In my last post about how year end tax planning starts with reassessing one's commitment to charitable donations I mentioned that my Mom donated her appreciated shares of Exon Mobile to a Donor Advised Fund (DAF). Many readers had questions about what a DAF is and...
Year End Tax Planning Starts with a Charitable Donation Assessment How Do You PLAN to Give Back Next Year?...
The IRS changed its policy on acceptable documentation for issuing dependent Individual Taxpayer Identification Numbers (ITIN). The agency no longer accepts passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from countries other than Canada...
Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures: adjusted gross income - $11,563,931 - MILLION Itemized deductions -...
While working on the St. Peter 2016/17 Stewardship Campaign it became very clear to me that some very smart endowed good people simply do not know about the various types of charitable contributions that can be created or even simply how to charitably give. Once you've recognized...
Last spring I became relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado. With membership ranks and pledged donations struggling, my wife and I developed a plan to drill down into several aspects of charitable giving and report findings along the...
If you will be 50 or older by the end of 2016, you may be able to contribute more money every year to your employer-sponsored retirement plans and your individual retirement arrangements. Contributing more money will help you save more for your retirement and reduce...
According to Brenda L. Hales, Senior Tax Analyst, Internal Revenue Service, ITIN Policy Section-M/S 97-WI of 401 W Peachtree Street NW, Atlanta, GA 30308 the ITIN Acceptance Agent Program includes the following changes made in 2016 and are immediately effective: Certification Process Changes For dependents, Certifying Acceptance Agents (CAA's) will now...
The IRS Office of Appeals offers taxpayers an opportunity to resolve their tax disputes without going to court. Appeals is an independent function within the IRS that provides an impartial review of your tax dispute. Appeals also offers mediation services through Fast Track Settlement and...
New requirements implemented for dependents whose passports lack a date of entry stamp into the U.S. Beginning Oct. 1, 2016, the IRS will no longer accept passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from...