If you donate your vehicle, the value of your deduction can vary greatly depending on what the charity does with it. You can deduct the vehicle’s fair market value (FMV) if the charity: Uses the vehicle for a significant charitable purpose (such as delivering meals-on-wheels to the elderly), Sells the vehicle for substantially less than […]
Often times when discussing my career with friends and family, I am asked, “What exactly do you do every day?” Many expect me to talk about a recurring month-end closing process or the rigors of tax season and are surprised to hear that my job duties are far from cyclical. I like to joke that […]
The U.S. Supreme Court has recently ruled employers are required to protect their associates 401(k) plans against excessive fees and investments that underperform their peers. Click here to read the article from MSN Money and share your comments in the box below.
It seems like just yesterday that I was complaining about the wintertime cold and snow. Now, however (and quickly), it is summer; hot, humid and stormy (wiping out a weekend’s worth of baseball for my son’s team). Cincinnati seems to be particularly “hot” this summer – and I don’t mean the temperature. Here are just […]
Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why is this important? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses are deductible only against passive income, with the excess being carried forward. To qualify […]
Do you work with a CFO, CEO, COO, CMO or CLO that has contributed to a client’s growth? Know a friend who is committed to the community and their outstanding professional performance? Do you have a peer that thinks strategically and has strengthened the company’s market position? If you answered “yes” to any of the […]
Generally, businesses are limited to deducting 50% of allowable meal and entertainment (M&E) expenses. But certain expenses are 100% deductible, including expenses: For food and beverages furnished at the workplace primarily for employees, Treated as employee compensation, That are excludable from employees’ income as de minimis fringe benefits, For recreational or social activities for employees, […]