In the News

Copyright 2020
Not-for-profit organizations often struggle with valuing non-cash and in-kind donations, including the value of houses and other real estate. Whether for recordkeeping purposes or when helping donors understand proper valuation for their charitable tax deductions, the task isn't easy.
Copyright 2020
When you adopt a child, you could bring home more than a bundle of joy. You may also be in line for a valuable tax credit.
Copyright 2020
If you're experiencing financial distress during the COVID-19 crisis, you might be thinking about tapping into your Roth IRA to improve your cash situation. But before withdrawing money from a Roth account, it's important to understand the federal income tax consequences, especially if you're under 59½.
Copyright 2020
During the COVID-19 public health emergency, the use of telehealth services has skyrocketed, especially among at-risk seniors and patients located in rural areas with limited access to health care. In recent months, telemedicine has proven to be an effective and cost-efficient way to deliver care to patients — and government officials have taken notice.
Copyright 2020
Word is spreading about the IRS and its significant backlog processing mailed-in tax payments. Accountants or their clients may have received a late-payment notice despite having mailed a check in on time. These notices were computer generated and went out to taxpayers based on whether their payment was processed.
 
Copyright 2020
Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects.
Copyright 2020
Employee performance objectives are sometimes based on output, but that can be the wrong reward system. It encourages quantity over quality and fosters a mindset of letting the little defects slide. That, in turn, can result in increasing customer rejections rates, which can hurt your company's reputation and send customers elsewhere.
Copyright 2020
As you know, medical practitioners are subject to a federal law that makes it a felony to influence the referral of federal health care business, including Medicare and Medicaid.
Copyright 2020
Q. Our organization is a 501(c)(3) not-for-profit organization that relies on volunteers. Sometimes our volunteers incur significant transportation and other expenses in connection with the performance of their volunteer services. We would like to pay for some of those expenses, either directly or by reimbursement, to relieve their financial burden. If we do, would the expense payments be treated as taxable income, or would the payments be excluded from income — as they are when our employees incur similar expenses?
Copyright 2020
The days of classic "tax shelters"— such as cattle breeding or oil drilling deals — are long gone. But at least one major tax shelter is still standing: Your home. If you own your principal residence, you can cash in on a bevy of tax breaks, saving thousands of tax dollars or even more. Accordingly, here are six ways your home can provide tax shelter.

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