TXI
Showing 193–208 of 384 results
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Tax Tips – Beware the passive foreign investment company
November / December 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 445
Abstract: This issue’s “Tax Tips” provides information on passive foreign investment companies, how to deal with concentrated stock positions, and a Ninth U.S. Circuit Court of Appeals ruling that the mortgage interest deduction limit applies on a per-taxpayer basis, reversing a 2012 Tax Court decision.
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Solving the play-or-pay conundrum
November / December 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 655
Abstract: For 2015 and after, employers retaining at least a certain number of employees (generally 50 full-time employees or a combination of full-time and part-time employees) will be subject to the employer shared-responsibility provisions. Every employer will be affected in the sense that they’ll have to check annually to see whether their business and its health care benefits (or lack thereof) trigger consequences under the law. As this article explains, the key determinants are whether employers employ a “large” number of employees, and if they do, whether they’ll offer at least a “minimum value” of “affordable” health care coverage to full-time staff.
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Need a financial backup plan? Why you should consider a SLAT
November / December 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 517
Abstract: Perhaps the most effective estate-planning strategies involve the use of irrevocable trusts. If a marriage is strong, a spousal lifetime access trust (SLAT) allows the husband or wife to obtain the benefits of an irrevocable trust while creating a financial backup plan. This article notes that a SLAT is simply an irrevocable trust — which may be an irrevocable life insurance trust (ILIT) — that authorizes the trustee to make distributions to one’s spouse if a need arises. Like other irrevocable trusts, a SLAT can be designed to benefit children, grandchildren or future generations.
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5 last-minute tax-planning ideas
November / December 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: As 2015 winds down, there are certain tax planning ideas that taxpayers might want to check out, such as deferring income and accelerating deductions. This article describes these and other strategies, including harvesting investment losses, avoiding estimated tax penalties, donating to charity and being mindful of deduction limitations. A sidebar offers some tips on year end tax strategies for business owners.
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Tax Tips – Supreme Court decision may open door for refund claims
September / October 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 435
Abstract: This issue’s “Tax Tips” offers several important snippets of information, such as the possibility that the Supreme Court might open the door for refund claims. It also provides a warning to taxpayers regarding suspicious telephone callers, and notes that, if a business is structured as a C corporation, it should watch out for the accumulated earnings tax. This 20% penalty applies to corporations the IRS perceives to be retaining unreasonably high levels of earnings in order to avoid or defer taxes on dividends paid to shareholders.
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The ins and outs of tax breaks for getting to and from work
September / October 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 665
Abstract: Most workers and employers know that they generally can’t deduct the cost of commuting between home and work — that’s considered a personal expense. But there are certain situations in which commuting costs are deductible as transportation expenses. This article explains what the IRS considers to be commuting and the tax benefits to employers and employees.
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Pumping up retirement contributions – Cash balance plans
September / October 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 567
Abstract: With individual income tax rates at their highest levels in years, maximizing contributions to tax-deferred retirement vehicles is an important strategy. For business owners who got a late start saving for retirement, a cash balance plan can help turbocharge their contributions while allowing them to enjoy substantial current tax deductions. This article describes the differences between defined contribution plans and defined benefit plans.
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The PAL rules and estate planning – Can you reduce your trust’s tax bill?
September / October 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 862
Abstract: Trusts can accomplish a variety of estate planning goals, including wealth distribution, asset protection, estate and gift tax reduction, and probate avoidance. But taxpayers should not overlook their income tax treatment. By reducing a trust’s income tax bill, they can preserve more wealth for their heirs. This article covers a U.S. Tax Court ruling addressing material participation in regard to passive activity loss (PAL) rules, and how the court’s decision created new tax-saving opportunities for many trusts. A sidebar defines a “real estate professional.”
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Tax Tips – Reporting capital gains is easier than it used to be
July / August 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 399
Abstract: This edition of “Tax Tips” covers reporting capital gains, finding estate tax relief for family businesses and the ins and outs of cost segregation studies.
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Understanding the pros and cons of a SCIN
July / August 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 658
Abstract: Many estate planning techniques minimize or even eliminate gift and estate taxes when transferring assets to family members. Sometimes, the most powerful techniques will also have a significant drawback: mortality risk. A person must outlive the trust’s term to realize the benefits. Thus, a self-canceling installment note (SCIN) may be appropriate for anyone in poor health who isn’t expecting to reach his or her actuarial life expectancy. This article explains the pros and cons of this technique.
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Should you treat a partner as an employee?
July / August 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 569
Abstract: Offering employees an equity interest in a business can be a powerful tool for attracting, retaining and motivating quality talent. If the business is organized as a partnership, however, there are some tax traps that must be avoided. As this article explains, one must pay close attention to employment taxes, unvested profits interests, and employee benefits.
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Nonqualified options – How to report stock sales
July / August 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: The tax treatment of nonqualified stock options (NSOs) is quite simple. Unfortunately, filling out the IRS forms can be complicated — especially since recent rule changes went into effect. This article explains the ins and outs of NSOs. A sidebar explains how to correct previously reported basis.
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Tax Tips – Investors: Have your cake and eat it too
May / June 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: This issue’s “Tax Tips” examines what to look out for when selling a poor-performing security to “harvest” the loss and offset it against capital gains. It also discusses how an ABLE plan can assist disabled family members, and notes eligibility requirements for the Small Business Health Care Tax Credit.
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The IRS is watching – Understanding the difference between an employee and an independent contractor
May / June 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 665
Abstract: It’s an age-old conundrum: determining whether a worker is an employee or an independent contractor. While it might seem like a simple question, it’s not. And the IRS is hot on the heels of any contractor who doesn’t understand the difference. This article explains why the IRS prefers employee status.
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How you can avoid a huge tax trap – Beware of the generation-skipping tax
May / June 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 637
Abstract: Those planning their estate shouldn’t overlook the generation-skipping transfer (GST) tax. Despite a generous, $5.43 million GST exemption, complexities surrounding its allocation create several tax traps for the unwary, such as a 40% tax on transfers to “skip persons,” including grandchildren, family members more than a generation younger, and nonfamily members more than 37½ years younger, among other things.
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Roth or traditional: Which is better?
May / June 2015
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: Roth IRAs allow taxpayers to withdraw contributions and earnings tax-free, if they meet certain requirements, so it’s no surprise that their popularity has soared in recent years. But one shouldn’t write off traditional IRAs and 401(k) accounts just yet. This article explains why, under certain circumstances, traditional accounts may generate more retirement income than their Roth counterparts. A sidebar discusses the possibility that the benefits of “backdoor” Roth IRAs may be eliminated.