Scammer Alert: Beware of False Contact from the IRS.
The IRS is continually working to find and stop scammers – but you still need to be careful. Learn how you can tell a scam artist from the real thing before tax season gets into full swing.
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Food, Fun, and Nonprofit Accounting: How we Help Holy Trinity + Holy Cross and the Greek Food Festival.
Accounting and delicious food are not two words that often go hand in hand, but every October, the irresistible aroma of Greek food and the toe-tapping tempos of traditional Greek music overtake the grounds of the Holy Trinity + Holy Cross Greek Orthodox Cathedral in downtown Birmingham. Where does Borland Benefield fit in? Their Nonprofit…
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Unlock 8 Tax Breaks for Home Ownership
Over the last year, home prices have soared in many parts of the country. In addition to benefitting from an appreciating asset, eligible homeowners enjoy several tax advantages. Here are eight reasons why it’s better to be an owner, rather than a renter, from a federal income tax perspective. Home Sale Gain Exclusion If you…
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Procedural Issues Every Exempt Organization Should Know About.
The IRS is currently inundated with procedural and technical obstacles that have caused processing delays. Here are some items of note that have been reported by exempt organizations and their service providers. Announcement 2001-33 Replaced. Nonprofits should be aware that Announcement 2001-33 is no longer applicable, having been revoked by Announcement 2021-18 (2021-52 IRB 910)…
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Consider Taxes Before Selling a Highly Appreciated Vacation Home
Are you considering selling your vacation home? Are you worried about the tax hit on your profits? Fortunately, the limited federal income tax gain exclusion break CAN apply to vacation homes in some cases.
Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022
The IRS recently announced an increase to the standard mileage rate for qualified business drivers.
Due Diligence Considerations When Selling a Business
Selling a business is a major undertaking. Reconciling your legal, financial, and tax goals requires specialized expertise and finesse. Learn about the ins and outs of this important process.
100 Years and Still Accounting. The History of Borland Benefield
The year 1922 was notable for a number of events in the world, including the formation of the USSR, the first successful insulin treatment, and the first Wimbledon Championship. At the time, Warren G. Harding occupied the Oval Office as the 29th president, the Lincoln Memorial was dedicated and opened to the public, and an…
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Turning Negatives into Positives: Tips on Tax Loss Harvesting
The recent downturn in the stock market brings tax-loss harvesting into play. Read our latest blog to how to turn the negatives to your advantage.
Marathoning Through Life: Lloyd Shelton
Goals are achieved by addressing flaws and committing to overcoming them. Lloyd Shelton, CPA, and shareholder at Borland Benefield, has followed this guiding principle throughout his life. From his younger years to his time as a young CPA to his life-changing push into marathon running, Lloyd achieved his goals thanks to his humility and desire…
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