The July 2010 article “Charitable Planning” mischaracterized the effect of unrelated business taxable income (UBTI) received by a charitable remainder trust (CRT). For tax years beginning after Dec. 31, 2006, UBTI would not cause a CRT’s income from sources other than UBTI to become taxable. UBTI itself, however, is subject to a 100% excise tax.
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Tax reform complicates year-end tax planningGet your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.
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What RPA is and how it worksRobotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.