If you buy property with environmental issues, you may be liable — even if you weren’t responsible for the presence of contaminants. To best protect yourself, be sure to include environmental review as part of your due diligence.
Making charitable donations is a high priority for many individuals and families. Doing so enables them to financially support charitable organizations and causes they believe in and may lower their income taxes.
In 2005, Congress passed the Energy Policy Act. The law created a tax incentive tied to the design or installation of energy-efficient interior lighting, HVAC, hot water or building envelope systems in commercial buildings.
A small custom homebuilder in a growing suburban area was maintaining a modest stream of business. He had enough jobs to keep his crew busy, but not enough to expand. Nearly all of his projects came through referrals from former customers, who recommended his company to their friends and neighbors.
When taxpayers contribute property to charitable institutions, they generally follow up by claiming a charitable deduction on their tax returns. But that deduction isn’t a given — you must comply with the IRS’s strict requirements.
Question: We’re a small employer and would like to make health coverage available to our employees through the Small Business Health Options Program (SHOP). Is there a specific time of the year when we must sign up for this coverage?