1088
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Snatching tax relief from a revenue defeat – A review of the net operating loss rules
August / September 2014
Newsletter: Trendlines
Price: $225.00, Subscriber Price: $157.50
Word count: 1088
Abstract: Even in an improving economy, a business can find that its operating expenses and other deductions for a particular year exceed its income — otherwise known as incurring a net operating loss (NOL). Under the Internal Revenue Code, a corporation or individual may deduct an NOL from its income. But it’s essential to carefully follow the rules. This article discusses how an NOL may be carried back or forward and whether AMT liability can be offset with NOLs just as regular tax liability is. A sidebar looks at how a company’s chosen business structure can notably complicate the application of NOL rules.
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How do you hold title to your assets? – The answer could affect your estate plan
August / September 2009
Newsletter: Trendlines
Price: $225.00, Subscriber Price: $157.50
Word count: 1088
Abstract: The manner in which you own — or “hold title” to — your assets can have a big effect on how and whether those assets are passed on to your heirs according to your wishes. But there are three key ways to hold title assets, each of which could affect the feasibility of your estate plan: joint tenancy with the right of survivorship; an irrevocable life insurance trust; and a credit shelter (or “bypass”) trust. A sidebar notes current and potential changes in the estate tax exemption.
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Energy tax incentives – A conservation plan for your tax bill
July / August 2009
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1088
Abstract: Over the last few years, Congress has created a variety of tax incentives for individuals and businesses that invest in energy-efficient appliances, cars, equipment and buildings. This year’s stimulus bill — the American Recovery and Reinvestment Act of 2009 (ARRA) — expands many of these incentives and makes them even more valuable. But most of the energy tax breaks are temporary. So if you want to take advantage of them, begin planning now. This article explores tax breaks for individuals and businesses, including those related to home improvement and alternative energy. A sidebar warns that not every investment you make in energy-saving products and materials will necessarily qualify for a tax break.