Qualified Charitable Distributions

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The tax code permits “qualifying charitable distributions” from traditional IRA or Roth IRA accounts to be excluded from gross income. It is a powerful incentive to charitable giving, and through the use of life insurance, the ultimate amount the charity receives can be substantially increased.   What is a “qualifying … Continued

Several significant tax law changes took effect in 2016 that may affect your business’s federal tax filings in 2017. As the year draws to a close, we should review these changes, as well as your business’s projected taxable income or loss to see what actions might be appropriate before year … Continued

While little happened in the way of tax legislation in 2016, there are certain tax breaks from which you may benefit and certain strategies that can be employed to help minimize taxable income and your federal tax liability.   For 2016, the top tax rate of 39.6 percent will apply … Continued

The site’s homepage features an uncluttered design and our newly designed logo. We wanted to make the new website faster, easier to navigate, and more user-friendly.   As a leader, it’s important for us to make information regarding tax and legal issues, estate planning and business trends easily accessible for … Continued

Taxpayer Who Didn’t Meet Common-Law-Marriage Test Had to Use Single Filing Status While a taxpayer satisfied four of the five elements of Oklahoma’s common-law-marriage test, there was no evidence that he and his live-in girlfriend held themselves out as married in any formal settings and, thus, his filing status was … Continued