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UPDATES&INSIGHTS: TAX – March 2019

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In This Issue:

Required Reading to Prevent Penalties for 2018 Returns

In the instructions for the preparation of 2018 returns for Partnerships and S Corporations, preparers are required to provide basis information for the owners with the return.  Failure to report will result in penalties. This article is required reading to prevent penalties for 2018 returns. Read More

Deducting Charitable Gifts Depends on a Variety of Factors

Whether they’re planning to claim charitable deductions on a 2018 return or make donations for 2019, it’s important for taxpayers to know how much they’re allowed to deduct. This article provides details on different types of charitable gifts and discusses concepts to consider when planning for future giving. Read More

There May Be Unclaimed Property with Your Name On It

It may sound too good to be true, but there may be valuable unclaimed property out there for just about anyone. This brief article offers tips on how to start looking and what to do if one discovers unclaimed property in his or her name. Read More

Did You Repair Your Business Property or Improve It?

Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS may define that “repair” as an “improvement,” and require the costs to be depreciated over a much longer period. This article explores the difference. Read More

Weigh the Tax Impact of Income vs. Growth When Investing

As the 2018 tax-filing season heats up, investors need to consider whether their objectives have changed and how the state of their portfolios will impact their tax liability. This article discusses important issues such as dividends and timing. Read More