General & Family Business
Showing 17–32 of 1050 results
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Substantiating business expenses: A primer
October / November 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 473
Abstract: Businesses can generally deduct their “ordinary and necessary” business expenses. But even a legitimate expense isn’t deductible unless it’s adequately substantiated. This article explains that, typically, substantiation requires proof of payment and evidence showing the character and deductibility of the expenditure. It notes, though, that if a business is unable to fully substantiate an expense, the courts have some leeway to approximate deduction amounts, provided the business presents sufficient evidence to support an estimate.
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Are college scholarships and grants taxable?
October / November 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 617
Abstract: With students headed back to campus, college finances are on the minds of many parents. This includes parents of students who have received scholarships and grants. Obviously, these funds help relieve some of the burden of paying for college. But many parents might be wondering whether they’re taxable. This article highlights a number of different factors that may determine the answer to that question, including whether the scholarship or grant funds are being used to pay for qualified education expenses or for optional expenses.
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Revenue strategies – How to maintain cash flow in a volatile economy
October / November 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 710
Abstract: Most business owners know that sustaining a steady cash flow through the ups and downs of economic cycles is key to a business’s long-term success. But when they’re coping with an unpredictable economy and the many complexities of running a business, it’s easy for business owners to forget — or diminish — the importance of maintaining strong cash flow. This article reviews the cash flow cycles, including sales and disbursements, and notes the importance of incorporating data-tracking software into businesses’ accounting systems.
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Approaching age 65? Watch out for Medicare pitfalls
October / November 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: Americans who plan to work beyond the traditional retirement age of 65 need to begin planning for Medicare early to avoid costly pitfalls. Planning is particularly critical if their employers offer Health Savings Accounts (HSAs). This article explains the basics of how Medicare works and lists several issues to be aware of, including late enrollment penalties and loss of HSA deductions. A sidebar discusses the potential pitfalls of the six-month lookback period.
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Two emergency options for retirement plan participants
August / September 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 612
Abstract: Qualified plans such as 401(k)s are meant to help individuals save for retirement in a tax-advantaged manner. But, under dire circumstances, it may become necessary to tap into the nest egg early. This article explains that while doing so may result in additional income tax liability and penalties, the SECURE 2.0 Act, which was signed into law in late 2022, provides not one, but two options for people who find themselves in an emergency situation.
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Give employees a head start – Look at starter 401(k) plans and other retirement savings options
August / September 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 569
Abstract: The recent SECURE Act 2.0 has created a provision establishing the “starter 401(k) plan.” This article explains that the starter 401(k) plan is designed to be easier and less expensive to launch and administer than a traditional 401(k) plan. It summarizes how starter 401(k) plans work and notes that employers can begin offering them for plan years starting after December 31, 2023. It also highlights several other SECURE 2.0 provisions that can help employers offer retirement plans to employees.
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Making a change: Choosing a new successor for your family business
August / September 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 683
Abstract: Deciding on the right person to take over the reins of a family business can be a difficult job. And the decision may be even more complex when one or more of the candidates come from within the family itself. If a business owner has a certain person in mind but, for various reasons, that chosen successor gradually, or sometimes suddenly, fades as the optimal choice, this article explains that it’s usually best to handle the matter with great care. This article suggests several strategies for ensuring a smooth and successful succession.
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Retirement planning – Is a QCD right for you?
August / September 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 980
Abstract: Those 70½ years old or older may benefit tax-wise by transferring qualified charitable distributions (QCDs) directly from their IRAs to qualified charitable organizations. This article points out that a QCD counts as a required minimum distribution (RMD) for tax purposes without resulting in tax liability. The article looks at the ins and outs of using QCDs, while a sidebar offers a detailed list of the new QCD rule changes under SECURE Act 2.0.
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How can you mitigate the tax impact of R&E expenses?
Summer 2023
Newsletter: Management & Tax Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: Businesses with significant research and experimentation (R&E) expenses need to review those expenses and evaluate their R&E tax strategies as a result of an amendment to the Tax Cuts and Jobs Act (TCJA). This article explains that currently, the amendment requires R&E expenses to be capitalized and amortized over five years (15 years for research activities conducted outside the United States). It points out that, though a legislative solution remains a possibility down the road, for now businesses are stuck with the capitalization requirement and should evaluate its impact on their tax bills.
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How to use stock options to recruit — and retain — employees
Summer 2023
Newsletter: Management & Tax Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 647
Abstract: In an economy where the unemployment rate continues to be low, businesses are left with a conundrum: How can they hire and retain the best possible staff when potential job candidates have a wide range of positions to choose from? This article explains that to attract the highly skilled and motivated people a business needs to succeed, thinking beyond salary and benefits is key. It notes that one strategy to consider is to offer stock options as an incentive.
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The pros and cons of opening a self-directed IRA
Summer 2023
Newsletter: Management & Tax Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 648
Abstract: Individual Retirement Accounts (IRAs) are one of the most popular tools used by Americans to save money for retirement. However, IRAs have limitations when it comes to the different ways to invest retirement savings. This article highlights a special type of IRA that lets individuals hold alternative investments in their retirement accounts: the self-directed IRA (SDIRA).
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Keeping up with interest rates – Try these estate planning strategies when interest rates rise
Summer 2023
Newsletter: Management & Tax Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 926
Abstract: The success of many estate planning techniques is tied to interest rate levels. Some vehicles — such as grantor retained annuity trusts, charitable lead annuity trusts and intrafamily loans — work best when interest rates are low. Others, such as charitable remainder trusts and qualified personal residence trusts, become more effective as interest rates rise. This article points out that, due to recent interest rate increases, now may be a good time to consider estate planning vehicles that offer the greatest potential when interest rates are higher.
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New law delays RMDs for some retirees
June / July 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 483
Abstract: Thanks to the new law passed at the end of 2022 — commonly known as the SECURE 2.0 Act — it may be possible for those in their late 60s or early 70s to delay taking required minimum distributions (RMDs) from IRAs and qualified retirement plans like 401(k)s. This gives individuals even more time to build up tax-deferred retirement savings. This article also points out that, if an individual fails to take RMDs in time, the new law significantly reduces the applicable tax penalty.
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Steady as she goes – Use a buy-sell agreement to stay afloat during turbulent times
June / July 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 775
Abstract: In this volatile and unpredictable economic environment, businesses may be forced to go through many transitions as they continue to maintain operations. Business owners keep their operations running smoothly by seeking any possible methods for reducing risk — and maintaining stability and profitability going forward. This article offers one common-sense approach to consider: establishing a buy-sell agreement. It notes that even if a business already has an agreement, it’s a good idea to review it periodically in light of ongoing changes to the business or ownership.
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Steps to take before — and after — a layoff
June / July 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 765
Abstract: In the first two months of the year, hundreds of technology companies announced layoffs, up from a handful a year earlier. It’s unclear what, if anything, these layoffs portend, or whether they’ll have a ripple effect on other industries. But for those employed in an industry facing headwinds or hearing talk of reorganization, this article suggests that there are several steps these employees can take to blunt the potential financial impact of being laid off. Those steps include reviewing their finances, reviewing health insurance and maintaining an emergency savings fund.
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Need a retirement plan? Keep it SIMPLE
June / July 2023
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 897
Abstract: Business owners who recently started a new venture — or expanded an existing one — may be looking for a qualified retirement plan to help attract and retain top-notch workers as well as saving for their own retirements. This article notes that while there are several options, a Savings Incentive Match Plan for Employees (SIMPLE) could be a good fit. As the name implies, the design is simple and reporting is minimal. In addition, the new SECURE 2.0 Act enhances the benefits for certain plan participants.