Upcoming Changes for Not-for-Profit Organization Financial Statements
The changes prescribed in Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities (ASU 2016-14) will affect substantially…read more
Tax Cuts and Jobs Act strains IRS resources
The agency is strapped for cash and already has a huge workload, Olson said in her latest report to Congress….read more
Client FAQ – Documentation for charitable contributions
Q. I have a car that I would like to donate to my church. Can I just claim the amount…read more
How do I…obtain an appraisal for a noncash charitable contribution
Ordinarily, you can deduct the fair market value (FMV) of property contributed to charity. The FMV is the price in…read more
How Do I? Figure the value of clothing and household goods I donate to charity?
The IRS allows taxpayers with a charitable inclination to take a deduction for a wide range of donated items. However,…read more
How do I? Calculate bonus depreciation under the new tax law?
The Tax Cuts and Jobs Act increases bonus depreciation rate to 100 percent for property acquired and placed in service…read more
FAQ: Did the new law change capital gains taxation?
The Tax Cuts and Jobs Act did not directly change the tax rate on capital gains: they remain at 0, 10, 15…read more
President signs bill delaying three ACA taxes
President Trump signed legislation on January 22 to delay the medical device excise tax, the health insurance provider fee and…read more
IRS instructs employers to use new withholding tables
Much-anticipated withholding tables for 2018 have been posted by the IRS. While the new withholding tables are designed to work…read more