This might sting a little, but it needs to be said: your CPA doesn’t actually work for you. That statement is not meant to diminish the professionalism of most accountants. Many CPAs are diligent, ethical, and technically excellent at what they do. They ensure your...
If you’re a physician or dentist running your own practice, chances are you spend your days solving everyone else’s problems. You diagnose. You treat. You fix pain points for a living. But behind the scenes, there’s a quiet irony most practice owners experience: while...
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in accordance with IRS requirements. Exactly what’s required depends on various...
The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive...
Giving Tuesday is the kickoff of the season of charitable giving. The IRS encourages taxpayers to research charities before donating and to familiarize themselves with the expanded tax benefits that may come with giving to causes that mean something to them. Taxpayers...
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