New Ruling for Real Estate Trusts
How a trust qualified for an exception to PAL rules In a favorable decision for trusts that hold real estate assets, the U.S. Tax Court has held that such a…
DetailsShort Term Rental of Your Home
Does renting your home make sense for you? We are all aware that Cleveland has become a popular destination of late. Major motion pictures are being filmed here, we recently had…
DetailsCiuni & Panichi, Inc. May Tax Tips
Now’s the time to begin your 2015 tax planning Whether you filed your 2014 income tax return by the April 15 deadline or filed for an extension, you may think…
DetailsApril Tax Tips
Make sure you have proper tax substantiation for your 2014 donations. If you don’t meet IRS tax substantiation requirements, your charitable deductions could be denied. To comply, generally you must…
DetailsNonprofits: Five Strategies for Recruiting New Board Members
A board is a nonprofit’s backbone. Your board is your nonprofit’s backbone, responsible for the strategic decisions and fiscal oversight that keep your organization running and your reputation with the…
DetailsEight Tax Tips for Deducting Charitable Contributions
If you are looking for a tax deduction, giving to charity can be a “win-win” situation. It’s good for them and good for you. Here are eight things you should…
DetailsAffordable Care Act New Reporting Requirements
Action Required Now By: Jeffrey R. Spencer, CPA, Principal, Ciuni & Panichi, Inc. The Affordable Care Act (ACA) imposes significant new reporting requirements on large employers beginning with the 2015…
DetailsConsidering a Change to REITs and RICs
New regs tackle property transfers from C corps to REITs and RICs Last fall, the IRS issued long-awaited final regulations providing guidance on the recognition of built-in gains when the…
DetailsFraud: Red Flags Rule Tackles Identity Theft
Are you covered? Several years ago, the Federal Trade Commission (FTC) issued its “Red Flags Rule,” which requires financial institutions and other organizations to implement a written identity theft prevention…
DetailsStill filing a paper tax return?
Be sure you understand the “timely mailed = timely filed” rule The IRS considers a paper tax return that’s due April 15 to be timely filed if it’s postmarked by…
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