Claiming Qualified Real Estate Depreciation Deductions

Beyond Section 179, learn what real estate deductions you can claim, from equipment and furniture to qualified improvement property (QIP) interior improvements.

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Deductibility of Corporate Expenses Paid Personally

Understand how corporate expenses charged personally should be handled for both the individual and corporation.

Read Deductibility of Corporate Expenses

Cash Payments in Access of $10,000 Need Reporting

When receiving a cash payment of $10,000+ you are required to report the transaction on Form 8300 and keep a record of the transaction for at least 5 years as required by the IRS.

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IRS Releases HSA Contribution Limits for 2024

The IRS has released the 2024 HSA contributions limits that have been adjusted for inflation.

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Related article:
Employee Benefit: Education Assistance Fringe Benefit Programs

📣Firm News

Managing Partner Named to Buffalo Business First Woman of Influence 2023, Community Supporter

Congratulations to Sara Dayton!  She is being recognized for  her volunteer efforts with the SPCA Serving Erie County, Buffalo Erie Marathon Association, and Cradle Beach Camp.

2023 Exempt Organizations Conference Announced

CPAs Earn up to 6.0 Hours of CPE Credit at the 2023 Lumsden McCormick Exempt Organizations Conference.

Firm Clients - Sign-up for eBilling

You can now make online payments to Lumsden McCormick invoices using ACH/bank transfers or via credit card.

Lumsden McCormick Temporary Offices

While we renovate our Cyclorama Building offices, we have moved to 50 Fountain Plaza in Downtown Buffalo.