Tax Issues and Inherited IRAs
Special tax rules for inherited IRAs Normally, retirement plan distributions made to a nonspouse beneficiary after the account owner’s death are taxable at the time they are received and cannot be…
DetailsJuly Tax Tips
100% Tax Deduction for Certain M&E Expenses! What can I take as a tax deduction for meals and entertainment? Generally, businesses are limited to deducting 50% of allowable meal and…
DetailsTax Refund Fraud is Running Rampant
Someone took my tax refund! According to a January 2015 Government Accounting Office (GAO) report, the IRS estimated it prevented $24.2 billion in fraudulent identity theft tax refunds occurring during…
DetailsJune Tax Tips: ESAs and Vehicle Donations
Expect to be paying elementary or secondary school costs in the future? Consider an ESA As the school year draws to a close, it’s a good time to think about…
DetailsMore than Money: Customer-Smart Invoicing
Invoicing Should be Easy! It’s simple, right? You send customers an invoice and they pay up. But the process can be so much more — it can be an opportunity…
DetailsNew 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…
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