GoFundMe Receipts and IRS Rules
Aside from contribution-only donations to established 501(c)(3) charities, the gift/non-gift distinction has always been rather subjective. For example, assume you
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Recent blogs
How to Improve Time Management in Your Tax Planning Business
As a business owner, how you view and allocate your time plays a major role in the success of your
How to Increase Efficiency in Your Tax Planning Business
A key to business growth is finding ways to get more done with less effort. Small business owners are often
Real Estate Tax Savings: The 121 Exclusion—How to Qualify (Even if You are an Exception to the Rule)
More and more Americans are starting to use real estate as a primary or secondary income source. From renting out
Navigating the 121 Exclusion: Tax Planning for Real Estate Income
Tax professionals today need to be prepared to incorporate real estate income into their clients’ tax plans. More and more
Real Estate Tax Savings: Using a Property for Short-Term Rentals
Looking to invest in real estate? The many tax loopholes available can make this an attractive source of income—but first-time
The Ins and Outs of Real Estate Income: Tax Planning for Short-Term Rentals
Using real estate as a source of income is only becoming more popular with the advent of sites like Airbnb
Ethical Concerns in Using Tax Planning Software
What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there
IRS Turning Up the Heat on Reasonable Compensation Compliance
By Paul S. Hamann & Jack Salewski, CPA, CGMA Having a Reasonable Compensation figure that is “reasonable” isn’t enough anymore.
Personal Goodwill as a Tax Strategy: 3 Requirements for Using Personal Goodwill to Reduce Taxation
Tax planners can provide tremendous value in the sale of a business. Business owners and shareholders may not be aware
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