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Happy Independence Day!
If you are looking for a great way to spend time as a family and help
others,
check
out the A’s game on July 27! They are having 1960’s day at the ballpark
with music and uniforms
from
that era. A portion of ticket proceeds will go to “Drivers for
Survivors”. They help cancer patients
get
to and from their treatment appointments.
If
you decide to go, make sure you read the article on how to properly take
credit for your donation.
Congress
has made changes recently regarding how to document charitable donations
that are fairly
specific
and can result in strong penalties if not followed.
Summer
is the best time of year to start getting your bookkeeping in order so
that you are well prepared
for
tax season next spring. Call us to schedule a thorough evaluation and
assessment of what we can do
to
make that happen for you!
Wishing
you all safe and fun filled summer days!
Sincerely,
Holly DeVito
Sum of All
Numbers
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Drivers for
Survivors A's Game
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Blast back in time to
1969!
The
A's will feature music and fashion from the 1960s throughout the ballpark, and the A's and Angels
will wear throwback uniforms from the era. Come to the game, help
support Drivers for Survivors, and have a far-out time.
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Here, provide contact information if invitees have
any questions about the event or how to register.
Finally, thank them for their attention and
response, and tell them you look forward to seeing them at your
event.
Sincerely,
Jan Vincent/Cherie Tarantino
Drivers for Survivors
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Documenting
Charitable Contributions
A frequently
asked question is, “What records are required for charitable
contributions?” In recent years, Congress has passed stringent
recordkeeping rules for charitable contributions as well as harsh
penalties for understating taxable income. The following is a summary of
the recordkeeping rules currently in effect for a variety of contribution
types. This list is not all-inclusive, so if you don’t see rules that
apply to your particular situation, please give our office a call.
Receiving
Inventory With or Without Bills in QuickBooks
When
your goods come rolling in, be sure to document them correctly.
You’re
probably happy to see couriers delivering inventory items you’ve ordered
since it means you can ship to customers, but recording the new stock
means yet another repetitive task.
QuickBooks’
tools can help with this, but you need to be sure you’re using the right
forms. There are two different ones that you’ll use, depending on whether
or not you’ve received a bill.
Flipping Homes -
A Reviving Trend in Real Estate
Prior to the
recent economic downturn, flipping real estate was popular. With mortgage
interest rates low and home prices at historical lows, flipping appears
to be on the rise again. House flipping is, essentially, purchasing a
house or property, improving it, and then selling it (presumably for a
profit) in a short period of time. The key is to find a suitable
fixer-upper that is priced under market for its location, fix it up, and
resell it for more than it cost to buy, hold, fix up and resell it.
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