May
Showing 33–48 of 56 results
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Need a do-over? Amend your tax return
May 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 221
Abstract: Many taxpayers feel a sense of relief after filing their tax returns. But that feeling can turn sour if, soon after, one realizes that a key detail has been overlooked or additional information that should have been included in the return is received. This brief article covers the process of amending a tax return.
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Disclosure of foreign accounts: 4 facts about FATCA
May 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 392
Abstract: The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers who have interests in “specified foreign financial assets” to provide information to the IRS. This article offers four facts about FATCA, such as which assets need to be reported and who might be exempt from the law’s requirements.
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Don’t forget depreciation breaks for your company’s real property
May 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 493
Abstract: Business owners hear plenty about depreciation-related tax breaks. But, often, such discussions focus only on the tax benefits of buying assets such as heavy equipment, office furniture and computers. This article offers up a detailed reminder that the Internal Revenue Code also allows depreciation breaks for a company’s real property.
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Juggling family wealth management is no trick
May 2016
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 553
Abstract: Preserving and managing family wealth requires addressing a number of major issues. Juggling these competing demands is no trick. Rather, doing so requires a carefully thought-out family wealth management plan. This article describes many of the foundational aspects of such a strategy.
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IRA rollovers
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 281
Abstract: An IRA rollover occurs when a taxpayer receives a distribution from one IRA and within 60 days deposits the assets into another IRA. This transfer to the receiving IRA is called a rollover contribution. A one-rollover-per-year rule used to apply on a per-IRA basis. However, starting in 2015, it applies to an individual’s IRAs in the aggregate. This article explains the details and why trustee-to-trustee transfers are preferable.
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Taxation of college financial aid
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: A variety of types of student financial aid are available: for example, scholarships, fellowships, grants, work-study arrangements and student loans. But the economic characteristics of financial aid, rather than how it is titled, will determine its taxability. This article explores tax law as it applies to the various forms of aid.
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Reporting a name change
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 121
Abstract: The names on a tax return must match Social Security Administration records. This article explains what to do in the event of a name change.
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Filing 2014 foreign bank and financial account reports
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 267
Abstract: The Bank Secrecy Act may require those who have a financial interest in or signature authority over a foreign financial account exceeding certain thresholds to report the account yearly to the IRS. This article explains the procedures for doing so.
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Tips on handling a will
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 204
Abstract: This article offers a list of things to consider regarding wills, including consulting an attorney, storing the will in a safe place, and including provisions for alternate dispositions of property.
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Deducting business bad debts
May 2015
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 477
Abstract: If debt collection is a problem for a business, deducting uncollectible (bad) debts from its tax bill may somewhat lessen the sting of simply writing the debt off its books. This article discusses what constitutes bona fide debt and describes two types of bad debt deductions: business and nonbusiness.
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Taxing Social Security benefits
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: Some taxpayers must include up to 85% of their Social Security benefits in taxable income, while others find that their benefits are not taxable at all. Those who receive income from other sources may have to pay taxes on at least a portion of their Social Security benefits. Income and filing status will also affect whether these benefits are taxable. This article offers a quick way to find out if one’s benefits may be taxable and how to avoid tax time surprises by voluntarily requesting that federal income tax be withheld from benefit payments.
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Dirty Dozen tax scams for 2014
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 81
Abstract: This article notes that the IRS has released its latest annual list of the “Dirty Dozen,” the twelve most common scams that taxpayers encounter. Topping the list in 2014 is tax fraud using identity theft.
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Avoiding penalties on IRA withdrawals before age 59½
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: IRA owners can withdraw money from their account at any time and for any reason because the owner is in total control of this account. But most withdrawals from traditional IRAs will be at least partially taxable, and the taxable portion of a withdrawal made before age 59½ will be subject to a 10% penalty tax (or as high as 25% on early withdrawals from a SIMPLE IRA). There can even be a 10% penalty tax assessed on a nontaxable portion of some early withdrawals from Roth IRAs. However, this article notes that there are some ways to avoid the penalty tax.
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Taxable tip income
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 175
Abstract: Tips received on the job from customers must be included in the computation of one’s tax liability, if any. This article explains the different kinds of tips that are taxable and what tips must be reported to one’s employer.
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Don’t be a charity scam victim
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 160
Abstract: When a natural disaster strikes, thieves often play on the goodwill of people by posing as representatives of real charities to steal money or get information to commit identity theft. This article describes how bogus charities use several different tactics to get money and information from unsuspecting individuals.
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Taxing a child’s investment income
May 2014
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 271
Abstract: Some children who receive investment income are required to file a tax return and pay tax on at least a portion of that income (and possibly at the parents’ marginal tax rate). This is often referred to as the kiddie tax. But it cannot be computed accurately until the parents’ income is known. This article discusses tax rules that affect how parents report a child’s investment income.