The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

Give Back and Save Taxes with Charitable Contributions

The holidays are right around the corner, and it’s not surprising that charities receive the bulk of their donations in the last two months of the year. Are you feeling grateful and generous? Here’s some important information about the tax benefits that come with donating to a good cause. But, beware, not everyone or every contribution qualifies for a tax break.

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Seniors: Consider Making Cash Donations from IRAs

If you’ve reached age 70, and you’re philanthropically inclined, you can make cash donations to IRS-approved charities out of your IRA. These so-called “qualified charitable distributions” (QCDs) can save taxes, but you must take action by December 31, 2017, to benefit for 2017. This article explains the rules.

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Recent Incidents Fuel Concerns over Breach Response

From employees’ Social Security numbers to consumers’ credit card numbers, organizations possess a lot of valuable data. Hackers can breach an organization’s IT systems, steal sensitive data and use it to, say, access bank accounts, apply for credit or file for a bogus tax refund. If your organization gets hacked, how and when should you respond? Recent legislation is calling for stricter reporting guidance.

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How to Save Tax with an Installment Sale

Installment sales are often used to help complete a deal between a buyer and seller of real property. As an added bonus, they also offer three tax advantages to the seller. Here are the tax rules for installment sales, details on how this deal structure can sometimes save taxes when one is selling real estate, and reasons why installment sale treatment might not be the best option for every transaction.

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Coming Soon: Deadline to Reverse 2016 Roth Conversions

Hindsight is 20/20. If you converted a traditional IRA to a Roth IRA in 2016 but now regret your decision because the account’s value has decreased significantly, there’s still time to regroup. October 16, 2017, is the deadline for reversing any Roth IRA conversions made in 2016. Here’s why you might want to reverse a Roth conversion and how a reversal is executed.

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Federal Contractors Get a Minimum Wage Increase in 2018

The U.S. Department of Labor’s Wage and Hour Division (WHD) recently announced that the minimum wage rate for federal contractors will increase by 15 cents per hour, effective January 1, 2018. This article reveals the new minimum wage rate, and details what non-federal contractor employers in various states must pay staff members and tipped employees.

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Could Travel Per Diems Simplify Employee Expense Reimbursements?

Submitting expense reports can be tedious and time-consuming for employees who travel. While on the road, they must collect paper receipts and record the details of business meals. Fortunately, the IRS offers simplified methods for reimbursing employees’ travel costs that involve the use of travel per-diem and “high-low” rates based on location. Here’s an explanation of how these methods work, as well as a summary of the changes that go into effect starting on October 1, 2017.

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