The tax deduction ins and outs of donating artwork to charity

| Tax Briefs

If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax deduction and avoid the capital gains taxes you’d owe if you sold the property. The extra benefit from donating artwork comes from the fact that the top long-term capital gains rate for art and other “collectibles” is 28%, as opposed to 20% for most other Read more [...]

The IRS Releases Interim Guidance for Business Meals

| Alerding Alerts

Before the Tax Cuts and Jobs Act, taxpayers generally could deduct 50% of expenses for business-related meals and entertainment. But meals provided to an employee for the convenience of the employer on the employer’s business premises were 100% deductible by the employer and tax-free to the recipient employee. Under the new law, for amounts paid or incurred after December 31, 2017, the deduction for business-related entertainment, amusement, or recreation are disallowed completely.  However, Read more [...]

Tax planning for investments gets more complicated

| Tax Briefs

For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year-end to save taxes. This year, you also need to keep in mind the impact of the Tax Cuts and Jobs Act (TCJA). While the TCJA didn’t change long-term capital gains rates, it did change the tax brackets for long-term capital gains and qualified dividends. For 2018 through 2025, these brackets Read more [...]

Alerding CPA Group named to inaugural IPA Top 400 accounting firms in the nation

| Business Miscellaneous, News

FOR IMMEDIATE RELEASE (INDIANAPOLIS) – The directors of Alerding CPA Group, an Indianapolis-based certified public accounting firm, are pleased to announce that the firm has been named to INSIDE Public Accounting’s (IPA) inaugural Top 400 firms in the country. IPA 400 firms are ranked by U.S. net revenues and are compiled by analyzing responses received from its annual surveys completed by firms across the country. Unlike firms on the IPA 300 list, IPA 400 firms range in size from $4.55 Read more [...]