A little bit of stress can help you stay focused, meet new challenges in the workplace, and keep you alert to avoid costly (or dangerous) mistakes.
Month: November 2019
Charitable Giving: Acknowledgement and Substantiation
The Tax Code encourages charitable giving by allowing an income tax deduction. However, certain requirements must be followed to in order to claim the deduction.
Is Your Business Entitled to Tax Relief for Contract Workers?
If your business has been selected for an employment tax examination to determine whether you correctly treated certain workers as independent contractors, you may be entitled to Internal Code Section 530 relief. If you meet the relief requirements you won’t owe employment taxes for those workers.
Organizational Policies for Non-Profits
Although the Tax Code does not require charities to have governance and management policies, the IRS will review an organization’s application for exemption and annual information returns (Form 990) to determine whether the organization has implemented certain policies.
2019 Tax Planning Strategies Before Year-End
With year-end approaching, now’s the time to take steps to cut your 2019 tax bill. Here are some year-end tax planning strategies to consider, assuming next year’s general election doesn’t result in retroactive tax changes that could affect your 2020 tax year.