Tax / Estate & Wealth Planning
Showing 113–128 of 2177 results
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Tax Tips – QCDs expanded
May / June 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 364
Abstract: These brief tips detail how SECURE 2.0 enhances the use of qualified charitable distributions; explore potential tax pitfalls of renting property to family; and explain how starting in 2024 employers can set up emergency savings accounts for certain employees.
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Steer clear of these 5 estate planning pitfalls
May / June 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 498
Abstract: Among many other things, an estate plan can help ensure one’s family will be taken care of per his or her wishes after death. While no one likes to contemplate his or her own mortality, for those ready to begin the process of drafting an estate plan, this article provides five pitfalls to avoid.
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Are new business start-up costs deductible?
May / June 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 677
Abstract: Many new businesses were formed by people who found themselves unemployed in the early months of the pandemic or by entrepreneurs who saw business opportunities in the remote working environment. Although the surge has leveled off a bit, the current rate of new business creation remains substantially higher than before the pandemic. Starting a new business isn’t cheap, and many expenses are incurred long before the business officially opens. This article answers frequently asked questions about deducting start-up costs for federal income tax purposes.
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SECURE 2.0 – New tax benefits for retirement savers
May / June 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 963
Abstract: The long-awaited SECURE 2.0 Act, enacted at the end of 2022, expands on the improvements made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). Now individuals can save more and save longer for retirement, at a lower tax cost. This article details the highlights of the new law. A sidebar explains which provision of SECURE 2.0 requires a technical correction due to a drafting error.
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Estate Planning Red Flag – You revised your will by hand
May / June 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 273
Abstract: The laws regarding the execution of a valid will vary from state to state, but typically they require certain formalities. These may include signing the will in the presence of witnesses and a notary public. But what happens if a major life change necessitates a change? To avoid the time and expense associated with formally updating a will, it may be tempting to simply make the change by hand and initial it. This brief article explains why that is almost always a bad idea.
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Providing for your children – Should you use one trust or separate trusts?
May / June 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: One of the most effective ways to provide for one’s children in an estate plan is to set up trusts for them. Many parents’ estate plans call for their assets to be split into equal shares and used to fund a separate trust for each child. But, depending on one’s circumstances, it may be preferable to pool assets into a single “pot” trust. This article details how a pot trust works and lists its benefits.
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Update your will with a codicil
May / June 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: On the completion of a will, a person generally knows that there would come the day when he or she would need to make a change. Perhaps the person recently welcomed a new grandchild to the family or maybe went through a divorce. Whatever the case, after a major life change, the will may need a quick fix. This article explains how a person can update his or her will with a codicil.
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SECURE 2.0 provides a boost to your retirement and estate plans
May / June 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1029
Abstract: The SECURE 2.0 Act of 2022 expands on the changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019. Enacted in late 2022, SECURE 2.0 can help people save more for retirement, which, in turn, can provide more wealth to share with their loved ones. This article examines the highlights of SECURE 2.0. A sidebar explores how the new law affects Section 529 plans.
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Tax Calendar
April 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 188
Abstract: This calendar notes important tax deadlines for the 2nd quarter of 2023.
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Is your withholding adequate? Here’s how to check
April 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 278
Abstract: Many people are distressed to find they owe money when they file their federal tax returns. When that happens, taxpayers might want to change their withholding so that it doesn’t happen again the following year. Another reason to consider adjusting withholding is when a taxpayer gets a big refund, which essentially means the government got a tax-free loan of the taxpayer’s money.
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Be prepared for taxes on Social Security benefits
April 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: No one likes surprises when filing a tax return. One thing that catches many older people off guard is getting taxed on their Social Security benefits. This article explains how taxpayers can calculate provisional income to determine whether their Social Security income is indeed subject to taxation.
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Offering summer job opportunities? Double-check child labor laws
April 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: Spring has sprung — and summer isn’t far off. For businesses that typically hire minors for summer jobs, it’s a good idea to brush up on child labor laws. The U.S. Department of Labor’s Wage and Hour Division recently announced that it’s stepping up efforts to identify child labor violations in the Salt Lake City area. The news serves as a good reminder to companies nationwide about the many details involved in employing children.
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Thinking about converting your home into a rental property?
April 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 615
Abstract: In some cases, homeowners move to new residences, but keep their present homes and rent them out. Homeowners who are considering this are probably already aware of the financial risks and rewards of doing so. However, they should also know that renting out a personal residence carries potential tax benefits and pitfalls.
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Estate Planning Pitfall – You haven’t coordinated beneficiary designations with your will
April / May 2023
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 284
Abstract: Often an individual will draft a will that references retirement plan accounts and life insurance policies. But what happens when the designated beneficiaries listed in the will don’t match those listed in the paperwork on file with the applicable financial institutions? This brief article explains that the beneficiary designations in the financial documents supersede those listed in the will.
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Does your estate plan account for generation-skipping transfer tax?
April / May 2023
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 618
Abstract: If an estate plan calls for making gifts to grandchildren or other loved ones more than one generation below, it must address not only gift and estate tax, but also generation-skipping transfer (GST) tax. This article explains how the GST tax exemption works and lists three scenarios that can trigger GST tax liability.
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Glossary of estate planning terms
April / May 2023
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 697
Abstract: Estate planning has a language of its own. While some may be familiar with common terms such as a will, a trust or an executor, they may not be as certain about others. This article provides a glossary of terms a person is likely to come across in his or her estate planning documents.