Create, Edit or Delete Recurring Transactions
Many invoices, rent payments, or journal entries consistently recur from month to month. Never miss a transaction again by creating “memorized transactions.” How to Create a Memorized Transaction in Desktop Enter the transaction the way you want it memorized, but do...
The Tax Cost of Divorce Has Risen for Many
Are you divorced or in the process of divorcing? If so, it’s critical to understand how the Tax Cuts and Jobs Act (TCJA) has changed the tax treatment of alimony. Unfortunately, for many couples, the news isn’t good — the tax cost of divorce has risen. What’s Changed?...
Nonprofit Tax Tidbits: Form 990 Schedule L
The next installment in our series on the schedules of the IRS Form 990 focuses on Schedule L, Transactions with Interested Persons. Schedule L provides information on certain financial transactions between the organization and interested persons. There are four...
Double Up on Tax Benefits by Donating Appreciated Artwork
The first thing to keep in mind if you’re considering a donation of artwork is that you must itemize deductions to deduct charitable contributions. Now that the Tax Cuts and Jobs Act has nearly doubled the standard deduction and put tighter limits on many itemized...