TXI
Showing 113–128 of 384 results
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Tax Tips – Exporters, does an IC-DISC still make sense?
March / April 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 437
Abstract: These brief tips detail how the Tax Cuts and Jobs Act has affected the interest-charge domestic international sales corporation (IC-DISC), discuss a U.S. Tax Court case involving related-party transactions, and explain the pitfalls of including S corporation stock in a trust.
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Getting your affairs in order when you’re terminally ill
March / April 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 316
Abstract: If a person receives the diagnosis of a terminal illness, likely the last thing on his or her mind is estate planning. But taking the time now to get affairs in order can provide one’s family peace of mind. This brief article details several actions to consider if time is short.
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Matters of interest – When are interest payments deductible?
March / April 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 748
Abstract: The Tax Cuts and Jobs Act has made a significant impact — both directly and indirectly — on the deductibility of interest expense. This article explores four categories of nonbusiness interest: qualified residence interest, investment interest, qualified student loan interest and personal interest.
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Qualified Opportunity Zones – A powerful tax incentive for investors
March / April 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 886
Abstract: Investors willing to make long-term investments in distressed communities now have a powerful tax incentive for doing so: the Qualified Opportunity Zone (QOZ) program, created by the Tax Cuts and Jobs Act. This article explains the QOZ program and how to make the most of its benefits. A brief sidebar uses a fictional example to explain the potential benefits of investing in a Qualified Opportunity Fund.
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Tax Tips – Employers can use 401(k) plans to help employees pay student loans
January / February 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 450
Abstract: These brief tips detail the IRS’s student loan repayment program that employers can provide to employees, examine the bills that may be included in Tax Reform 2.0 and explain the finalized regulations on the substantiation and reporting rules for deductible charitable contributions.
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Relax, but don’t forget about taxes – Owning a vacation home requires tax planning
January / February 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 663
Abstract: A vacation home can be many things to different people. However a family plans to use their vacation home, it pays to understand the tax rules regarding income and expenses associated with the property. This article explains the tax implications of owning a vacation home.
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BDIT lets you give away property without losing control
January / February 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 539
Abstract: To take advantage of the higher exemption amount under the Tax Cuts and Jobs Act (TCJA), many families that own businesses or other assets worth more than the pre-TCJA exemption amount are planning substantial gifts to their children or other loved ones during the next seven years. The drawback to gifting substantial assets is losing control of them. This article details the advantages of using a beneficiary defective inheritor’s trust in these situations.
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Are your business interest expenses deductible?
January / February 2019
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 902
Abstract: Before the Tax Cuts and Jobs Act (TCJA), most business-related interest expense was deductible, although corporations couldn’t deduct interest paid to or guaranteed by a related party under certain circumstances. But for tax years beginning after 2017, the TCJA imposes a limit on business interest deductions, with exceptions for “small businesses” and electing real estate and farming businesses. This article explains why all businesses should evaluate the impact of the new deduction limit on their tax liability, and plan accordingly. A sidebar discusses IRS Notice 2018-28, which provides interim guidance on several issues involving business interest expense and income.
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Tax Tips – Should you donate your car to charity?
November / December 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 442
Abstract: These brief tips explain why donating a car to charity may not be the most tax-efficient strategy, detail what to address in an estate plan for a college-age child, and discuss new IRS compliance campaigns that target specific business-related tax issues.
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GST tax exemption has increased, but not permanently
November / December 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 623
Abstract: One change affecting estate plans under the Tax Cuts and Jobs Act is that, for the estates of persons dying after December 31, 2017, and before January 1, 2026, the generation-skipping transfer (GST) tax exemption amounts increase to an inflation-adjusted $10 million, or $20 million for married couples with proper planning ($11.18 million and $22.36 million, respectively, for 2018). This article details how the GST tax works and what transfers are taxable.
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Got bitcoin? Understand your tax obligations
November / December 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 548
Abstract: The tax treatment of bitcoin and other “virtual currencies” — also known as “cryptocurrencies” — is widely misunderstood. But if one invests in virtual currency, uses it to pay for goods or services, or receives it as payment for goods or services, failure to understand the tax obligations can have serious consequences. This article explains the IRS policies regarding virtual currencies.
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Supreme Court’s Wayfair decision – What it means for Internet and mail-order sales
November / December 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 813
Abstract: In its much-anticipated decision in South Dakota v. Wayfair, the U.S. Supreme Court ruled, by a 5 to 4 margin, that a state may require out-of-state sellers to collect sales and use tax even if they lack a physical presence in the state. In reaching this result, the court overturned its landmark 1992 decision in Quill Corp. v. North Dakota. This article explains how the ruling affects businesses and their tax obligations. A sidebar explores whether other states will follow South Dakota’s lead in establishing similar sales thresholds to establish substantial nexus.
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Tax Tips – Yes, home equity loan interest may still be deductible
September / October 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 488
Abstract: These brief tips explain that home equity loan interest may still be deductible post–Tax Cuts and Jobs Act (TCJA), detail two changes the TCJA made to business losses, and discuss whether a qualified personal residence trust is still relevant today.
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Ease new itemized deduction limitations using a nongrantor trust
September / October 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 561
Abstract: Record-high exemption amounts mean that fewer families are affected by gift, estate and generation-skipping transfer (GST) taxes. As a result, the estate planning focus for many people has shifted from transfer taxes to income taxes. One tool that can be effective in reducing income taxes is a nongrantor trust, which offers a way around the new itemized deduction limitations imposed by the Tax Cuts and Jobs Act (TCJA). This article explains the role nongrantor trusts play in easing the itemized deduction limitations.
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Know your tax obligations before hiring household help
September / October 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: There are several reasons for hiring household help, including child or elder care or general cleaning and yard maintenance. However, when a person hires outside help, he or she becomes an employer. Thus, that person has specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance. This article examines the tax-related responsibilities associated with hiring outside help.
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Are LLC members subject to self-employment tax?
September / October 2018
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 906
Abstract: Ambiguity in the tax code and regulations has led many limited liability company (LLC) members to take an aggressive position regarding self-employment (SE) tax. They claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to the tax. Recently, however, the IRS has been cracking down on LLC members it claims have underreported SE taxes. This article provides a definition of SE taxes and examines whether LLC members must pay SE tax. A sidebar notes proposed regulations that contemplate situations in which an active LLC member can exclude certain amounts from self-employment income.