New rules for nonprofits to report gifts in kind (such as land or services) take effect for annual periods starting after June 15. So if you haven’t already familiarized yourself with the rules, now’s the time.
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Americans got extra time to file their tax returns this year, but the deadline is looming. Here’s what to do if you’re not ready.
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Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ensure the fringe benefit is tax free to employees.
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What could President Biden’s tax proposals mean for you? Here’s a brief rundown of the “American Families Plan.”
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The IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
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Why don’t your nonprofit’s interim and year-end financial statements match? It may come down to cash basis vs. accrual accounting. Here’s how to minimize the need to make adjustments.
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There’s a great deal of interest in alternative energy technologies today. If your business invests in certain equipment or property, what are the federal tax benefits? This article explains.
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Many nonprofits are wary of adding expensive insurance coverage. But a directors and officers (D&O) policy can protect board members from financial liability and ultimately save money.
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Many tax changes have been enacted recently to help mitigate the financial damage caused by COVID-19. They may affect you if you collected unemployment last year or if you buy health insurance through a “Marketplace.”
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To keep executive compensation deductible, C corporation owners want to ensure it’s reasonable. Otherwise, it could be deemed a dividend. Here’s why it matters.
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When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
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Small business owners are sometimes reluctant to set up retirement plans because of the administrative burdens. Here are two options to consider that have less stringent requirements than traditional qualified retirement plans.
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Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
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After this past year, you and your nonprofit’s board may think they can overcome any financial challenge. But don’t get too comfortable. These financial warning signs merit immediate attention.
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Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest on the popular loan program.
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Life insurance benefits can help loved ones after your death. But you may want to keep proceeds from a policy out of your taxable estate. Here are some considerations.
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The nice weather and the general downturn in COVID-19 cases has spurred some business owners to think about buying a car this spring. Here’s an option that may save on taxes.
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Without a whistleblower policy, your nonprofit could learn about illegal or unethical internal activities only after media, law enforcement or regulators do. Adopting a policy is relatively easy. Here’s how.
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Child care is expensive. The newly enhanced child and dependent care credit may help for 2021.
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Is your business taking full advantage of the Employee Retention Credit?
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