Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs.  Please contact us if you have questions about any of the issues discussed.

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Education Tax Credits

IRS's Information on Exempt Charitable Organizations

Excluding a Residence Sale Gain Following Divorce

Reporting Barter Transactions

Important Information

 

 

 

Education Tax Credits

We continually hear and read reports on the escalating cost of higher education. However, two tax credits are available to provide some relief for taxpayers who are paying these education costs for themselves or family members.

IRS's Information on Exempt Charitable Organizations

The IRS recently launched a new online search tool entitled "Exempt Organizations Select Check."

Excluding a Residence Sale Gain Following Divorce

A residence is often a married couple’s most significant asset. As a result, monetary and tax considerations for property settlements related to the marital residence are usually extremely important to divorcing taxpayers.

Reporting Barter Transactions

Bartering is one of the most ancient forms of commerce and involves the trading of a service or product for another. While our ancestors may have traded corn for eggs, today we might barter an auto repair for lawn service.