IRS issues 2020 standard mileage TBy Sally P. Schreiber, J.D. January 2, 2020 he optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019, the IRS announced on Tuesday (Notice 2020-05). For...
Accounting Industry Insights
The child tax credit benefits eligible parents
The child tax credit benefits eligible parents Taxpayers who claim at least one child as their dependent on their tax return may be eligible to benefit from the child tax credit. It’s important for people who might qualify for this credit to review the eligibility...
Here’s how the credit for other dependents can benefit taxpayers
Here’s how the credit for other dependents can benefit taxpayers Taxpayers with dependents may qualify to claim a few different tax credits. One of these is the child tax credit. The child tax credit benefits people whose dependent meets a series of tests. If...
Get ready for taxes: Here’s what to know about getting a tax refund
Tax returns, like snowflakes and thumbprints are unique and individual. So too, is each taxpayer’s refund. This is something for taxpayers to remember next year when someone they know says or posts on social media about receiving a federal tax refund. Even though the...
#givingtuesday
GivingTuesday is a global generosity movement unleashing the power of people and organizations to transform their communities and the world on December 3, 2019 and every day. It was created in 2012 as a simple idea: a day that encourages people to do good. Over the...
“Substantiation Requirements for Charitable Organizations (Non-Profits) when Accepting Donations”
The written acknowledgment required to substantiate a charitable contribution of $250 or more must contain the following information: Name of the organization; Amount of cash contribution; Description (but not value) of non-cash contribution; Statement that no...

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