July 29, 2020 Are Scholarships Tax-Free or Taxable? COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even … Read More
July 28, 2020 Take Advantage of A “Stepped-Up Basis” When You Inherit Property If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for … Read More
July 27, 2020 After You File Your Tax Return: 3 Issues to Consider The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 … Read More
June 26, 2020 How to Regain Your Tax-Exempt Status After Losing It There are many ways for a not-for-profit organization to lose its tax-exempt status — including participating in lobbying and … Read More
June 26, 2020 What Qualifies As A “Coronavirus-Related Distribution” From A Retirement Plan? As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain … Read More
June 23, 2020 Beware of the IRS and DOL: Four Red Flags They Seek on Form 5500 The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures. Advisors use this to … Read More
June 2, 2020 Student Loan Interest: Can You Deduct It On Your Tax Return? The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with student loans have been hard hit. … Read More
June 2, 2020 When Nonprofit Contributions Are Quid Pro Quo Charitable contributions aren’t always eligible for tax deductions — even when the not-for-profit recipient is tax exempt and the donor … Read More
May 1, 2020 IRA Account Value Down? It Might Be A Good Time For A Roth Conversion The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. … Read More
April 22, 2020 Adjusting Your Financial Statements For COVID-19 Tax Relief Measures The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for … Read More
April 9, 2020 UBTI: Making Sense of Unrelated Business Taxable Income for Nonprofits A lot of the work of running a non-profit organization with tax-exempt status involves ensuring that the entity doesn’t engage … Read More
April 1, 2020 COVID-19 Stimulus Package Offers Relief to Affected Individual Taxpayers During these uncertain times, it pays to know what relief is available under the CARES Act for you and your … Read More
