Focus
Showing 193–208 of 393 results
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What’s the tax impact of owning a vacation home?
Year End 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 419
Abstract: For the lucky ones who own a vacation home, it can be a place to relax and recharge with family and friends. However, it can also impact their taxes, especially if they rent the home to others when they’re not using it. This article explains the rules under various scenarios.
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Employee vs. independent contractor: Make sure you get it right
Year End 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 718
Abstract: Classification of workers as either employees or independent contractors has become a heated issue. In fact, the DOL and the IRS, as well as a number of states, are paying more attention to this issue. This article explains certain factors involved in classification, such as the extent to which the work performed by the worker is an integral part of the employer’s business and whether the relationship between the worker and employer is permanent or indefinite.
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How to stop micromanaging in your family business
Year End 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 551
Abstract: Family business owners often find it hard to not micromanage their employees. Both family-member and non-family-member managers can be prone to it. It’s natural to have strong financial and emotional ties to the business. But there comes a time when micromanaging can become a detriment to the employees and the company, harming morale and productivity. This article explains how to shift from a taskmaster mindset to a leadership one.
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Determining your life insurance needs
Year End 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 843
Abstract: When it comes to life insurance, it’s critical that the buyer know how it works and what it really accomplishes. This article offers tips on how to calculate the coverage and determine whether it requires term vs. permanent insurance. A sidebar offers tips on the tax impact of life insurance.
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4 ways to stay on top of your credit report
October / November 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 419
Abstract: Information in a credit report can influence the ability to obtain a loan or even a job. Unfortunately, these reports routinely contain mistakes. A 2012 study by the Federal Trade Commission found one in five consumers’ credit reports contained errors that were corrected by a credit reporting company after being disputed. This article discusses why taxpayers need to monitor their reports regularly.
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Got kids? Then you need a good tax advisor
October / November 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Although most tax planning focuses on adults — after all, they’re usually the ones with taxable income — minors also can be affected by taxes. This article discusses some of the issues that parents should become familiar with, such as the “kiddie tax,” certain tax implications of hiring one’s children and the merits of starting an IRA for teenagers.
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Know when you need to put a client out to pasture
October / November 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 706
Abstract: Many business owners go to great lengths to hold onto every client they have. But this article emphasizes that that can be counterintuitive. Determining individual customer profitability should be one’s first step when considering which customers to drop. If business systems track individual customer purchases and the accounting system has good cost accounting or decision support capabilities, this process will be simple.
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Be in the know when it comes to travel expenses
October / November 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 842
Abstract: When employees travel for work, they expect to be reimbursed for costs they incur. Developing a travel policy that dovetails with IRS regulations and is understood by workers can help prevent misunderstandings. This article examines accountable and nonaccountable reimbursement plans, travel policy guidelines and per diem reimbursements. A sidebar discusses updated criteria regarding the deductibility of local lodging.
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Tick tock – 4 ways you can beat the clock with time management
August / September 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: One resource limitation that all business owners face is time. Although science has yet to develop a way to add more hours to the day, it is possible to get more from each one. This article offers four ways to beat the clock, including prioritizing activities and communicating written goals.
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Want to benefit your loved ones? Consider split interest trusts
August / September 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: Charitable remainder trusts (CRTs) and charitable lead trusts (CLTs) are often referred to as “split interest” trusts because of their dual beneficial interests: They have the ability to not only benefit a qualified charity, but noncharitable beneficiaries as well. This article explains how they work.
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Joining the migration to EMV cards
August / September 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 587
Abstract: Many people haven’t yet heard the acronym “EMV,” or the term “chip card,” but it’s likely that they will soon. These payment tools are steadily taking hold in the United States. Eventually, they’ll replace the magnetic-stripe payment cards many of us now use. This article explains how a chip card may revolutionize electronic payments.
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The ins and outs of choosing a business structure
August / September 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 836
Abstract: Choosing the right structure for a company affects more than just the title on its business card. It also impacts how much the company pays in taxes, as well as its legal liability for debts incurred or business actions taken. Moreover, entity choice can change as a business grows, takes on more risk, and requires more capital and partners. According to the IRS, the most common business structures are sole proprietorships, partnerships, C corporations and S corporations. This article describes these, while a sidebar explains why LLCs are gaining attention.
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Bad news: IRA rollovers now limited to one per year
June / July 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 610
Abstract: Through the end of 2014, individuals with more than one individual retirement account (IRA) could take a distribution from an account and, so long as the funds were either rolled back into the same account or moved to another IRA within 60 days, they could be fairly confident that the transaction wouldn’t be taxed. What’s more, they typically could do a distribution-and-rollover from each of their IRAs, with none being taxed. But, that’s no longer the case. With a few exceptions, the IRS has limited IRA rollovers to one in each 12-month period, across all of an individual’s SEP, SIMPLE, traditional and Roth IRA accounts. This article explains the new rule.
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Is your company prepared for a disaster?
June / July 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: In the last year the United States has experienced multiple natural disasters, such as severe droughts in the West, flooding in the Midwest and, of course, the unbelievable snowstorms along the Atlantic coastline, which caused great anguish for business owners due to revenue shortfalls. As this article explains, all business owners must have a plan for protecting a company’s employees and assets.
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How an ABLE account can help those with disabilities
June / July 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 435
Abstract: Individuals with disabilities can take advantage of an important new savings tool. The Achieving a Better Life Experience (ABLE) Act of 2014 permits the establishment of what are known as ABLE accounts. These accounts provide a tax-advantaged way to save for qualified expenses and, subject to certain limits, typically won’t endanger eligibility for many means-tested federal programs, such as Medicaid. This article offers a summary of the provisions from the legislation.
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Are you uncertain about Uncertain Tax Positions?
June / July 2015
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 864
Abstract: This article notes that, starting with the 2014 tax year, corporations that have assets of at least $10 million and meet other filing requirements — such as filing audited financial statements or including UTPs in others’ audited statements — must file Schedule UTP (Form 1120), “Uncertain Tax Position Statement.” That’s a shift, as the UTP reporting rules were limited to companies with assets of at least $50 million for the 2012 and 2013 tax years. The expanding scope of UTP reporting is significant — in some cases it may increase the chance that a company will be audited. A sidebar explains when a Schedule UTP is not needed.