We were honored to host the BBB Middle TN Advisory Board meeting at our office today. Today’s meeting included leaders from BBB Middle TN, Total Trans4mation Heating and Air Conditioning, Redstone Federal Credit Union (South Rutherford), and Beaman Dodge Chrysler Jeep Ram Fiat. If you’re not a BBB member, contact Terrie Page at tpage@gobbb.org to find out what you are missing!
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Form 990 for non-profit organizations with a December 31 year end are due May 15. An extension can be filed to give the non-profit more time to file. Generally, Form 990’s are due 5 months and 15 days after a non-profit organization’s year end. A complete list of non-profit year ends and due dates can be found here. If you aren’t sure which 990 your organization needs to file, a list and information for all Form 990s can be found here.
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IRS Tax Tip 2018-112 gives advice for claiming the home office deduction: Regular method This method requires computing the business use of the home by dividing the expenses of operating the home between personal and business use. Direct business expenses are fully deductible and the percentage of the home floor space used for business is assignable to indirect total expenses. Simplified method The simplified method has a prescribed rate of $5 a square foot for business use of the home. There is a maximum allowable deduction available based on up to 300 square feet. Choosing this option requires taxpayers to
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