IRS Guidance on Parking Expenses for Qualified Transportation Fringes Provides Opportunities for Exempt Organizations

The IRS has released Notice 2018-99, which provides interim guidance to tax-exempt organizations as to how unrelated business taxable income (UBTI) is ... read more >

Does Santa Pay the Gift Tax? Does Santa Receive Wages of Cookies and Milk?

‘Twas the night before Christmas and all through the house, not a creature was stirring… except for St. Nick’s elf-accountants, who ... read more >

IRS Clarifies Uncertainty Surrounding Lifetime Gifting and Increased Basic Exclusion Amount Under TCJA

Over the past year, Schneider Downs has been busy tracking the drafting, passage and, as of late, the Internal Revenue Service's implementation of ... read more >

When is a Disaster a Tax Deduction?

It’s not your imagination--we are experiencing more weather and climate disasters than ever before. According to the website www.climate.gov, in ... read more >

Is My Home Mortgage Interest Still Deductible?

You’ve probably heard that significant changes have come to the tried-and-true Schedule A itemized deductions methodology we’re all familiar ... read more >

An Inflow of Opportunity: Tax-Free Repatriation of Foreign Source Income from a Controlled Foreign Corporation

For more than fifty years, and subject to many exceptions, U.S. shareholders have been utilizing the controlled foreign corporation (“CFC”) ... read more >