Because of the accumulated earnings tax, a C corporation with significant accumulated earnings can be a problem for a CPA trusted business adviser. Paying the money out as a dividend leads to a second ...

As the deadline for 2023 income tax reporting approaches, it is timely to revisit the substantiation rules for claiming charitable deductions during the tax year. For many years, the IRS has focused ...

* Deduction figure could be skewed because fewer than 80 percent of taxpayers itemized deductions on their returns. Note: Estimated disposable income is calculated by subtracting the average cost of ...

Editor’s Note: The CARES Act made several changes designed to encourage charitable giving during the COVID-19 outbreak. For the 2020 and 2021 tax years, the CARES Act amended IRC Section 62(a), ...

A QCD can reduce your tax bill in retirement while meeting charitable giving goals. Here’s how.

A charitable gift annuity is a contract between you and Jewish Federation of Metropolitan Chicago. You transfer property to Jewish Federation of Metropolitan Chicago. In exchange we pay you fixed ...