Tax Planning: U.S.

Recent Answers

2009-11-22 Tax Law (Questions About Taxes) - Church tax question:

Gordon, Thanks for your question. The sale and subsequent collection of interest from the pastor would not subject the church to any income tax. Renting the property to a not-for-profit organization

2009-11-22 Tax Law (Questions About Taxes) - Hope credit:

Cara, Thanks for your question. The Hope Credit was only for two years, but was changed to the American Opportunity Tax Credit and expanded to 4-years. So you are not eligible for that. However

2009-11-22 Nonprofit Law - Soccer Booster Club:

If the size of the team is reasonably large then the IRS should grant exemption and payments as you mentioned would be fine as long as the hotel costs are for the team and not for the parents. Uniforms

2009-11-22 Tax Law (Questions About Taxes) - claiming a loss:

Valerie, Thanks for your question. If the house was a personal residence, the loss or the interest is not deductible. If it was a rental or business property, the loss would be deductible, as would

2009-11-21 Nonprofit Law - employer demands employees volunteer:

I have in my profile that this free forum is only for relevant IRS federal exemption issues of 501(c)(3) organizations.Your issue is controlled by state law and states may differ somewhat with how they