2023
Showing 49–64 of 460 results
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Tax Calendar
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 293
Abstract: This calendar notes important tax deadlines for the fourth quarter of 2023.
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State taxes affect business sales, too
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 306
Abstract: Business owners sometimes decide to put their companies on the market. When doing so, they may focus on the federal tax implications of a sale. But there will be state tax implications, too. This brief article touches on some key issues regarding state taxes.
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Don’t get carried away by a windfall
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 372
Abstract: Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get carried away by a windfall and end up in worse financial shape. This article points out some of the pitfalls and how to avoid them, as well as what to expect in terms of taxes.
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The deductibility of medical expenses
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 399
Abstract: Individual taxpayers may be able to claim medical expense deductions on their tax returns. However, the rules can be challenging, and it can be difficult to qualify. This article offers up five points to keep in mind about the deductibility of medical expenses.
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Do you run a business from home?
October 2023
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 531
Abstract: Many people who began working from home during the COVID-19 pandemic are still doing so, full or part-time. Business owners who moved their operations to a home office, or at least began performing some work functions there, may be able to claim home office expenses against their business income. This article describes how to qualify for home office deductions and the two methods owners can choose from to claim this tax break.
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Estate Planning Red Flag – You have a holographic will
November / December 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 323
Abstract: Aretha Franklin died more than five years ago, but it wasn’t until this year that a Michigan jury gave her estate planning wishes some respect, holding that a handwritten document discovered under her couch cushions was a valid will. This case illustrates the dangers of so-called “holographic” wills. This brief article details the court case and explains the pitfalls of holographic wills.
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Form over substance – Documenting charitable donations is critical
November / December 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: Taxpayers who itemize deductions are entitled to deduct charitable donations, subject to certain requirements and limitations. One of the requirements is the need to substantiate charitable gifts with documentation that satisfies the tax code and IRS regulations. This is an area where the IRS takes a “form over substance” approach. This article details how to properly substantiate cash and noncash donations.
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Preserve wealth for future generations with a spendthrift trust
November / December 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 614
Abstract: For some people, protecting their wealth after it’s been transferred to beneficiaries is just as important as reducing the tax liability on the transfers. Attaching spendthrift language to a trust can provide peace of mind that one’s hard-earned wealth won’t be frivolously spent by heirs or seized by their creditors. This article explains the ins and outs of a spendthrift trust.
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Basis points – How planning can minimize the impact of income taxes
November / December 2023
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax. Although there were income tax advantages to retaining assets in an estate, the estate tax costs usually eclipsed any potential income tax savings. But things have changed: Between 2001 and 2023, the federal gift and estate tax exemption soared from $675,000 to $12.92 million. The highest estate tax rate dropped from 55% to 40%. Today, only the wealthiest of families are exposed to estate tax liability, elevating the importance of income tax planning. This article details the differences between income and estate tax planning. A sidebar explains that, according to an IRS ruling, there’s no stepped-up basis when using an intentionally defective grantor trust.
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Are PPP funds includable in business income for valuation purposes?
November / December 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: The Paycheck Protection Program (PPP) was enacted during the pandemic to help struggling businesses cover operating costs incurred while they were temporarily forced to shut down. This article summarizes a recent divorce case in which the Vermont Supreme Court upheld a decision allowing PPP funds to be included in income for business valuation purposes. Griggs v. Griggs, No. 22-AP-186 (Vt. Sup. Ct. March 10, 2023).
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How financial experts can help in bankruptcy
November / December 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 548
Abstract: There’s been a wave of business bankruptcies in 2023. Companies facing financial distress may find relief by assembling a team of experienced advisors to mitigate losses and, if possible, take corrective measures. This article highlights the role a financial professional can play in reorganizations, sales and liquidations.
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11th Circuit: Plaintiff entitled to damages for future lost profits
November / December 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 654
Abstract: The U.S. Court of Appeals for the 11th Circuit in WL Alliance, LLC v. Precision Testing Group, Inc. upheld a jury award of $3.3 million, including $1.6 million in damages for lost future profits. The article summarizes why the appellate court upheld the district court’s decision to reject the defendants’ argument that lost future profits weren’t recoverable because they were too speculative. WL Alliance, LLC v. Precision Testing Group, Inc., No. 22-10780 (U.S. Court of Appeals, 11th Cir., Dec. 21, 2022).
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ES NPA Holding, LLC v. Commissioner – Tax Court finds arm’s-length sale was best evidence of value
November / December 2023
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 905
Abstract: A U.S. Tax Court case recently addressed the issue of whether a taxpayer received a capital interest or a profits interest in a partnership for services provided to the partnership. Capital interests are immediately taxable, while profits interests generally are tax-deferred. This article summarizes this case, which concluded that the characterization of the taxpayer’s interest depended on the partnership’s fair market value. A sidebar provides ideas to bridge the gap between the seller’s asking price and the buyer’s offer price. ES NPA Holding, LLC v. Commissioner, T.C. Memo. 2023-55.
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Are PPP funds includable in business income for valuation purposes?
November / December 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: The Paycheck Protection Program (PPP) was enacted during the pandemic to help struggling businesses cover operating costs incurred while they were temporarily forced to shut down. This article summarizes a recent divorce case in which the Vermont Supreme Court upheld a decision allowing PPP funds to be included in income for business valuation purposes. Griggs v. Griggs, No. 22-AP-186 (Vt. Sup. Ct. March 10, 2023).
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How financial experts can help in bankruptcy
November / December 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 548
Abstract: There’s been a wave of business bankruptcies in 2023. Companies facing financial distress may find relief by assembling a team of experienced advisors to mitigate losses and, if possible, take corrective measures. This article highlights the role a financial professional can play in reorganizations, sales and liquidations.
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11th Circuit: Plaintiff entitled to damages for future lost profits
November / December 2023
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 654
Abstract: The U.S. Court of Appeals for the 11th Circuit in WL Alliance, LLC v. Precision Testing Group, Inc. upheld a jury award of $3.3 million, including $1.6 million in damages for lost future profits. The article summarizes why the appellate court upheld the district court’s decision to reject the defendants’ argument that lost future profits weren’t recoverable because they were too speculative. WL Alliance, LLC v. Precision Testing Group, Inc., No. 22-10780 (U.S. Court of Appeals, 11th Cir., Dec. 21, 2022).