Corporate Tax Incentives for Personal Property Donation
Article: Corporate Tax Incentives for Personal Property Donation Not only are provisions in place for individuals to donate materials and personal property to qualified nonprofits and government agencies but favorable tax provisions are in existence for corporations. Please reference IRS Publication 542 Corporations A corporation can claim a deduction for charitable donations in cash or […]
Read MoreNon-Monetary Charitable Contribution Deduction
Article: Non-Monetary Charitable Contribution Deduction Category: Charitable Donations An individual can deduct the Fair Market Value of deconstructed materials and/or personal property on the 1040 Schedule A—Itemized Deductions A corporation can deduct the Fair Market Value of deconstructed materials and/or personal property as a deduction on their 1120 return. In either deduction scenario, a donor […]
Read MoreIt is Officially 2020—Must I prepare for my taxes?
Article: It is Officially 2020—Must I prepare for my taxes? It is Officially 2020 Must I prepare for my taxes? Jessica I. Marschall, CPA, President Marschall Accounting Services LLC January 4th, 2019 Yes. Yes, you must begin preparing for your taxes. Like every CPA, we are entering our busiest season of the year. However, the […]
Read MoreBusiness Tax Returns—Preparing for 2019 Filings
Article: Business Tax Returns—Preparing for 2019 Filings Jessica I. Marschall, CEO, Marschall Accounting Services LLC January 5th, 2019 As CPAs, we have amassed troves of horror stories from taxpayers who have chosen to prepare their own business returns on a platform such as TurboTax. In some ways, we should appreciate the do-it-yourself platforms that allow […]
Read MoreStaying in My Lane—Tax expertise in my defined area
Article: Staying in My Lane—Tax expertise in my defined area Category: 1040 Income Tax Staying in My Lane Tax expertise in my defined area and relying on synergistic financial partners Jessica I. Marschall, President, Marschall Accounting Services LLC January 24th, 2020 I had the pleasure of meeting my financial advisor today for lunch. Chad Williams, […]
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