How taxes affect your nonprofit’s donors
The deductibility of most charitable gifts hasn’t changed since the passage of the Tax Cuts and Jobs Act, but some recordkeeping requirements have. Helping your donors who itemize deductions understand […]
Post Author: David Reape CPA
Do your employees receive tips? You may be eligible for a tax credit
Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare […]
Numerous tax limits affecting businesses have increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your […]
New rules will soon require employers to annually disclose retirement income to employees
As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of the SECURE Act […]
Congress rolls back burdensome UBIT on transportation benefits
A much-hated tax on not-for-profit organizations is on the way out. At the end of 2019, Congress repealed a provision of 2017’s Tax Cuts and Jobs Act (TCJA) that triggered […]
New law provides a variety of tax breaks to businesses and employers
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. […]
The Disaster Act Repeals “parking tax” for Tax Exempt Organizations
Senate passed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (commonly referred to as the Disaster Act,) on Thursday, December 19th. The Disaster Act: Repeals the requirement of […]
Small Businesses: It may not be not too late to cut your 2019 taxes
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: Buying assets.Thinking […]
2020 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may […]
Holiday parties and gifts can help show your appreciation and provide tax breaks
With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving […]
The tax implications if your business engages in environmental cleanup
If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses. […]
Small businesses: Get ready for your 1099-MISC reporting requirements
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. You may have to […]
