The Edge
September 2010 | Volume 3, Issue 4
Deciding About a Roth IRA Conversion: Consider all the relevant factors this year
Before you know it, the end of the year will be here. For many individuals contemplating a conversion from a traditional IRA to a Roth IRA, it is time to make some critical decisions.
Prescription for the New Health Care Credit: IRS explains rules for a qualified “small business”
The new health care legislation signed on March 23, 2010—the Patient Protection and Affordable Care Act—will dramatically alter the landscape for small-business owners in the coming years. One critical change: Beginning in 2010, a business may qualify for a special tax credit that can partially offset rising health insurance costs.
New Law Revamps Student Loan Program: Four key provisions can benefit borrowers
The new Health Care and Education Reconciliation Act of 2010—recently signed in conjunction with the monumental new health care law—includes dramatic reforms in the federal student loan program. This new legislation could affect families of all stripes for years to come.
Rising Costs of Child-raising
How much does it cost to raise a child? The latest figures can be daunting.
August 2010 | Volume 3, Issue 3
Connecting Your Business to Social Media: Seven steps to create a business identity
It is rapidly becoming apparent that engaging in social media can be critical to business success, at least in the foreseeable future. How do you get started? There is no exact blueprint, but the following steps should be helpful.
Six Ways to Improve Debt Collection: Practical ideas for collection activities
In the current economy, it is not enough to generate sales. It is just as important to ensure that your business is actually paid for your services or products. That is why debt collection is increasingly becoming a concern of small-business owners.
Are You in the AMT Danger Zone?: Assess your situation to limit damage
The alternative minimum tax (AMT) was originally designed to ensnare only the wealthiest individuals. But this “stealth tax” has been steadily hitting a far wider group of taxpayers than initially intended. If you are in danger of incurring AMT liability, you should familiarize yourself with the rules.
Enough Frivolity: IRS Gets Serious
Be forewarned: The IRS wants taxpayers to stop using “frivolous” arguments to claim deductions or avoid taxable income.
Facts and Figures: Timely points of particular interest
Mortgage Interest—In a new case, a couple put a home in a trust but remained liable for the mortgage. They rented out the home to tenants who agreed to pay the mortgage, repairs and insurance. The Tax Court said that the tenants should be treated as equitable owners of the home.
June 2010 | Volume 3, Issue 2
Six Estate-planning Steps for This Year: Giving your estate plan a check-up
The scheduled one-year repeal of the federal estate tax in 2010, plus the related changes in the federal estate- and gift-tax system, have certainly clouded estate-planning matters this year. It is expected that Congress will eventually take some legislative action, but that does not mean you should stand by idly. It is important to have your estate plan reviewed to ensure it still meets your objectives and that it is positioned to accommodate future developments.
How to Raise Cash for a Business: Potential sources for business financing
It “takes money to make money,” but some of the conventional sources of cash have dried up for small-business owners. But that does not mean you should give up. If you lack the necessary funds to start a business or you need more money to expand your current operation, there are still several possible ways to raise the cash.
Protecting Your Business from Embezzlement: Be both proactive and reactive
It seems that every other day the newspapers feature a story where a longtime employee has embezzled money from his or her employer. You may sadly shake your head and blithely continue to go about your business. After all, this cannot happen to you...can it?
Facts and Figures: Timely points of particular interest
Pay the IRS First—In a new case, the chief executive officer (CEO) of a restaurant franchise found out that the company’s accountants did not make the required employer tax deposits on time. But the CEO let six months go by before he fired the accounting professionals. In the meantime, company funds were used to pay off other debt.