Line 6 a-c: The ONLY option available for donation tax is 6b. Do not make any other selections in points 6 to 8. The IRS defines a gift as «any transfer to a person, directly or indirectly, where no full consideration is received in return.» In other words, if you write a big check,…
Do you differentiate between HIPAA privacy regulations, use, and disclosure of information? Hipaa (Health Insurance Portability and Accountability Act) of 1996 (HIPAA), Public Law 104-191, was enacted on August 21, 1996. HipAA Sections 261 through 264 require the HHS Secretary to publish standards for the electronic exchange, privacy, and security of health information. Together,…
A «reasonable person» is a hypothetical person who approaches each situation with appropriate caution and then acts reasonably. This is a standard created to provide courts and juries with an objective test that can be used to decide whether a person`s actions constitute negligence. That doesn`t mean they have to be perfect. Mistakes are…
The IRS recommends that taxpayers refer to their previous tax returns as long as the annual profits match the year for which you file an S-Corp extension. You can use your previous year`s income, deductions and credits as a starting point for calculating your estimated taxes. If for some reason you are unable to…
This is the second article in a three-part series on the evolving relationships and roles of hotel owners, management companies and their directors. In the first article in this series, we look at how involved hotel owners are in real estate decisions. Depending on the type of agreement between the parties, the operator and…