TXI
Tax Impact
Showing 1–16 of 392 results
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Tax Tips – Short-term rentals may offer tax-free income
March / April 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 413
Abstract: These brief tips explain how renting out a home on a short-term basis can yield tax-free income and examine the circumstances of when an individual might be eligible for a Medicare refund.
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Share your values with the use of an incentive trust
March / April 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 553
Abstract: Those who have worked a lifetime and built up a substantial amount of wealth may be uncertain about how family members will handle inheritances. This article details why incentive trusts may be the right vehicle to share one’s values with heirs.
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Considering home improvements? Tax credits can make going green easier
March / April 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 528
Abstract: Those planning improvements that will boost their homes’ energy efficiency should know about certain tax incentives that may offset some of the costs. The Inflation Reduction Act extended and expanded tax credits that reward homeowners who “go green.” This article explains the tax credits and details their rules and restrictions.
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Deducting business travel expenses: A refresher
March / April 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 995
Abstract: During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.
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Tax Tips – IRS delays Roth catch-up requirement for two years
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 300
Abstract: These brief tips explain a tax rule change regarding Roth account catch-up requirements; detail why taxpayers should still file a tax return even if they’re unable to pay the tax due; and explore whether individuals can deduct online sports betting losses.
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Saving made easy – Set aside funds for your children with custodial accounts
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 479
Abstract: A custodial account may be the answer for parents who are seeking a tax-efficient way to help their minor-aged child save for college or other expenses. This article examines two types of custodial accounts and details their pros and cons.
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Spotlight on transfer pricing rules
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 688
Abstract: If a business expands its geographical footprint beyond state or U.S. borders, it’s important to understand the transfer pricing rules. In a nutshell, transfer pricing refers to cross-border pricing arrangements for transactions between related companies (including parent and subsidiary or brother-sister companies with a common parent) in different jurisdictions. This article explains why these rules matter and how they’re regulated.
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Are you liable for net investment income tax? Learn strategies to reduce the risk
January / February 2024
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1031
Abstract: During the last several years, the 3.8% net investment income tax (NIIT) has ensnared a steadily increasing number of taxpayers. Why? Because when the tax was enacted 11 years ago it applied to “high earners” — defined as single filers with modified adjusted gross income (MAGI) over $200,000 and joint filers with MAGI over $250,000. Those thresholds have never been adjusted for inflation. As a result, the number of taxpayers liable for NIIT has more than doubled during that time. This article explains how the NIIT works and provides strategies to reduce it. A sidebar explores whether a Roth IRA conversion might reduce NIIT liability.
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Tax Tips – Take advantage of the 0% tax rate
November / December 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: These brief tips explore the value of taking advantage of the 0% capital gains tax rate; explain that qualified businesses can still claim the Employee Retention Tax Credit; and detail the option of requesting a corporate tax refund.
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Renting to relatives? Beware of the tax pitfalls of family member rentals
November / December 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 531
Abstract: If you own residential real estate, you may be considering renting it to family members. As rents continue to rise in many parts of the country, renting property at a discount to family members may seem like a good way to help relatives in need. But these arrangements are fraught with tax perils. A misstep can lead to the loss of significant tax deductions. This article reviews the tax treatment of rentals to unrelated parties and examines how renting to family changes the rules.
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Does a charitable remainder trust belong in your estate plan?
November / December 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 564
Abstract: When it comes to tax-saving strategies, sometimes the current economic and financial environment can make one strategy more effective than another. That’s certainly the case with a charitable remainder trust (CRT). Indeed, CRTs are generally more attractive when interest rates are higher — and the prime lending rate is currently at its highest level since 2001. This article details how a CRT works and why it can benefit a person’s estate plan.
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Year-end tax planning strategies for businesses
November / December 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: As 2023 comes to a close, now is a good time for businesses to consider year-end moves that can help reduce their tax bills. This article explores several year-end tax planning strategies for businesses to consider. A brief sidebar answers the question of whether companies can write off bad business debts.
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Tax Tips – Watch out for accumulated earnings tax
September / October 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 424
Abstract: These brief tips explain what triggers the accumulated earnings tax for businesses and detail state income tax liability for remote sellers.
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Even single people without children need an estate plan
September / October 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 574
Abstract: Estate planning is important for everyone. This is equally true for single individuals without children. While the law makes certain assumptions involving a married couple regarding financial and medical decisions should one spouse die or become incapacitated, that’s not necessarily the case with a single person. This article explains that without an estate plan, single individuals without children may be at greater risk of undesirable tax consequences.
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Cash vs. accrual – Choosing the right accounting method for business tax purposes
September / October 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 636
Abstract: Many businesses have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify, though some businesses may be better off using the accrual method. This article details why businesses should evaluate their tax accounting method to ensure that it’s the most advantageous approach.
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Do you have unused funds in your college savings plan? Consider a 529 plan-to-Roth IRA rollover
September / October 2023
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: Given the exorbitant costs of higher education, many parents begin saving for college when their children are very young. A popular and effective tool for doing so is a 529 plan. What happens when, 15 years into the future, there are unused funds in the account? This article explores the benefits of rolling over a 529 plan to a Roth IRA. A sidebar examines three additional options to redistribute leftover 529 plan funds.