Own Mutual Fund Investments? Avoid These Tax Landmines
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling fund shares. Did you sell fund shares and not know it? You may
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Blog Month: October 2020
Tourism industry grant applications are open
Several of the grant programs targeting the tourism industry announced last week are now accepting applications. These grants, funded by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act Coronavirus
Quid Pro Quo Contributions
This Fall, more and more nonprofits are starting to host virtual special events, taking place for some of the traditional in-person events. A number of nonprofits have creatively found ways
‘Virtual’ Trade Show Guidance
Net income received by a tax-exempt organization may be subject to federal corporate income taxation if the income is generated by the performance of an activity that is a trade
When Is It Safe To Toss Your Tax Records?
October 15 was the extended due date for filing 2019 individual tax. If you didn’t file by then… you’re late! For those that have filed, you might wonder: Which tax
Surviving an IRS audit is Easiest when Planned for in Advance
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of individuals and business owners. But with a little advance preparation
PPP Updates and Loan Forgiveness
While the blitz of new PPP information has slowed substantially over the past few months, there has been some important new guidance released over this past week. Here are some
Rolling over capital gains into a qualified opportunity fund
If you’re selling a business interest, real estate or other highly appreciated property, you could get hit with a substantial capital gains tax bill. One way to soften the blow
Don’t Forget to Consider Estate Planning and Gifting Strategies
Questions often arise related to estate planning and gifting. Fortunately, the current estate tax exemption amount for 2020 is $11.58 million, so many individuals no longer need to be concerned