2018
Showing 177–192 of 630 results
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What happens to taxes in the gig economy?
August / September 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 609
Abstract: Gig workers accounted for 15.8% of workers in 2015, up from 10.1% in 2005, according to researchers at the National Bureau of Economic Research. And the percentage is only increasing. This article looks at the way gig workers pay taxes, which differs from the way they would as employees. Because an employer typically isn’t withholding money from paychecks to cover gig workers’ tax obligations, they’re responsible for making federal income tax payments and possibly for paying state income tax. This article looks at the ins and outs of gig workers’ tax responsibilities and emphasizes the importance of keeping accurate, timely records of revenue and expenses.
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Trust in a trust to keep assets secure
August / September 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 651
Abstract: Whether the economic climate is stable or volatile, one thing never changes: the need to protect assets from risk. That risk may occur as a result of factors entirely outside of owner control, such as the stock market or the behavior of heirs and creditors. This article points out that it’s wise to consider taking steps to mitigate the potential peril, including setting up a trust. The article explains that a trust can be a great way to protect assets. But to ensure the funds are unavailable to satisfy claims against the owner, the trust must become the owner of the assets and be irrevocable.
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New TCJA tax break may benefit your small business pass-through
August / September 2018
Newsletter: Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: A small business that operates as a pass-through entity may benefit from significant tax savings under the Tax Cuts and Jobs Act (TCJA). This article details the qualified business income (QBI) deduction and explains its limits. It also points out that, as with any new legislation that is this massive, it will take time for all the consequences to be fully understood, and that the IRS will likely issue regulations and guidance, such as reporting requirements and the allocation of items and wages. A sidebar offers an example that illustrates how to calculate the QBI deduction.
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Estate Planning Red Flag – Your charitable gifts are unrestricted
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 318
Abstract: If philanthropy is an important part of one’s legacy, he or she should consider taking steps to ensure that donations are used to fulfill the intended charitable purposes. This brief article explains how placing restrictions on a charitable gift can help ensure a charitable gift is used as the donor intended.
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Asset protection – A hybrid DAPT offers the best of both worlds
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 635
Abstract: If a person was concerned about personal liability, he or she might consider an asset protection trust to shield their hard-earned wealth against frivolous creditors’ claims and lawsuits. The benefit of a domestic asset protection trust (DAPT) is that it offers creditor protection even if the person is a beneficiary of the trust. But there are also risks involved. This article details why a “hybrid DAPT” might be a better option.
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Put pen to paper – A letter of instruction and a mission statement add clarity to an estate plan
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 589
Abstract: Legally binding documents, such as a will or living trust, spell out a person’s final wishes. But including a letter of instruction and a mission statement in an estate plan can go even further to help family members through a difficult period. This article explores what to include in a letter of instruction and a mission statement.
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Sec. 6166 – Estate tax relief for family businesses
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: Now that the gift, estate and generation-skipping transfer (GST) tax exemptions have more than doubled to an inflation-adjusted $11.18 million for 2018, fewer people are subject to transfer taxes than ever before. But these taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses. This article explains how Internal Revenue Code Section 6166 can provide relief. A sidebar discusses whether Sec. 6166 can be used with real estate businesses.
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COMPLIANCE ALERT
August / September 2018
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 87
Abstract: This feature lists a few key tax reporting deadlines for September.
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Do you know what to do with an SOC report?
August / September 2018
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 402
Abstract: Service organization control (SOC) reports come in several varieties. They generally pertain to service organizations, like retirement plan recordkeepers or third party administrators (TPAs). The American Institute of Certified Public Accountants (AICPA) determines the scope of each SOC report. This short article reviews the types of SOCs and the reason for their use.
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New rules affect disability benefit claim denials in retirement plans
August / September 2018
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 447
Abstract: Retirement plans (or other ERISA-regulated benefits, including nonqualified “top hat” plans) containing a disability benefit are affected by the new DOL rules that took effect in April 2018. The new regulations, in the works since 2015, pertain to disability claims and the processes governing appeals of a denial of disability benefits. This article reminds sponsors of 401(k) plans and defined benefit pension plans with disability benefits that they have until the end of this year to amend their plans to reflect the new rules.
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Keep your eye on the ball – Plan forfeitures must match plan document
August / September 2018
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 804
Abstract: It’s a routine matter for employees to forfeit retirement plan benefits. Even so, plan sponsors can’t afford to become blasé about it; ERISA demands more than an “easy come, easy go” attitude about the matter. This article reviews how plans can forfeit benefits and when benefits are forfeited. A short sidebar covers what plans can do with forfeited funds.
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Charging plan expenses to participants correctly
August / September 2018
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 852
Abstract: Shaving a few basis points off plan participants’ annual returns on their retirement plan accounts can put a significant dent in their asset accumulations by the time they’re ready to retire. For that reason, the question of which plan expenses are charged to participants, and which must be borne by the plan sponsor, is a critical issue to resolve correctly. Improperly allocating expenses to participants could be a serious fiduciary breach. This article summarizes the difference between administrative and settlor functions and which can be charged as plan expenses.
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Are you investing in leadership training?
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: Leadership training and development is a success factor that many dealerships often overlook. This article spotlights two main approaches to leadership training and development in the auto dealership industry: internal, which involves mentoring young leaders in-house, and external, which centers on an investment in formal leadership training.
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“Blue skies smiling at me” – How goodwill factors into a sale or acquisition
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: Like the sentiment in the 1926 Irving Berlin song “Blue Skies,” the accounting term “blue sky” — or “goodwill” — is a thing to be welcomed. And with mergers and acquisitions on the rise this year, it’s a good time for auto dealers to familiarize themselves with the terms. This article explains what goodwill and goodwill impairment mean, what GAAP requires and an alternative goodwill measurement method.
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Business options – Separate property ownership for possible advantage
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: Many car dealers choose to separate ownership of the building and real estate from the dealership itself. Doing so has many advantages related to liability protection, tax savings and succession planning, which this article explains.
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How data analytics can help improve used car operations
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 809
Abstract: The term “artificial intelligence” or “AI” may conjure up sci-fi images of robots and futuristic machines. But many businesses today, including auto dealerships, are using AI to obtain more accurate data and help owners and managers make better decisions. This article discusses the advantages of using data analytics to help improve used car operations through far-better-informed pricing. A sidebar highlights data analytics and VIN numbers.