Tax Effects of a Business Making a Charitable Contribution

Charitable contributions are generally allowed as part of an individual’s itemized deductions on his or her income tax return, while a business expense deduction generally isn’t allowable for a contribution made to a charitable organization. However, the IRS recently issued proposed regulations saying that if a taxpayer’s trade or business makes a contribution to a…

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Healthcare Insights: Answers to Your Most Frequently Asked Questions on Accounting, Audit and Compliance Issues Related to COVID-19

At A Glance Providers continue to focus most on the critical patient implications of COVID-19, but they must also consider questions about the broader implications for their business. In the face of further uncertainty ahead, healthcare leaders can take steps now to mitigate the impacts of the pandemic on their business so that they can…

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Digital Transformation: Begin with Cybersecurity in Mind

All too often companies move to digitally transform data without a strategic or proactive approach to cybersecurity and data privacy. As a result of the COVID-19 pandemic, there has been a dramatic, sudden, and unexpected increase in people working, learning, teaching, and consulting from home. This largely unplanned transition from office-based and school-based network access…

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Unique IRA Opportunities for 2020

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal IRA withdrawals and the decision whether to take advantage of the required minimum distribution suspension for 2020. Let’s look…

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