by apexcpas | Jul 4, 2018 | Tax Planning
Most tax-exempt organizations are required to file an annual return or notice, a requirement that is important to people claiming a tax deduction for charitable giving. The IRS automatically revokes the exemption of any organization that fails to satisfy its filing...
by apexcpas | Jul 4, 2018 | Tax Planning
It seems as if every neighborhood has a “cat lady.” And now the Tax Court has Jan Van Dusen. Van Dusen is an attorney who cares for cats in her private residence. She volunteers for a qualified charitable organization called Fix Our Ferals. Van Dusen traps...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued proposed regulations that should allow more investments in non-real estate businesses located in low-income communities to qualify for a new markets tax credit. Through 2009, the new markets tax credit (NMTC) has helped approximately 3,000...
by apexcpas | Jul 4, 2018 | Tax Planning
If your business claimed bonus depreciation on machinery or equipment in a previous year and then trades it in for an upgrade during 2011, you may qualify for bonus depreciation on the remaining depreciable basis in the old assets. The calculations can seem...
by apexcpas | Jul 4, 2018 | Tax Planning
Are you looking for a tax break for the busy summer? Many working parents must arrange for care of their children under 13 years of age during the school vacation period. A popular solution – with a tax benefit – is a day camp program. The cost of day camp can count...