Saturday August 24, 2019
We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
Data Recovery Plans for Tax Professionals
It is helpful to know the IRS requires tax preparers to have a data recovery plan, since many taxpayers use a CPA, attorney, enrolled agent or other tax professional. In letter IR-2019-143, the...
Case of the Week
The Gas Guzzler's Deduction, Part 3
Brandon Bigtop loves his truck, which he affectionately named "the Beast." It was a gift for Brandon's 18th birthday. It is painted bright red and is two tons of metal, muscle and noise. Indeed,...
Private Letter Ruling
Organization Primarily Seeking Legislation Denied Exemption
Organization was incorporated in E with the purpose of educating the public about democracy in America and promoting voting rights, equality and participation for all Americans. Organization's bylaws...
Article of the Month
Substantiation Requirements for Charitable Contributions, Part IV
The Internal Revenue Service requires donors who claim charitable income tax deductions to substantiate the value of their charitable contributions. Donors may not understand the specific...