2010
Showing 193–208 of 657 results
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Don’t break the rule – The transfer-for-value rule can trigger income tax liability
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 578
Abstract: If a person wants to keep a life insurance policy they already own out of their taxable estate or to achieve other planning goals, it may make sense to transfer the policy for “valuable consideration.” But income tax traps exist. So before making such a transfer, it pays to become familiar with the transfer-for-value rule. This article looks at what the rule entails, and how easily it can be to fall prey to it.
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What have you got to lose? – Year end tax planning for investment and retirement accounts
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 696
Abstract: As year end approaches, it’s smart for investors to review their situation and consider strategies that can minimize capital gains tax and use capital losses to their tax advantage. This article looks at the taxation of short- vs. long-term gains, the impact of the wash sale rule on sales of investments, and the tax treatment of retirement savings.
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Global positioning – Planning helps avoid international tax surprises
September / October 2010
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 1140
Abstract: Technological advancements have made global markets accessible to even the smallest businesses. But this doesn’t mean doing business internationally is easy. In fact, it’s a complex process that requires a company to establish the necessary infrastructure, develop an understanding of foreign cultures, and prepare for a new tax environment. But careful tax planning can help businesses set up international operations in a manner that minimizes worldwide taxes and maximizes cash flow. This article looks at corporate structure, income tax withholding and credits, and indirect taxes, while a sidebar discusses the interest charge–domestic international sales corporation (IC-DISC).
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Would you, should you, reuse an appraisal?
September / October 2010
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 471
Abstract: A business appraisal provides a snapshot of a company’s value on a specific date and for a specific purpose. Although it may be tempting to reuse old valuations to save time and money, recycled valuations may cause more problems than they solve. This article uses a hypothetical case study to illustrate the potential drawbacks of reusing an old appraisal for a different purpose.
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Estate of Black: Another notch in taxpayers’ FLP belts
September / October 2010
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Family limited partnerships (FLPs) are proven estate planning tools. But the IRS sometimes attacks a partnership’s discounts or business purpose under Internal Revenue Code Section 2036, “Transfers with retained life estate.” This article notes the importance of proper FLP structure, explaining that when the IRS succeeds in proving that the donor or decedent retains ongoing economic benefit — either express or implied — it assesses gift and estate taxes for the full value of the partnership’s underlying assets without allowing discounts for lack of control and marketability.
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Great expectations: Finding the value of startups
September / October 2010
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 791
Abstract: It’s difficult to value a startup business when it has no track record and has never generated positive cash flow — or even revenues. Without history to lead the way, startups often derive value from exceptional growth expectations. This article explains that valuators know how to spot the clues, including management style, business type, market size, potential growth opportunities and development stage, which can help them more accurately estimate future performance. A brief sidebar explains that employee stock options (ESOs) can be an effective way for startup companies to attract and retain key employees.
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Transaction databases can be powerful tools
September / October 2010
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1007
Abstract: Appraisers use the guideline merger and acquisition method, a subset of the market approach, to derive a company’s value using samples of comparables (or guideline companies). To do so, they frequently refer to several private transaction databases to select appropriate comparable transactions. This article lists some of these database sources and points out some of their pros and cons. In addition to noting several criteria valuators use to collect a manageable sample of strong comparables, the article discusses how valuators calculate appropriate pricing multiples. A sidebar looks at other factors they typically consider.
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Reap the benefits of early case assessment
September / October 2010
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: Attorneys can help clients manage their litigation costs, particularly those related to e-discovery, with early case assessments (ECAs). This article walks through the steps involved in an ECA and discusses how it can help facilitate cost savings. It may seem counterintuitive for an attorney to advise performing an ECA that, ultimately, could limit his or her role in a case. However, clients that know their attorney is fiscally conscious are more likely to be satisfied and return with other legal matters.
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Theory into practice: Benford’s Law finds financial fraud
September / October 2010
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: Benford’s Law is a relatively old statistical precept regarding the frequency of certain numbers in random data sets. But only in recent years has it become effective in detecting fraud, thanks to technological advances. This article explains how, informed by Benford’s Law, fraud experts use spreadsheet software to identify questionable numbers and suspicious activities. Often, experts spot possible financial manipulation that would be invisible to the naked eye.
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Gift and estate taxes – Backing up valuation discounts
September / October 2010
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 721
Abstract: Regardless of whether tax rates and exemptions change, valuation discounts probably will continue to play a significant role in the ultimate tax liabilities that taxpayers shoulder. Establishing the appropriate discounts can prove complicated, though, particularly when dealing with interests that don’t have a ready market. This article examines the tools valuators use to address this problem, such as discounts for lack of marketability, restricted stock studies, pre-IPO studies, and lack-of-control or minority discounts.
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IRS addresses employment-related settlements and judgments
September / October 2010
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 888
Abstract: As attorneys litigate and settle an increasing number of employment-related lawsuits, certain questions related to the taxability of settlements and judgments commonly arise. A recent IRS memo may clarify some matters for both sides in employment disputes. This article looks at income and employment tax consequences of employment-related settlements and judgments, including the allocation of funds and treatment of back pay and attorneys’ fees. A sidebar shows how to determine the components of a settlement or judgment.
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Effective whistleblower procedures pay off
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 415
Abstract: In its 2010 study of occupational fraud, the Association of Certified Fraud Examiners reported that three times as many frauds in the study were uncovered by a tip as by any other method. So it pays to go beyond mere compliance and establish a comprehensive complaint-handling process. The procedures should make it easy for employees to make reports, but it’s also essential to follow up, even when tips don’t pan out.
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New IRS schedule would require tax uncertainties disclosure
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 503
Abstract: The Financial Accounting Standards Board’s Financial Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, is part of a trend toward greater financial transparency and accountability. However, it’s been of limited value to the IRS, because it requires disclosure of only aggregate amounts, not itemized details about uncertain tax positions. So, for certain large corporations, the IRS plans to mandate even more detailed disclosures —in essence, ask that companies provide it with a roadmap for identifying potential tax return weaknesses.
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What to do when your stock options are underwater
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 591
Abstract: Although the economy is gradually improving, many public companies’ stock prices remain depressed. In some cases, stock options held by key employees are “underwater” — their exercise price exceeds the stock’s current fair market value. Some companies have responded to the problem by repricing underwater options. But companies considering such a move need to obtain shareholder approval and consider other potential risks and costs.
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How effective is your audit committee?
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 974
Abstract: In the eight years since the Sarbanes-Oxley Act came into being, the audit committee has become directly responsible for appointing, compensating and overseeing external auditors and preapproving auditors’ audit and nonaudit services. Given this critical role, the audit committee should be evaluated periodically. One way is for the committee to perform annual self-evaluations. This article discusses the benefits and risks, along with ways to reduce the downside. A sidebar looks at common approaches to self-evaluation.
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News for Nonprofits – Tax credit for health insurance coverage
August / September 2010
Newsletter: Nonprofit Agendas
Price: $225.00, Subscriber Price: $157.50
Word count: 405
Abstract: This issue’s “News for Nonprofits” looks at a new, refundable, health care insurance tax credit that can benefit smaller nonprofits. It discusses one consulting firm’s findings that 33% of donations to charities’ own Web sites failed to go through, and provides tips on lowering unrelated business income tax (UBIT).