Author Archives: Stanley Paletta

The Tax Code and its regs impose substantiation requirements that become more rigorous as the items of donated property increase in value. The basic rules are summarized in brief, below: Donations of money. A bank record or a written communication … Continued

Loans between shareholders and closely held corporations are subject to special tax scrutiny and if not properly documented, can produce adverse tax results. Loans from corporations to shareholders are the subject of an IRS Audit Technique Guide that stresses the … Continued