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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.

Gaining Remote Access to Your Computer

Know the basic options at your disposal We have come a long way since desktop computers became a staple of the office and the home. Initially, you had to be stationed in front of your computer screen to view the files and use the programs on your desktop. As most of you are well-aware, the technology in this area has moved forward in leaps and bounds.

Go Directly From a 401(k) to a Roth

Future incentives for rolling over funds Do you want to transfer your 401(k) plan assets to a Roth IRA? Under a recent tax law change, you can make the move in one fell swoop. Previously, it took two separate steps. In addition, another tax law provision taking effect this year may encourage this direct approach.

IRS Reveals "Dirty Dozen" Tax Scams

Every year, the IRS issues a list of "dirty dozen" tax scams to watch out for.

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.

Should You Give to a Donor-advised Fund?

Advantages of alternative to private foundations Wealthy entrepreneurs with charitable intentions may choose to set up a private foundation. But a more convenient alternative is gaining in popularity: the donor-advised fund.

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.

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.

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 *Severance Payments--In a surprising new case, a District Court in Michigan ruled that severance payments should not be treated as "wages" for employment tax purposes.

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.

Weight Discrimination in the Workplace

Legal claims by employees are rising Recent statistics on obesity are cause for concern. In 2008, Colorado was the only state showing a prevalence of obesity less than 20% ("obesity" being a body mass index of 30 or higher). Also, 32 states had a prevalence equal to or greater than 25%.

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.

Finding a Tax Bundle of Joy

Is someone in your family adopting a child? He or she may recoup expenses through the adoption tax credit (revised by the health care law).

New Payroll Taxes on Tap

Currently, the 1.45% Medicare tax portion of Social Security tax applies to "earned income," such as wages, but not "unearned income."

New Tax Incentives in the HIRE Act

Benefit from tax breaks for hiring workers The president signed the new Hiring Incentives to Restore Employment (HIRE) Act into law on March 18, 2010. This law features new tax breaks for hiring and retaining unemployed workers, an extension of the higher Section 179 deduction allowed for 2009 and an enhancement of the Build American Bonds program. Here are the particulars:

Nuggets About Investing in Gold

Consider key tax and nontax factors Are you interested in buying gold as an inflation hedge? Be wary of the potential pitfalls. Typically, the price of gold is subject to extreme price fluctuations and may be adversely affected by changing economic conditions. If you decide to invest, here are four common methods:

Overview of the New Health Care Law

Broad reforms change the landscape The massive new health care legislation includes sweeping changes for businesses and individuals, although certain "grandfather" rules may apply. Here is a summary of several key provisions.

Facts and Figures

Timely points of particular interest *Gender Identity--The Tax Court has just approved an unusual medical expense deduction.

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. For example:

IRS Installments: Deal or No Deal?

The IRS recently issued final regulations covering procedures for arranging installment agreements.
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