2013
Showing 177–192 of 735 results
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New financial reporting options for small businesses
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: For those who own and run a small, privately held business, reporting financial performance usually means choosing between Generally Accepted Accounting Principles (GAAP) and special purpose frameworks, more commonly known as other comprehensive basis of accounting (OCBOA). In June, the American Institute of Certified Public Accountants introduced a new OCBOA called the “Financial Reporting Framework for Small- and Medium-Sized Entities” (FRF for SMEs). This article discusses how this differs from GAAP, and also looks at proposals made by the Private Company Council, charged with improving the process of setting accounting standards for private companies that prepare GAAP-based financial statements.
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The IRS offers a simpler home office deduction
October / November 2013
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 829
Abstract: Earlier this year, the IRS announced a simplified option, also known as the “safe harbor” option, for calculating the home office deduction. Taxpayers can use the new option in tax years that begin on or after Jan. 1, 2013. This article discusses how this simplified option differs from the regular method of calculating a home office deduction in several ways. However, some might save more tax by sticking with the regular method. And, as a sidebar explains, the home office deduction can be one of several that can trigger the alternative minimum tax.
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Typosquatting: Fraud’s new frontier
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: While most people have probably heard of cybersquatting, “typosquatting” may be less familiar. But these schemes — which take advantage of users’ tendency to misspell a domain name — can make just about any organization, along with visitors to its website, the victims of fraud. This article shows how typosquatting is used for fraud and corporate espionage.
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Patent infringement damages rejected for lost foreign sales
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 633
Abstract: The appropriate measure of damages for patent infringement remains hotly debated. This article examines one recent decision in which an appeals court addressed the availability of “worldwide damages” for lost sales. While the court found that direct infringement had occurred, it was unpersuaded by the argument that lost sales in foreign markets should have played a role in the original award, and remanded for a new trial on the damages.
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The foundation of everything – Standards of value can make or break an appraisal
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 686
Abstract: Every appraisal begins with a need — and meeting this need begins with establishing a standard of value. This article notes the differences between fair value and fair market value. It also looks at such concepts as investment value and intrinsic value and explains how valuation experts decide which standard to apply when performing a business valuation.
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Will the real buy-sell please stand up? Divorce courts don’t always accept these agreements
Fall 2013
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: Oversimplified or outdated buy-sell agreements sometimes come back to haunt divorcing shareholders. For divorce purposes, one cannot simply expect to value a private business interest using a valuation formula (or fixed price) set forth in the company’s buy-sell agreement. This article explains why it’s necessary to reconcile buyout formulas against values obtained using the cost, market and income approaches. A sidebar discusses factors that may influence whether a long-standing buy-sell agreement is still relevant.
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Estate Planning Red Flag – You don’t have the right succession plan for your family business
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 344
Abstract: This issue’s “Estate Planning Red Flag” discusses the situation of “Dave,” whose estate plan leaves his business to his wife and then to their son after her death. This article explains why this plan will likely lead to an enormous estate tax bill down the road, and shows how Dave might do things differently.
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International relations – Estate planning for noncitizens
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 705
Abstract: For U.S. citizens, the federal gift and estate tax rules are relatively straightforward: Citizens are subject to U.S. transfer taxes on their worldwide assets. They’re also entitled to a generous lifetime gift and estate tax exemption, an annual gift tax exclusion, and a marital deduction that allows spouses to transfer unlimited amounts of property to each other tax-free. For noncitizens, however, it’s more complicated. If a significant amount of their wealth is situated in the United States, their heirs may be facing a substantial estate tax bill. This article discusses the determination of situs and eligibility for the marital deduction and looks at options to minimize adverse tax consequences.
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Avoid probate to keep your estate private
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 634
Abstract: Circumventing the probate process is usually a good idea, because its public nature can lead to family disputes over asset distribution. But it’s possible to keep much (or even all) of an estate out of the probate process (and the public eye) by using the right estate planning techniques. This article describes several tools to avoid (or minimize) probate, but explains that, for larger, more complicated estates, a living trust (also commonly called a “revocable” trust) generally is the most effective tool.
