| Yes it was. Thanks, Helen! So we need to file in MI then? Can you do that for us? Neal Neal A. Puckett, Esq LtCol, USMC (Ret) Puckett & Faraj, PC 1800 Diagonal Rd, Suite 210 Alexandria, VA 22314 703.706.9566 The information contained in this electronic message is confidential, and is intended for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying of disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Puckett & Faraj, P.C. at 888-970-0005 or via a return the e-mail to sender. You are required to purge this E-mail immediately without reading or making any copy or distribution. On Feb 2, 2011, at 5:09 PM, Lee, Hae Eun (Helen) wrote: Neal, This is what I got from your Quickbooks. It looks like the correct amount is $20,733.65, if this was only account earned in MI. Helen HaeEun (Helen) Lee, CPA Renner and Company, CPA, P.C. 700 North Fairfax Street, #400 Alexandria, Virginia 22314 Office : 703-535-1200 Fax: 703-535-1205 __________________________________________________________________________________________________________________________________________________________________________________________ The information contained in this electronic message is confidential, and is intended only for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying or disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Renner and Company CPA, PC at 703-535-1200 or return e-mail to sender, and purge the communication (e-mail) immediately without reading or making any copy or distribution. Disclosure required by Internal Revenue Service Circular 230: In accordance with Circular 230 Treasury Department Regulations we are required to advise you that any tax advice in this e-mail may not be relied upon to avoid penalties under the IRC. If you are interested in a written opinion that can be relied upon to prevent the imposition of tax related to penalties please feel free to contact us. From: Puckett Neal [mailto:neal@puckettfaraj.com] Sent: Wednesday, February 02, 2011 4:10 PM To: Lee, Hae Eun (Helen) Cc: Atwood Marcy; Trujillo Bethany Subject: Re: Corporate charitable donations Thanks, Helen! On the MI income, could you let me know when you get that exact amount (from the Hamama client) that was earned in MI so we can subtract that from Alexandria income for Alexandria Business tax return which I'm ready to fill out. I'm assuming that the "Actual Gross Receipts) that Alexandria wants does NOT include payments we received for reimbursed client expenses; just income for legal services provided (hourly and flat fees for services). Yes? Neal Neal A. Puckett, Esq LtCol, USMC (Ret) Puckett & Faraj, PC 1800 Diagonal Rd, Suite 210 Alexandria, VA 22314 703.706.9566 The information contained in this electronic message is confidential, and is intended for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying of disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Puckett & Faraj, P.C. at 888-970-0005 or via a return the e-mail to sender. You are required to purge this E-mail immediately without reading or making any copy or distribution. On Feb 2, 2011, at 3:50 PM, Lee, Hae Eun (Helen) wrote: Yes, you can and it will be deductible. Because you are a S-corp, there are certain income (ex: interest income) & expenses (ex: contributions) that flow through to your personal return. So, any charitable contributions made by the corporation will be reported on your K-1 as other deduction (box 10), and it will get deducted on your personal return with other contributions you made personally. Hope I answer your question. Helen HaeEun (Helen) Lee, CPA Renner and Company, CPA, P.C. 700 North Fairfax Street, #400 Alexandria, Virginia 22314 Office : 703-535-1200 Fax: 703-535-1205 __________________________________________________________________________________________________________________________________________________________________________________________ The information contained in this electronic message is confidential, and is intended only for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying or disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Renner and Company CPA, PC at 703-535-1200 or return e-mail to sender, and purge the communication (e-mail) immediately without reading or making any copy or distribution. Disclosure required by Internal Revenue Service Circular 230: In accordance with Circular 230 Treasury Department Regulations we are required to advise you that any tax advice in this e-mail may not be relied upon to avoid penalties under the IRC. If you are interested in a written opinion that can be relied upon to prevent the imposition of tax related to penalties please feel free to contact us. From: Puckett Neal [mailto:neal@puckettfaraj.com] Sent: Wednesday, February 02, 2011 2:23 PM To: Lee, Hae Eun (Helen) Cc: Atwood Marcy Subject: Corporate charitable donations Helen, Can our corporation make a tax deductible cash contribution to a charitable organization? Neal Neal A. Puckett, Esq LtCol, USMC (Ret) Puckett & Faraj, PC 1800 Diagonal Rd, Suite 210 Alexandria, VA 22314 703.706.9566 The information contained in this electronic message is confidential, and is intended for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying of disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Puckett & Faraj, P.C. at 888-970-0005 or via a return the e-mail to sender. You are required to purge this E-mail immediately without reading or making any copy or distribution. |