by wabc | May 8, 2020 | Accounting Updates, Taxes |
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions can affect 2018 and 2019 returns that have...
by wabc | Apr 24, 2020 | Accounting Updates, Taxes |
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational organizations,...
by wabc | Apr 3, 2020 | Taxes |
In late 2019, the Internal Revenue Service (IRS) and Treasury Department issued a final answer to the question of whether large gifts made between December 31, 2017, and January 1, 2026, would adversely affect post-2025 estates. The regulation confirms that...
by wabc | Mar 13, 2020 | Taxes |
The Internal Revenue Service recently issued the 2020 optional standard mileage rates. These rates, which adjust every year to account for inflation of fuel costs, vehicle cost and maintenance, and insurance rate increases, will once again affect the way a company...
by wabc | Mar 6, 2020 | Taxes |
Roughly 15 million individual taxpayers filed for an automatic six-month extension for the 2018 tax year, according to the IRS, compared with about 10 million people in previous years. Why did the number of extensions surge last year? Most changes under the Tax...
by wabc | Feb 22, 2020 | Taxes |
IRS Revenue Ruling 59-60 is an essential building block of modern appraisal practice. It identifies “the condition and outlook of the specific industry” as one of the factors to consider when valuing a private business. But how do investors measure...
