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Tax Industry

Estate Planning, Wills, Probate, and Transfer of Assets

Wills and Intestacy A will allows the testator (the person creating the will) to specify: Who receives property at the testator’s death. Whether beneficiaries receive gifts outright or in trust. Who will act as personal representative. Who will be the guardian of minor children. In

Charitable Contributions Guide

Charitable Organizations Qualified charitable organizations include nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals. Examples of Qualified and Nonqualified Organizations Qualified• Churches, mosques, temples, synagogues, and other religious organizations.• Boy and

Capital Gains and Losses

Capital Assets Most property you own and use for personal or investment purposes is a capital asset. For example, a house, furniture, car, stocks, and bonds are capital assets. Noncapital Assets A capital asset is any property held by you except the following.• Stock in


Representation Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Although not officially stated, it is the job of an IRS Revenue Agent to conduct

Advance Child Tax Credit

   Advance Child Tax Credit Payments Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will