When it comes to vehicle expense tax deductions and costs related to other listed property, as well as travel and entertainment expenses, the law is clear and strict on required documentation. And, there is little wiggle room. Here is an example from a court case (Lee Anthony Baker, T.C. Memo. 2014-122).
U.S. charities are now more than ever diversifying their investment portfolios to include foreign investments, especially foreign program-related investments. They are also offering services on the ground in foreign countries with essential charitable programs.
No prohibition exists against a 501(c)(3) organization using the internet for fundraising, the IRS said in a recently released information letter. Web or email fundraising should comply with the same rules that apply to other solicitations. Since most organizations do some sort of internet solicitations, organizations must be cautious and aware of the requirements. IRS examination guidelines and the recent...
Originally imported from Japan in the 1980s, lean manufacturing continues to play a key role in every successful U.S. manufacturer. Lean companies make their products as efficiently as possible, using the least possible staff time, equipment and working capital.
National Safety Month focuses on preventative measures that employees can take to maintain an accident-free workplace. In keeping with that mission, here are some best practices provided by Liberty Mutual that you can incorporate into your daily routine to ensure the safety of you and your colleagues.
It’s common for manufacturers and distributors to be family-owned. Unfortunately, it’s also common for owners to let estate planning fall by the wayside, causing family members to lose out on tax-saving opportunities.
The American Taxpayer Relief Act of 2012 (ATRA) brought some certainty to estate planning — but the current calm could be disrupted by future tax reform efforts on Capitol...
In our Spring 2013 Navigator, we introduced you to two common charitable planning tools: Donor Advised Funds (“DAF”) and Private Foundations. The article focused on the various tax planning opportunities for those interested in more systematic and managed philanthropic giving. One of the top reasons individuals decide to establish a Private Foundation over contributing to a donor advised fund relates...
The Internal Revenue Service announced higher limits for 2015 on contributions to health savings accounts (HSAs). Issued on April 24, 2014, the IRS states in Revenue Procedure 2014-30 the inflation-adjusted HSA contribution. The higher rates reflect a cost-of-living adjustment and rounding rules under Internal Revenue Code Section 223.
By: Dennis Goebel
Vice President, Liberty Mutual Insurance Company
A 2008 study by the National Highway Traffic Safety Administration (NHTSA) indicated that at any given moment during daylight hours, more than 800,000 vehicles were being driven by someone using a hand-held cell phone. During that same year, nearly 6,000 people died and a half-million others were injured in car...
A principal premise of the Patient Protection and Affordable Care Act is that the expansion of primary care services will both improve the American public’s health and help constrain the cost escalation of health care overall — now approaching 18% of the GNP. In addition, provisions of the act will likely increase reimbursement for primary care practices.
The U.S. Equal Employment Commission (EEOC) recently issued details of acts of religious discrimination that employers with more than 15 workers must avoid with respect to religious dress and grooming of their employees.
The following table shows how the costs to business have risen over the same time period in millions of dollars:
From roofing to flooring, “eco-friendly” materials and devices can help you save money when you’re maintaining, repairing or improving your home. Even better, they help save the environment. Join the Green Revolution and consider these simple ways to conserve energy and other natural resources.