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Tax Newsletter – December 2017

The HoganTaylor LLP Tax Team is excited to present the December 2017 edition of our eNewsletter. Our newsletter is designed to help you keep up with the latest tax issues.

As always, please do not hesitate to contact a member of the HoganTaylor Tax Team with any questions you may have regarding these subjects. Additionally, we welcome any thoughts or ideas you may have for future newsletter topics.

In This Issue:

Momma-preneurship: Every Day’s a Party

By Monika Turek, HoganTaylor Tax Staff

Momma-preneurship (balancing the role of mom and entrepreneur) is hard work. Before you enter into a new business venture or complicated transaction, it is always important to contact your CPA. Read More

Educate Employees on Required Minimum Distribution Rules

Businesses with employees headed for retirement can provide a helpful service by educating these workers on rules regarding required minimum distributions (RMDs). If violated, these rules could trigger hefty penalties. This article explains RMD requirements for IRAs and 401(k)s. A sidebar looks at other RMD issues, such as beneficiary spouses and form of distribution. Read More

DAPTs Offer a Homegrown Approach to Asset Protection

The most effective way to protect assets from future creditors is to transfer them to children or other family members with no strings attached. But, understandably, many wealthier individuals want to retain some control over their wealth. This article looks at one potential option of doing so: creating a domestic asset protection trust. Read More

5 Common Mistakes When Applying for Financial Aid

Given the astronomical cost of college, even well-off parents should consider applying for financial aid. A single misstep, however, can harm a child’s eligibility. This article looks at five common mistakes. Read More

Ensuring Your Year-End Donations are Tax Deductible

Many people decide to make donations at the end of the year. When doing so, it’s important to know the rules about whether such contributions will be considered tax deductible for 2017. This brief article discusses two important concepts: delivery dates and qualified charities. Read More