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.
Donor-Advised Funds: Changing the World, One Dollar at a Time
Taxes - Planning, Rules and Returns , Taxes - Individual
What to Consider When You Inherit an IRA from your Spouse
Taxes - Planning, Rules and Returns , Retirement Planning & IRAsBy Zinner & Co.
Tax Services Department
New Tax Penalty on Small Business Health Insurance
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns , Business - Management, Issues & ConcernsBy Howard Kass, CPA, CGMA, AEP®
Partner
In Case You Missed It: IRS Stops Automatically Issuing Closing Letter for Form 706 Filings
Taxes - Planning, Rules and ReturnsThe IRS updated its frequently asked questions on June 16, indicating that taxpayers will no longer automatically receive closing letters after filing Form 706. Taxpayers will have to request closing letters if they filed after June 1. Those who filed before June 1 will still get an automatic closing letter. WealthManagement.com (U.S.) (6/25)
New Income Tax Reductions for Ohio Business Owners
Ohio business owners , Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsBy Brett W. Neate, CPA, MTax
Senior Tax Manager
The Supreme Court Ruling on ACA Subsidies: What does this mean?
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
With the ACA subsidy access remaining available in all states, does this affect you or your business?
On June 25th The United States Supreme Court issued their ruling on the King vs. Burwell case, upholding the government subsidies as provided in the Affordable Care Act (ACA). This case was based on wording in the ACA that could be interpreted two ways.
Understanding the Tax Benefits of a Same-sex Marriage
DOMA , Taxes - Planning, Rules and Returns , Estates, Gifts & TrustsWith the Supreme Court ruling same-sex marriage is a right for all married same-sex couples should know the tax benefits they will receive beginning this year.
Mandatory Filing Now Required for U.S. Owners of Foreign Entities
foreign assets , owners of foreign entities , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
The Department of Commerce has introduced a new form that is required to be filed by U.S. owners of foreign entities. The new form BE-10 is filed through the Bureau of Economic Analysis (BEA). The BE-10 is an annual survey which, up until recently, was only mandatory if the U.S. owner was contacted directly by the BEA.
Reasonable Compensation for Shareholders of Corporations
Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsC Corporation
Have Nagging Financial Questions?
