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Tax News for March 2017

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Here are your Articles for March 14, 2017.
  Timely Opportunities
Got nexus? Find out before operating in multiple states
The term "nexus" refers to a business presence in a given state that's substantial enough to trigger the state's tax rules and obligations. This article explores common criteria for nexus and suggests strategic moves to consider. It also looks at a newer approach called "market-based sourcing" that many states are using to tax out-of-state service companies.

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4 tips for donating artwork to charity
Individuals may want to donate artwork so it can be enjoyed by a wider audience or available for scholarly study or simply to make room for new artwork in their home. This article offers four tips for donating artwork with an eye toward tax savings, including getting an appraisal and considering a fractional donation.

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Identifying qualifying children for tax purposes
Every qualifying child claimed on a tax return needn't be a biological child. IRS rules say that a variety of individuals may qualify, under the right circumstances. This article explains why this is important and discusses some of the criteria for identifying qualifying child dependents.

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You've hit the jackpot! Now what?
When it comes to financial planning, most of us spend our time guarding against things that could go wrong. But what if something really good happens? This brief article touches on some of the important concepts of managing a financial windfall.

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