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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.
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Monitoring and managing interest rate risk
Winter 2023
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: For community banks, interest rate risk is a part of doing business, so banks need to monitor that risk and take steps to control it. This article notes that the “right” level of risk depends on several factors, including the size and complexity of a bank’s operations, as well as the sufficiency of its capital and liquidity to withstand the potential adverse impact of interest rate fluctuations. It also points out that managing interest rate risk is particularly important in light of recent rate increases.
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Discounting majority interests – Tax Court tackles valuation of real estate LLCs
March / April 2022
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: A recent U.S. Tax Court case addressed the valuation of majority interests in five real estate holding companies for estate tax purposes. This article summarizes how the court in Estate of Warne addressed the issue of valuation discounts for majority interests held by the estate and for fractional interests donated to charity. A sidebar explains how failure to consider external market conditions can be a potential pitfall when calculating economic damages. Estate of Miriam M. Warne, T.C. Memo. 2021-17 (February 18, 2021).
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Discounting majority interests – Tax Court tackles valuation of real estate LLCs
March / April 2022
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: A recent U.S. Tax Court case addressed the valuation of majority interests in five real estate holding companies for estate tax purposes. This article summarizes how the court in Estate of Warne addressed the issue of valuation discounts for majority interests held by the estate and for fractional interests donated to charity. A sidebar explains how failure to consider external market conditions can be a potential pitfall when calculating economic damages. Estate of Miriam M. Warne, T.C. Memo. 2021-17 (February 18, 2021).
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The proper care and feeding of your S corporation – Diligence required to avoid inadvertent termination and loss of tax benefits
March / April 2020
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: The S corporation continues to be a popular entity choice, combining the liability protection of a corporation with many of the tax benefits of a partnership. But these benefits come at a price: S corporations must comply with strict requirements that limit the number and type of shareholders, prohibit complex capital structures, and impose other restrictions. This article explains the requirements and advantages of an S corporation status and what needs to be done to avoid S corporation termination. A sidebar details IRS guidance on relief from an S corporation being inadvertently terminated.
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Partnerships: Get ready for new audit rules
July / August 2016
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: For partnerships, the new audit rules are a game changer. The rules apply to returns for partnership tax years that begin after December 31, 2017, including amended returns. The changes aren’t merely procedural; they substantially alter the taxation of partnerships, effectively imposing entity-level taxes on partnerships. This article details the new rules and includes a sidebar explaining the opt-out clause.
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Making the most of your company’s financial statements
April / May 2016
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: A company’s financial statements are the bellwether of its cash flow. Each report offers information regarding the financial position and performance of the business. Moreover, they can help one uncover potential money-management problems and fraudulent activity. This article looks at some of the intricacies of the balance sheet, income statement, and statement of cash flows. A sidebar notes the difference between the LIFO and FIFO inventory reporting methods.
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“Preprinted” may mean “precarious” – Failure to review key documents leads to payment disputes
July / August 2008
Newsletter: Construction Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 900
Abstract: In processing payments on construction projects, owners, architects, general contractors and subcontractors often rely on the language of preprinted forms to support their legal rights and, thus, fail to carefully review those forms. From a legal perspective, this kind of lack of attention to detail can be costly. This article describes a recent Utah case that provides a prime example of just how costly.