MightyVet granted nonprofit statusAugust 1, 2019MightyVet has been recognized as an official public charity by the IRS. The continuing education platform’s new tax-exempt status under Section 501(c)(3) of the United States Internal Revenue Code (IRC) means donations it receives are now fully deductible.
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AVMA seeks change for veterinarians in light of income tax deductionOctober 15, 2018A request by the American Veterinary Medical Association (AVMA) for veterinary practices to benefit from the pass-through income tax deduction without income limits was submitted to the U.S. Department of Treasury and the Internal Revenue Service (IRS).
Veterinary small business owners reap pass-through income tax deductionAugust 15, 2018The American Veterinary Medical Association reported that veterinary small business owners will be able to take advantage of the new “pass-through” income tax deduction for the salaries they pay themselves. The U.S. Treasury Department and Internal Revenue Service (IRS) last week released proposed regulations detailing how they plan to apply the deduction, which is available to sole proprietorships, partnerships, trusts, and S-corporations under Section 199A of the tax …
