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Month: January 2015

California Unclaimed Property

California Unclaimed Property

The California State Controller has made it easier for folks who may have left some “unclaimed property” in the hands of the state to get the money back. The Controller has put into place an “eClaim” process for use by owners to claim accounts worth up to $1,000 (previously $500).  This electronic procedure allows folks to file a claim online instead of using the previous paper form filing process. Check out www.sco.ca.gov for more details.

Hey, All Those Cat Videos Have Helped Nonprofits Serving Animals!

Hey, All Those Cat Videos Have Helped Nonprofits Serving Animals!

One of the biggest questions currently on the minds of nonprofit development staff is, “How do we effectively use the Internet and social media to get our message out?” (See Nolo’s articles on Nonprofit Fundraising for more on this topic generally.) Sometimes, just getting heard amid all the noise is nigh on impossible. Email open rates, for example, reportedly declined 4% from 2012 to 2014, such that only 13 people out of the hundred on your list will so much as view what…

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Home Mortgage Debt Forgiveness Exclusion Extended

Home Mortgage Debt Forgiveness Exclusion Extended

A discharge of indebtedness generally results in the recognition of gross income.  Under the “mortgage forgiveness exclusion” which otherwise applied to debt discharged before January 1, 2014, any discharge associated with “qualified principal residence indebtedness” was excluded from gross income up to $2 million of debt on a joint return.  The debt must have been used to acquire, construct, or substantially improve the taxpayer’s principal residence, or to refinance the debt and must have been secured by the residence. Under…

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