Valuable gifts to charity may require an appraisal

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group of similar items) worth more than $5,000, certain appraisal requirements apply. […]

Are you selling business property? Lets talk taxes.

You want to sell property that was used in your trade or business, but what will the tax consequences of that sale be? The answer: it depends. There are many rules that could potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is […]