The Edge
August 2011 | Volume 4 Issue 5
Know Tax Angles to Lifetime Gifts: New law encourages family transfers
Due to recent tax law changes, you may want to consider giving generous gifts to other family members. The gifts can reduce the size of your taxable estate. Here is a brief overview of the basic rules.
Five Steps to Improve Business Security: Sensible ways to protect your company
Some small businesses are facing a big problem: security issues. In today’s fragile economy, losses sustained due to nonexistent or inadequate security measures could severely damage a small company and even jeopardize its very existence. Fortunately, taking action now to shore up your business security may provide sufficient protection for the future. Here are five steps for business managers to follow:
New Law Repeals Tough Reporting Rules: Relief granted to business owners and landlords
Responding to a loud public outcry, Congress has repealed tough new 1099 reporting requirements for businesses that were supposed to take effect in 2012. The new federal legislation, called the “Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011,” was signed into law by the president on April 14, 2011.
Facts and Figures: Timely points of particular interest
Pumped-up Deduction—The standard mileage rate for qualified business drivers was set at 51 cents per business mile (plus tolls and parking fees) for 2011.
June 2011 | Volume 4, Issue 4
22 Business Deductions You Might Overlook: List of tax-deductible business expense items
If you own or manage a small business, you are probably well aware that you can deduct the ordinary and necessary expenses of operating the business. But did you know that the definition of “ordinary and necessary” business expenses comprises a lot more than the usual laundry list of personal computers, staplers and labor costs?
Q’s and A’s on Section 529 Plans: How to help pay for college education
Section 529 plans may provide significant benefits to cash-strapped parents who intend to help pay for their children’s college education. Here is a quick Q-and-A session on this intriguing option.
12 Common E-mail Mistakes to Correct: Avoid potential problems in the workplace
Are you making the same mistakes that have plagued business people for years? Here are an even dozen common e-mail errors and how to avoid them.
May 2011 | Volume 4, Issue 3
Tax Angles to Capital Gains and Losses: New law extends favorable capital gain rules
The tax rules for offsetting capital gains and losses can be confusing, even for experienced investors. Saving grace: The new 2010 Tax Relief Act extends favorable tax treatment for long-term capital gains. This latest extension lasts through 2012.
How to Reduce Cash Outflows: Sensible ideas for small-business owners
The flow of cash leaving your business can be a major concern during this economic slump. Of course, this is a sensitive matter, because you do not want to jeopardize long-standing relationships with suppliers or clients. With that in mind, here are several ideas to consider.
Seven Ways to Protect Your Identity: Helpful steps to thwart identity theft
Identity theft occurs when someone uses another party’s personal information — typically, a person’s name, Social Security number or credit card — without authorization. The information may then be used to commit fraud or some other crime. Recent occurrences involving identity theft have been well documented by the media.