Charitable IRA rollovers may be especially beneficial in 2018

Charitable IRA rollovers may be especially beneficial in 2018

If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially beneficial now because of Tax Cuts and Jobs Act (TCJA) changes that affect who can benefit from the […]

The tax deduction ins and outs of donating artwork to charity

The tax deduction ins and outs of donating artwork to charity

If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax deduction and avoid the capital gains taxes you’d owe if you sold the property. The extra benefit […]

2018 Q4 tax calendar: Key deadlines for businesses and other employers

2018 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key 2018 Q4 tax calendar deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. October 15 If a […]

Do you need to make an estimated tax payment by September 17?

Do you need to make an estimated tax payment by September 17?

To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two. The third 2018 estimated tax payment deadline for individuals is September 17. If you don’t have an employer withholding tax from your pay, you likely […]

Back-to-school time means a tax break for teachers

Back-to-school time means a tax break for teachers

When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their expenses. This educator expense deduction is especially important now due to some changes under the […]

Arizona Lawmakers Consider Collecting Internet Sales Tax

Arizona Lawmakers Consider Collecting Internet Sales Tax

Some Arizona lawmakers hope to capitalize on a recent U.S. Supreme Court ruling allowing states to collect online sales taxes. House Speaker J.D. Mesnard told Capitol Media Services he sees no reason why purchases made by Arizonans on the internet should be exempt from the state’s 5.6 percent sales levy. “Conceptually, and I’ve already spoken […]