Tax and Business Alert - February 2016



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.

GOOD EATS, TAX BREAKS: DEDUCTING EMPLOYEE MEAL COSTS
One thing about human resources - they need to eat. Just about every employer encounters situations in which it needs to provide meals to its employees. This article discusses the latest tax rules for deducting these costs. A sidebar looks at the advantages and tax impact of establishing an employee cafeteria. Read more...

REACQUAINTING YOURSELF WITH THE ROTH IRA
When looking into retirement planning, many people read about Roth IRAs. But the timing isn't always right to take on one of these arrangements. This article recommends getting reacquainted with the Roth IRA - including its concept, contribution limits and conversion rules. Read more...

WHY FLIP REAL ESTATE WHEN YOU CAN EXCHANGE IT?
Those who own real estate for investment purposes may focus on flipping it when an adequate gain has been reached. But there's another option: exchanging it under Section 1031 of the Internal Revenue Code. This article explains how such "like-kind" exchanges work, warning also of the complex rules and potential risks. Read more...

MARRIED FILERS, THE CHOICE IS YOURS
For married couples, there's no harm in at least considering whether to file joint or separate tax returns every year. This brief article notes potential advantages of filing jointly, but also describes circumstances under which filing separately may be the better option. 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. © 2016