Tax and Business Alert - July 2015



Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Please contact us if you have questions about any of the issues discussed.

SUMMER TIME IS A GOOD TIME TO START PLANNING AND ORGANIZING YOUR TAXES
Starting tax planning in the summer is a good way to avoid a tax surprise when filing next year. Also, it's a good time to set up a system to keep tax records safe and easy to find. This article provides some tips to help get a leg up on next year's taxes. Read more...

COMBINED BUSINESS AND VACATION TRAVEL
If a business trip within the U.S. includes some vacation days, some of the expenses can be deducted. The question is how much. This article explains how to allocate business vs. personal expenses. Read more...

TAX CALENDAR
This article notes some important tax deadlines for July through September. Read more...

AVOIDING AN INADVERTENT TERMINATION OF S CORPORATION STATUS
An inadvertent termination of a company's S corporation status can mess up even the best tax planning intentions. This article offers some important considerations and suggestions to help avoid an inadvertent loss of the company's qualification to be treated as an S corporation. It discusses the 100-shareholder limitation and excessive passive investment income, among other considerations. Read more...

ROLLOVERS FROM QUALIFIED PLANS TO IRAs
Employees who quit or retire will often have to decide whether to leave their qualified retirement plan account (e.g., 401(k) account) alone or to roll it over to an IRA. The answer, of course, depends on the individual's specific circumstances. This article looks at some general pros and cons to consider, involving such issues as investment choices and creditor protection. Read more...

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax-related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax-related matter addressed herein. © 2015