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Here’s a brief glance at what you’ll find in the August/September 2010 issue…
The recently enacted Patient Protection and Affordable Care Act (PPACA) is a massive law with many provisions — and a large portion of those provisions don’t take effect until future years. This article offers a heads-up on a few of the act’s highlights that could change how businesses approach health care benefits for their employees. Depending on the size of the business, incentives or penalties may apply in order to induce employers to provide benefits.
It’s an odd year for estate planning, with estate tax legislation up in the air as of midyear. Although this has given rise to much estate planning uncertainty, making lifetime gifts is still an effective strategy. Lower asset values can make this a good time to transfer assets and remove future appreciation from one’s taxable estate. It’s also important to consider income taxes, as well as gift and estate taxes, and to ask whether gifting through a grantor retained annuity trust (GRAT) or charitable lead annuity trust (CLAT) might be beneficial.
This issue’s “Moneylines” takes a look at increased IRS scrutiny of small businesses and individuals who misclassify employees as independent contractors. It discusses who has been lending to small businesses since passage of the Troubled Asset Relief Program (TARP), and who hasn’t. And it mentions a survey that shows increasing optimism among small-business executives.
Pedro and Angelina had owned their home for several years and wished to make some environmentally friendly upgrades. But they also wanted to reap any available tax benefits, so they visited their tax advisor. She explained that, yes, there were a number of ways that Pedro and Angelina could make improvements that would do less damage to the environment, lower their energy bills and save them some tax dollars.
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