it would be wise to not completely write off that possibility. If you intend to donate a large cash or high value non-cash amount to a qualified 501(c)(3), it is in your best interest to get the full allowable tax deduction for your generosity. And if you don’t itemize your...
IRS Publication 571: Tax-Sheltered Annuity Plans (403(b) Plans) is for people with a 403(b). IRS Publication 571 outlines 403(b) rules, including contributions, rollovers, and distributions. A 403(b) is similar to a 401(k). It's offered by public schools and tax-exempt organizations...
though the type of rental activity will alter which sections of the tax form that income is reported. IRS Publication 527 outlines how to account for propertydepreciation, what types of deductions can be made on rental income, as well as what to do if only part of a property is rented. ...
There is no evidence any of this happened and this scenario hasn’t been featured in any legitimate news coverage. After initial publication of this article, an IRS spokesperson confirmed to PolitiFact that this did not happen. This scenario hasn’t been featured in any legitimate ne...
"Yesterday’s article in New York Magazine is a despicable abuse of a platform that’s intended to provide truthful information to the public. Journalism is supposed to mitigate harm and inform our communities. That fact that a reputable publication would allow a reporter, with a proven and ve...