Protect Your Ability to Exclude the Gain on the Sale of Your Home
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Donor-Advised Funds: Changing the World, One Dollar at a Time
With the recent Independence Day holiday weekend, social media has been buzzing about reasons to be proud to be an American. Obvious reasons include our rich culture (hello, melting pot of the world) and freedoms that citizens of other countries can only dream about. Where else in the world can you practice any religion you please, marry whoever you want, and criticize the president in public, all without fear of death or being thrown in jail? Here’s one more delightful reason we can add to that list: generosity.
The Charity Aid Foundation puts out a study each year that ranks countries based on three giving categories: donating money, volunteering time, and helping a stranger in need. The United States has held the #1 spot on the World Giving Index in 2011, 2013, and 2014. We tied in 2014 with Myanmar, but we were also the only country to be in the top 10 for all three categories.
Summer Wedding? 6 Ways Getting Married Will Affect Your Taxes
It’s here. Your summer wedding, long in the planning and preparation phase, has finally arrived. You’ve spent many months knee-deep in details, from the “will you marry me” or “I will’s” to selecting the first song you dance to as husband and wife. You’ve bickered and resolved the guest list, swallowing your pride to allow crazy Aunt Alice to the reception even though you would rather not, and begrudgingly penning “and guest” to your best friends invitation even though you think their choice is less-than-stellar. 
In the end, there is one person who many couples usually forget to include when budgeting for a wedding and finalizing the guest list: Uncle Sam.
Yes, there are tax issues that come along with getting married. Here are six basic tips courtesy of the IRS to help you on your road to wedded bliss:
What I’m Reading This Summer – Passive Activity Losses and the Material Participation Tests
In my youth, I was fascinated by all things weird and wonderful. The natural wonders of the world, such as the Grand Canyon or Aurora Borealis, were impressive for their scale and beauty. However, the man-made wonders were impressive not only for their scale and beauty but also for the fact that they sprung from the minds of men and made real through years of hard work. 
I was in awe and fueled my interests through the joy of reading. I always held a love for books and looked forward to trips to the local library, so I could find an armful of books that I could read and fill my book log during the annual summer reading program.
Last-Minute Tips for Filing Your Taxes
Don’t panic if you haven’t filed your income tax yet. There’s no time like the present to prepare and file your 2015 tax return.
read more…Changes to Household Employment that Will Affect Families in 2016
If you are a family that has privately hired a household employee to provide childcare, senior care, etc., in your home, there’s a relatively low chance that you’ll know what aspects of household employment have changed from 2015 to 2016. The good news is that most of the changes are relatively minor, but here are five topics you should be aware of:
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Both Sides of the Coin: What you need to know if you issue or receive 1099 forms
Deep into February, I begin to receive two very common questions:
read more…Net Investment Income Tax for Trusts and Estates
Posted by: Robert O’Neil, CPA
read more…Defense of Marriage Act Update
Earlier this year, the Supreme Court’s ruling in the case of The United States v. Windsor essentially rendered the federal Defense of Marriage Act unconstitutional.
read more…Congress Finally Passes “Tax Extender” Legislation
Posted by: Gary M. Sigman, CPA, MTax, PFS, AEP®
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Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
Are my sales tax payments on major purchases still tax deductible?
For many individuals, September means it is time to look for a new car since the upcoming year’s automobile models are introduced. For anyone who is considering purchasing a new car for personal use, there may be a federal income tax benefit available for your new...
IRS Announces it Will Waive Tax Penalties for Under-Withholding and Underpayment for Some
The IRS announced this week in IRS Notice 2019-11 that it would not penalize taxpayers whose tax withholding and estimated tax payments fell short last year due to failing to change their withholding under the Tax Cuts and Jobs Act (TCJA). The IRS stated they...
The Rules Have Changed for Attending the Game (and Other Entertainment Events)
The recent enactment of the Tax Cuts and Jobs Act (TCJA) brought many changes to how individuals and businesses are affected by our tax system. Among the deductions affected was the deduction for meals and entertainment incurred in the course of operating...
States Fail to Overturn SALT Deduction Caps
In a blow to several high-tax states, a federal judge has upheld a key provision of the Tax Cuts and Jobs Act (TCJA), the State and Local Tax (SALT) deduction cap. Under the TCJA, congress placed a cap on the amount taxpayers could claim on their Schedule A for...
8 Tax Issues to Consider When Your Spouse Dies
It goes without saying that the death of one's spouse is typically an extremely difficult emotional trauma. When one loses a spouse, the last thing on the surviving spouse’s mind is the tax issues to be addressed. Nonetheless, the passing of one’s spouse...
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