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Tax Treatment of the Sale of Social Club Assets Upon Liquidation

Since 1916, Congress has exempted from income taxation clubs formed to facilitate social interaction between its members.  As a result, country clubs, hunting and fishing clubs, college sororities and fraternities, and...more

Retirement Plan Contribution Limits Will Increase in 2020

The Internal Revenue Service announced on Wednesday, November 6, that several contribution limits in qualified retirement plans will increase next year. The IRS announced the increases as part of an annual adjustment for...more

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