Tax and Business Alert - September 2014



Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Please contact us if you have questions about any of the issues discussed.

IDENTIFYING CHARITIES ELIGIBLE TO RECEIVE TAX DEDUCTIBLE CONTRIBUTIONS
Those who are counting on a federal income tax deduction for donating to a charity should confirm that the charity has been approved by the IRS as a tax-exempt organization eligible to receive deductible contributions. This article offers step-by-step instructions for doing so via the IRS's "Exempt Organizations Select Check" tool. Read more...

DEDUCTING MEDICALLY NECESSARY HOME IMPROVEMENTS
Certain home improvements made to accommodate a disabled condition do not usually increase the value of the home, and the cost can be included in full as deductible medical expenses. This article lists a number of such improvements. Read more...

UNNEEDED LIFE INSURANCE POLICIES COULD BE A SIGNIFICANT SOURCE OF CASH
Circumstances change and sometimes people find that they no longer need, or perhaps can no longer afford, life insurance policies that were taken out several years ago. This article explains why selling a policy can sometimes net the policyholder a sufficient sum that's far in excess of a whole life policy's cash surrender value or a term policy's unearned premium. Read more...

PAYING PARTNERSHIP EXPENSES
This article describes when a partner may be able to deduct certain partnership expenses as trade or business expenses on his or her personal return. Read more...

SMALL BUSINESS RESOURCES
This article offers small business owners a list of organizations that may have tools, information, and other resources to help their business grow. Read more...

WEDDINGS MEAN TAX CHANGES
There are important tax issues created by a marriage that warrant some prompt attention following the wedding. This article notes, in particular, changes in name, address, tax withholding, filing status and other circumstances. Read more...

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax-related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax-related matter addressed herein. © 2014