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06 Nov

A Fresh Look at Donor-Advised Funds: What Every Nonprofit Should Know

Nonprofits and Donor-Advised Funds | Spire Group, PC Donor-advised funds (DAFs) are growing in popularity, so it’s important that nonprofit leaders familiarize themselves with how to use DAFs as a funding source. A recent report from the National Philanthropic Trust (NPT) estimates that nonprofit contributions from DAFs increased nearly 10 percent between 2015 and 2016. […]

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18 Oct

5 Ways Nonprofits Can Offset Loss of Deductions

5 Ways Nonprofits Can Offset Loss of Deductions | Spire Group, PC Because of the enactment of last year’s Tax Cuts and Jobs Act, fewer taxpayers will use itemized deductions on future tax returns. Although this could mean a reduction in charitable giving, your nonprofit may have options for mitigating any potential revenue loss from […]

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11 Oct

What Should Business Owners Know About the Section 199A Deduction?

What Business Owners Should Understand About the Section 199A Deduction | Spire Group, PC The Tax Cuts and Jobs Act of 2017 (TCJA) made comprehensive changes to the tax code. It’s not surprising that the IRS is in the process of making clarifications to these changes, including proposed regulations for the complex Section 199A deduction. […]

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23 Aug

5 Things Nonprofits Should Understand About the Effect of Tax Reform on Charitable Giving

Effect of Tax Reform on Charitable Giving | Spire Group, PC The Tax Cuts and Jobs Act (TCJA) enacted in late 2017 significantly changed the federal tax code. While the changes will affect individuals and businesses of all types, the nonprofit sector needs to carefully monitor how the new law impacts their finances and operations. […]

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21 Aug

Tax Reform’s Changes to the Child Tax Credit

Tax Reform’s Changes to the Child Tax Credit | Spire Group, PC The Tax Cuts and Jobs Act is being touted as pro-taxpayer legislation, and it’s easy to see why – the tax rates have been lowered, the AMT exemption has grown, and the standard deduction has almost doubled. However, the recent tax reform also […]

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03 Jul

Exploring Tax Reform’s Impact on the Real Estate and Construction Industry

Tax Reform and Real Estate/Construction | Spire Group, PC The Tax Cuts and Jobs Act (the Act) was signed by President Trump at the end of 2017. This legislation is far-reaching and encompasses an array of complex issues. All industries are affected by the Act, and the real estate and construction industry is no exception. […]

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27 Jun

Are My Home Equity Loans Still Deductible?

Even though the tax reform package was passed six months ago, we are still figuring out exactly what these changes will look like on our tax returns. One of these changes is now a bit easier to understand thanks to the IRS. You heard that right – the IRS recently released helpful information on the […]

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01 May

Historic Tax Credits Escape Extinction With Few Exceptions

Historic Tax Credits Escape Extinction—Few Modifications to Know Real estate professionals should feel relieved—while historic tax credits (HTCs) were on the chopping block during tax reform debates, the valuable tax credit was, for the most part, left intact in the final Tax Cuts and Jobs Act. In deciding to keep the major benefits of HTCs […]

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26 Apr

New Year, New Tax Brackets

How Tax Brackets Have Changed The tax plan that was passed late last year has been all over the news lately, which should come as no surprise; it represents the biggest change to U.S. tax code in almost 30 years. While tax brackets have shifted slightly over the years and are updated regularly for inflation, […]

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