Tax & Business Alert
Showing 33–48 of 664 results
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Don’t get carried away by a windfall
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 372
Abstract: Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get carried away by a windfall and end up in worse financial shape. This article points out some of the pitfalls and how to avoid them, as well as what to expect in terms of taxes.
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The deductibility of medical expenses
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 399
Abstract: Individual taxpayers may be able to claim medical expense deductions on their tax returns. However, the rules can be challenging, and it can be difficult to qualify. This article offers up five points to keep in mind about the deductibility of medical expenses.
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Do you run a business from home?
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 531
Abstract: Many people who began working from home during the COVID-19 pandemic are still doing so, full or part-time. Business owners who moved their operations to a home office, or at least began performing some work functions there, may be able to claim home office expenses against their business income. This article describes how to qualify for home office deductions and the two methods owners can choose from to claim this tax break.
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Safeguarding your critical documents
September 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 228
Abstract: Every adult has a variety of critical documents that should be protected. This brief article discusses the importance of having a dependable safe or bank safe deposit box in which to store key documents, and even cash, in case of a major disaster.
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Plan ahead for Health Savings Accounts in 2024
September 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 378
Abstract: The IRS has released guidance that includes the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). This article lists the benefits, requirements, and contribution limits of HSAs for 2023 and 2024.
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Which business website costs are deductible?
September 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 507
Abstract: Nearly every business needs a website, but it’s not always easy to determine which costs of running one are deductible. Fortunately, there are guidelines, and even IRS guidance, to follow. This article discusses both the hardware and software costs associated with a website.
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An “innocent spouse” may be able to escape tax liability
September 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 547
Abstract: When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can pursue either spouse to collect the entire tax — not just the part that’s attributed to one spouse or the other. This includes any tax deficiency that the IRS assesses after an audit, as well as any penalties and interest. But there may be relief. A brief sidebar addresses what to do about future returns.
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Compiling a marital balance sheet in divorce
August 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 262
Abstract: Divorce is a difficult process for everyone involved. That’s why being clear and organized when it comes to finances can help facilitate the process. The first step is generally to compile a marital balance sheet. This brief article discusses this step and what it involves.
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A possible tax quirk of being a business partner
August 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 353
Abstract: Business partnerships may include situations that give the partners pause. This article explains that in any given year, the partners may have been taxed on more partnership income than was distributed to them. It notes that the cause of this quirk of taxation lies in the way partnerships and partners are taxed.
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Weighing the pros and cons of LTC insurance
August 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 490
Abstract: The COVID-19 pandemic and its aftermath have significantly affected our lives in many ways that are still playing out. For example, the pandemic has served as a reminder of how difficult an unexpected medical crisis may be to manage financially. This article explores the pros and cons of one potential safeguard against such risk: long-term care insurance.
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Your estate plan: Don’t forget about income tax planning
August 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: As a result of the current estate tax exemption amount ($12.92 million in 2023), many people are no longer concerned with federal estate tax. This article points out that before 2011, a much smaller dollar amount resulted in many people attempting to avoid estate tax. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for heirs. A sidebar briefly looks at certain exclusions or discounts.
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Tax Calendar
July 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 272
Abstract: This calendar notes important tax deadlines for the third quarter of 2023.
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Estimated tax payments: Who owes them and when is the next one due?
July 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 408
Abstract: Many people earn money during the year but don’t have any, or enough, federal tax withheld from the payments. Or they have taxable income from sources such as interest, dividends, self-employment income or capital gains. If that’s the case, they may need to make estimated payments, or risk triggering a penalty at tax time.
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Are scholarships taxable?
July 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 380
Abstract: If your child is awarded a scholarship for college or another type of school, it’s certainly cause for celebration. But parents need to be aware of the potential tax implications. This article explains when a scholarship may be taxable.
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Family businesses must beware of fraud
July 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 495
Abstract: Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as companies that are majority owned by a single family with two or more members involved in their management, family businesses can be a significant source of wealth. They may also face higher fraud risks. This article explains why that is true, and how family businesses can reduce the risks.
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Lost your job? Here are the tax aspects of an employee termination
July 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 583
Abstract: Despite the robust job market, some people are still losing their jobs. For those who are laid off or terminated from employment, taxes are probably the last thing they’re concerned about. However, they may face tax implications when personal and professional circumstances change, and there may be some decisions to make.