Blog posts from: 2020
What happens to tax basis upon death of a business partner?
Upon an individual's death, the estate must report the tax basis of all assets for estate tax purposes based on their fair market values at the date of death or an alternate valuation date if elected. Assets exceeding their tax...
Charitable donations of virtual currency
According to the IRS, when a charitable organization receives virtual currency, such as Bitcoin, it should classify the donation as a noncash contribution. These contributions need to be reported on a Form 990-series annual return along with Schedule M, if...
ShindelRock brings tax tips for business owners to WJR radio
We're kicking off an 8-week series on WJR-AM radio in Detroit on Monday featuring ShindelRock partner Maria Montie sharing tax tips for business owners. Tune in and let us know what you think!
Guest Author Steven Enwright: Choosing the right corporate structure for your business
Selecting a type of business entity is often the first step in the business establishment process. The choice is often dictated by the short and long term goals of the owners and the eventual operation plan for the business. The...
Understanding the changes to Form W-4
Following the release of the 2020 Form W-4 by the IRS on December 4, 2019, employers should anticipate assisting employees and addressing inquiries about completing the new form, effective January 1, 2020. The new form affects all newly hired employees...
Understanding the key elements of the SECURE Act
The SECURE Act, signed into law recently, introduces significant changes impacting retirement and tax planning starting in 2020. Here are the key provisions affecting individuals: Repeal of Traditional IRA Age Limit: Individuals can now contribute to a traditional IRA regardless...
Valuers and Bankers: Benefits of Cross-Training Between the Professions
ShindelRock Partner David Shindel authored a piece for Business Valuation Resources' January 2020 issue of the Business Valuation Update entitled "Valuers and Bankers: Benefits of Cross-Training Between the Professions." He discusses the many synergies between the two disciplines and benefits...
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