How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.
Read MoreThe commerciality doctrine was created to address concerns over nonprofits competing at an unfair tax advantage with for-profit businesses. It could trip up your organization if you’re not careful. Read on.
Read MoreThinking about buying a new electric vehicle? While you’re considering factors like acceleration and the range of the battery before recharging, check out the federal tax break that may be available.
Read MoreThe price of gas is down from a year ago. How does this affect the amount your business can deduct for business driving in 2021?
Read MoreA filing requirement is coming up if your business pays independent contractors or makes other payments.
Read MoreIf you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.
Read MoreIt’s not enough to maintain your current supporter base. You also need to grow it. Here are five tips for attracting positive attention with your news releases and other communications.
Read MoreHow can your business benefit from the Consolidated Appropriations Act of 2021?
Read MoreWhether your nonprofit has only a handful, or hundreds, of staffers, communication can easily break down. Here’s how to keep the critical lines between your development and accounting departments open.
Read MoreLearn how provisions of the new Consolidated Appropriations Act can benefit you and your loved ones.
Read MoreBusinesses received several favorable tax breaks in the COVID-19 relief bill that was recently signed into law. Here are just two of them.
Read MoreMedical and dental costs are expensive and it’s hard to get a tax deduction for them. But you may qualify by including every eligible expense allowed. Here’s what it takes to get a deduction and how you might be able to benefit by moving certain expenses into 2020.
Read MoreTis the season for donations! Are you properly substantiating contributions with detailed acknowledgment letters to donors? Here’s what nonprofits need to include in thank-yous.
Read MoreHave you been contributing enough to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the recently announced limits for 2021.
Read MoreSome taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end.
Read MoreIf you’re fortunate to have cashed in some investment gains in 2020, you may be looking for unrealized losses in your portfolio to offset your gains. Selling losing stock may reduce your 2020 tax liability. But be aware of the “wash sale” rule.
Read MoreAs long as the pandemic continues, nonprofit boards must be on their toes. Budgets and financial statements, in particular, may alert your board to impending trouble. Here’s what members should look for.
Read MoreDo you operate your business as an S corporation? Be aware that several elections are available to an S corp. or its shareholders that can affect the basis adjustments caused by distributions and other events.
Read MoreIt may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.
Read MoreHealth Savings Accounts offer a way to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a review at what an HSA could mean for your business, as well as the relevant inflation-adjusted amounts for 2020 and 2021.
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