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The GRAT: A limited time offer?
September / October 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 809
Abstract: The grantor retained annuity trust (GRAT) has long been a popular tool for transferring wealth while minimizing or even eliminating gift and estate taxes. GRATs are particularly effective when interest rates are low, as they are now. But Congress may soon reduce their firepower, so now may be the time to include one or more GRATs as part of an estate planning arsenal. This article explains how GRATs work and notes proposed tax changes that would limit their benefits. A sidebar offers an example of a GRAT in action.
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Why written job descriptions are so important
September / October 2013
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 808
Abstract: An employee with an eye injury was told he had to obtain medical clearance to continue in his current position or else find a different type of job within the company. When he did neither and was terminated, he sued, claiming he had not been offered a reasonable accommodation according to the terms of the Americans with Disabilities Act. To receive protection under the act, he needed to establish that he was qualified to perform the essential functions of his job. This article notes five primary points the appeals court considered — including the written description for the plaintiff’s job — in determining whether the job duty in question was indeed an essential function. Knutson v. Schwan’s Home Service, Inc., No. 12-2240, April 3, 2013 (8th Cir.)
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Scouts get burned by knotted training program
September / October 2013
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 660
Abstract: The danger of treating employees inconsistently is a recurring theme throughout employment law. This article discusses one case in which a Muslim executive in a local council of the Boy Scouts of America was recommended to participate in a professional development training program. But he wasn’t sent, while a Christian with similar qualifications was. In the lawsuit that followed, the appeals court found the council’s arguments unpersuasive. Aly v. Mohegan Council, Boy Scouts of America, No. 12-1292, March 22, 2013 (1st Cir.)
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How much is enough? Sexual harassment case turns on amount of evidence
September / October 2013
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 655
Abstract: To establish a hostile work environment claim based on sexual harassment, a plaintiff must show that he or she was subjected to verbal or physical conduct of a sexual nature that was unwelcome and sufficiently severe or pervasive to alter the conditions of his or her employment. But just how severe or pervasive must misconduct be to meet this standard? This article examines a case in which an appeals court acknowledged the plaintiff’s mistreatment, but decided that the small number of incidents presented didn’t amount to enough to establish a hostile work environment. Westendorf v. West Coast Contractors of Nevada, Inc., No. 11-16004, April 1, 2013 (9th Cir.)
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Exempt vs. nonexempt – Special investigators challenge insurer’s classification
September / October 2013
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 888
Abstract: This article examines a court case in which an insurance company’s investigators sued to be classified as nonexempt, believing that the company was taking advantage of their exempt status to avoid paying overtime. The court used a three-prong test in determining that the employees were indeed exempt. But the case shows why it’s important that employers carefully examine how an employee’s actual duties play into the company’s larger operations before deciding on an appropriate “exempt vs. nonexempt” classification. A sidebar looks at a similar case, in which the plaintiff argued that employees who spend less than 50% of their time on administrative functions don’t qualify as exempt. Foster v. Nationwide Mutual Insurance Company, No. 12-3107, March 21, 2013 (6th Cir.) Schaefer v. Indiana Mich. Power Co., No. 02-1401, Feb. 13, 2004 (6th Cir.) Altemus v. Federal Realty Investment Trust, No. 11-2213, July 31, 2012 (4th Cir.)
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Dealer Digest – COSO issues new guidelines for strong internal controls
September / October 2013
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: This issue’s “Dealer Digest” takes a look at new guidance finalized by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) regarding internal controls; legislative activity aimed at getting green car owners to pay annual taxes on their vehicles to support public highway maintenance; and one employee’s identity theft scam that should provide a warning to dealers everywhere.
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4 tips for turning around factory mistakes
September / October 2013
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 403
Abstract: When customers buy a new vehicle and discover a defect, it doesn’t matter if the flaw is the result of a mistake made at the factory — it’s the dealer that the customer will go to for a satisfactory solution. This is a pivotal point in the customer relationship, and might be the difference between saving — or even strengthening — the relationship and losing the customer for life. This article offers four tips for turning a bad situation into one that strengthens the customer-dealer relationship.