Kutchins, Robbins & Diamond, Ltd. Certified Public Accountants and Advisors

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How to Claim Expenses on Behalf of a Charity as Deductions

You’re probably aware that contributed cash donations made to a charitable organization are deductions at tax time…but you might not realize that if you provide work for a charity, you are able to deduct some of the costs of your related activities as well. 

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The Gift Tax, the Exclusion and the Lifetime Exemption

IRS Definition of Gift — “Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return.”

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Gifting (Transferring Assets) and Medicaid Penalties

If you’re considering transferring assets (including cash, giving gifts for holidays, weddings, birthdays or graduations); or if you plan to buy something for a friend or relative, or you want to gift to charities, it could affect your Medicaid long-term care benefits; you need to be careful because giving away money or property can interfere […]

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Keeping the End in Mind: Where is Your Business Heading?
Are You Using QuickBooks’ Custom Fields? Should You Be?
Expand QuickBooks Online’s Features: Use Integrated Apps

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