The complicated world of noncash contributions
From a bag of used clothing to artwork worth millions, donations can get a tax deduction — the complications arise when dealing with substantiation requirements.
Source: accountingtoday.com
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Tax season so far: A mixed bag
Better IRS phone service, overly aggressive ERC claims, a talent shortage, and other top topics of filing season.
Source: accountingtoday.com
The many faces of diversity in accounting
Firms need to take new approaches to diversity, equity and inclusion initiatives.
Source: accountingtoday.com
IRS clarifies ADS recovery period for rental property
Revenue Procedure 2021-28 offers guidance for real property trades or businesses implementing retroactive changes.
Source: accountingtoday.com
Latest stimulus package includes important tax credits
The COVID-19 relief package that Congress agreed to last month provides some useful tax breaks that accountants are recommending to their clients, but they’re wondering about the applicability of some tax breaks, such as claiming restaurant meals as business deductions.
Source: accountingtoday.com