Current Events: Law

Recent Answers

2012-02-09 Nonprofit Law - high school music boosters/fundraising/student accounts:

My summary of IRS regulations relating to 501c3 booster organizations is at:  http://goo.gl/9b573  and you may be interested to read that as it explains the issues you inquired about.  Specifically, note

2012-02-09 Tax Law (Questions About Taxes) - Selling farm land:

When you receive something as a gift you also are given their basis, plus any gift taxes paid, if any. So yes you would be looking back to what your father paid for it. If you had indeed inherited it you

2012-02-08 Nonprofit Law - Tax Write Off for the Use of Land:

See IRS Publication 526 "Charitable Donations" which is available  at www.irs.gov/pub/irs-pdf/p526.pdf  especially on page 9 the IRS writes about "partial interests" under  the heading "Partial Interest

2012-02-08 Tax Law (Questions About Taxes) - Per Diem:

Tammy,    Thanks for your question.    No, you cannot take a deduction as you are being paid for them.  If your actual expenditures exceed the per diem amounts, you can deduct those as miscellaneous itemized

2012-02-08 Construction Law - Drawing descrepancies:

Good Morning  The question of precedence of documents is usually set down in the conditions of contract.  If this does not answer the case then the following rules will usually apply.  1. Written text