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Posts Tagged tax laws

Individual’s Ministry and Writing Activities Not Deductible

Recently the tax courts disallowed the losses a minister claimed on his income tax return for ministry and book writing expenses. The Court ruled that because the minister did not engage in his ministry and book writing activities primarily for profit, the deductions attributable to the activities were limited to the gross income he derived […]

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Tax Information for Charitable Organizations

Looking for resources to help you better understand tax and compliance related issues applicable to your ministry? Here are a few links to useful sites as published by the IRS. Of course, if you would rather speak directly to someone who can answer your questions feel free to contact our office for assistance. Better yet, […]

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Posted in: Bits & Pieces

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2016 Tax Return Filings and ACA Health Care

If you have yet to file your 2016 personal tax returns and you did not have medical insurance for the entire year of 2016 you may be interested in to learn that the IRS has announced that it will process individual returns that do not report the taxpayer’s health coverage status under the Affordable Care […]

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Posted in: Healthcare Reform, News

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Tax Implications of Crowdfunding

In an information letter published in July of 2016, the IRS explained its current position on the tax treatment of crowdfunding by looking to general principles of income inclusion. In the Letter the IRS explained that under Code Sec. 61(a), except as otherwise provided by law, gross income includes all income from whatever source it […]

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