated for its value in the form of a risk premium.
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Tax Tips
May / June 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 452
Abstract: This issue’s “Tax Tips” looks at the tax implications of cross-border telecommuting; how to restrict distributions to a beneficiary through a trusteed IRA; and the importance of conducting a cost segregation study before certain asset acquisitions. Citations: Peco Foods, Inc. v. Commissioner, T.C. Memo. 2012-18 (1/17/2012).
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Make the most of real estate losses: Keep good records
May / June 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 533
Abstract: The passive activity loss (PAL) rules make it difficult for rental real estate owners to deduct their losses unless they qualify as real estate professionals. And that demands accurate timekeeping records. This article discusses the PAL rules and what’s required to qualify as a real estate professional. Citation: Vandegrift v. Commissioner (T.C. Memo 2012-14, 1/12/2012).
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How can an estate plan be kept vital after death?
May / June 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 878
Abstract: When a loved one passes away, one might think that the options for his or her estate plan have also been laid to rest. But that isn’t the case. There are postmortem tactics the deceased’s executor (or personal representative), spouse and beneficiaries can employ to help keep his or her estate plan on track. This article discusses qualified terminable interest property (QTIP) trusts; qualified disclaimers; exemption portability; the spouse’s right of election; special-use valuations; and alternate valuation dates.
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Deduct vs. capitalize — New regs offer guidance
May / June 2012
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1005
Abstract: When one is spending money on tangible business property — such as buildings and equipment — it’s important to pay attention to whether these expenditures are classified as maintenance or repair, for this can have a big impact on taxes. Sometimes, though, it’s hard to tell the difference between these types of costs. This article discusses new IRS regulations that provide guidelines on the improvement vs. repair question, taking into account special rules for buildings. A sidebar looks at whether deducting the costs of "refreshing" the appearance and layout of stores is permitted. Citation: Welch v. Helvering (290 U.S. 111)
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Ask the Advisor — Is structured financing right for me?
May / June 2012
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: Even in the tight credit market, many developers continue to seek financing in the form of debt and equity. But in some circumstances, it may be possible to combine different offerings from commercial capital markets, thus maximizing leverage and minimizing cash equity requirements. This article examines the benefits of structured financing, along with some critical considerations.