The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

3 Taxes People Love to Hate

Nobody likes paying money to the IRS, but some federal tax levies are harder for people to swallow than others. Which tax assessment is your least favorite? See how your preferences compare to our informal survey of most-hated taxes. With advance planning, you may be able to minimize or even eliminate these tax issues.

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FAQs about Social Security Retirement Benefits

Applying for Social Security retirement benefits is a rite of passage. But many seniors are uncertain about their options, including when to start collecting benefits, how to apply, who qualifies for survivors benefits and whether benefits will be subject to income tax. Here are the answers to some common questions, along with insight into the long-term viability of the Social Security system.

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FAQs about Social Security Retirement Benefits

Applying for Social Security retirement benefits is a rite of passage. But many seniors are uncertain about their options, including when to start collecting benefits, how to apply, who qualifies for survivors benefits and whether benefits will be subject to income tax. Here are the answers to some common questions, along with insight into the long-term viability of the Social Security system.

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New IRS Guidance for Designated Roth Accounts

The IRS recently published amended final regulations that will allow designated Roth account owners to tailor the tax results from their distributions. This gives owners of the accounts greater flexibility in personal tax planning. Here are the details, including an example of how the new guidance can lower taxes on distributions from designated Roth accounts.

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New IRS Guidance for Designated Roth Accounts

The IRS recently published amended final regulations that will allow designated Roth account owners to tailor the tax results from their distributions. This gives owners of the accounts greater flexibility in personal tax planning. Here are the details, including an example of how the new guidance can lower taxes on distributions from designated Roth accounts.

Read on CBD Spotlight >

The Financial Rewards of Buying a Condo for Your Kid’s College Housing

If you have a kid in college, living expenses can be significant. One way to save money is to invest in an on-campus condominium for him or her and any roommates to reside in. As an added bonus, you may be able to sell the condo for a gain after graduation. Here are the details on the federal tax rules on rental properties for college kids and advice on how to avoid potential pitfalls.

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The Financial Rewards of Buying a Condo for Your Kid’s College Housing

If you have a kid in college, living expenses can be significant. One way to save money is to invest in an on-campus condominium for him or her and any roommates to reside in. As an added bonus, you may be able to sell the condo for a gain after graduation. Here are the details on the federal tax rules on rental properties for college kids and advice on how to avoid potential pitfalls.

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Save Taxes with Employer-Provided Transportation Fringe Benefits

Have you signed up for transportation fringe benefits or contributed to a salary reduction arrangement to cover the costs of your daily commute? If your employer provides these fringe benefits for parking, mass transit passes, van pooling and bicycle costs, taking advantage of them could save you significant tax dollars. Here are the details.

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Save Taxes with Employer-Provided Transportation Fringe Benefits

Have you signed up for transportation fringe benefits or contributed to a salary reduction arrangement to cover the costs of your daily commute? If your employer provides these fringe benefits for parking, mass transit passes, van pooling and bicycle costs, taking advantage of them could save you significant tax dollars. Here are the details.

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Midyear Planning for Vacation Home Rentals with Significant Personal Use

Many people own properties that they primarily use for family vacations. When they contemplate renting out these vacation homes, questions often arise about taxes. Here are the tax basics for vacation homes that are rented out to third parties but that also have significant personal use. Summer is a good time to plan how to use such properties for the rest of the year to maximize the tax benefits.

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Midyear Planning for Vacation Home Rentals with Significant Personal Use

Many people own properties that they primarily use for family vacations. When they contemplate renting out these vacation homes, questions often arise about taxes. Here are the tax basics for vacation homes that are rented out to third parties but that also have significant personal use. Summer is a good time to plan how to use such properties for the rest of the year to maximize the tax benefits.

Read on CBD Spotlight >

More Adult Children Opting to Live with Parents

Plans to remodel your kid’s bedroom into an exercise room or walk-in closet after he or she completes school may have to be put on hold. A recent study reveals that more young adults are opting to live with their parents as opposed to moving out on their own or with friends. Surprisingly, the uncertain economy isn’t always the reason and many parents and live-in adult children are happy with the set-up. Here’s more on this emerging trend.

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More Adult Children Opting to Live with Parents

Plans to remodel your kid’s bedroom into an exercise room or walk-in closet after he or she completes school may have to be put on hold. A recent study reveals that more young adults are opting to live with their parents as opposed to moving out on their own or with friends. Surprisingly, the uncertain economy isn’t always the reason and many parents and live-in adult children are happy with the set-up. Here’s more on this emerging trend.

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Heavy Vehicle Purchases Offer Significant Business Tax Breaks…For Now

Qualifying business vehicle purchases may be eligible for Section 179 depreciation, 50% first-year bonus depreciation and regular depreciation deductions. Combined, these deductions can be substantial. But the favorable tax rules may not last. If you’re considering purchasing an SUV or other heavy vehicle for business, it could make sense to act before year end in case the rules are changed after Election Day.

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Heavy Vehicle Purchases Offer Significant Business Tax Breaks…For Now

Qualifying business vehicle purchases may be eligible for Section 179 depreciation, 50% first-year bonus depreciation and regular depreciation deductions. Combined, these deductions can be substantial. But the favorable tax rules may not last. If you’re considering purchasing an SUV or other heavy vehicle for business, it could make sense to act before year end in case the rules are changed after Election Day.

Read on CBD Spotlight >

10 Midyear Tax Planning Moves Inspired by the PATH Act

Have you met with your tax adviser to plan for 2016? The tax year is almost half over, and several new and expanded tax-saving opportunities are available under recent legislation. Moreover, some tax breaks have been made permanent, adding certainty to a few of your tax planning strategies. Here are some ideas for individuals and small businesses to lower their tax obligations this year.

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New Overtime Rules Issued: What it Means for You

Starting December 1, new overtime rules kick in that will make millions more employees qualify for overtime pay. The changes include a dramatically higher pay threshold that determines whether workers are eligible for overtime at a rate of at least one and one-half times their regular pay. With a few months of lead time, employers need to take a look at their operations and decide how to incorporate the changes. This article explains.

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New Study Confirms the Prevalence and Cost of White Collar Crime

How much money do you lose to fraud each year? The Association of Certified Fraud Examiners has been studying the costs, schemes, perpetrators and victims of occupational fraud for the last two decades. In doing so, it has triggered many organizations to implement antifraud controls. Here are the results from the latest Report to the Nations on Occupational Fraud and Abuse, and ways to safeguard your organization.

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New Study Confirms the Prevalence and Cost of White Collar Crime

How much money do you lose to fraud each year? The Association of Certified Fraud Examiners has been studying the costs, schemes, perpetrators and victims of occupational fraud for the last two decades. In doing so, it has triggered many organizations to implement antifraud controls. Here are the results from the latest Report to the Nations on Occupational Fraud and Abuse, and ways to safeguard your organization.

Read on CBD Spotlight >

Made in America: The Pursuit of Life, Liberty and Global Opportunities

One issue that virtually every American supports this U.S. presidential election year is revitalizing our manufacturing sector. Since 1998, millions of manufacturing jobs have been outsourced to countries with lower wages and fewer regulations. But that trend is slowly reversing due to resurgence in the Made-in-America movement, the growing benefits of “reshoring” and government efforts to expand export opportunities.

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