If you’re fortunate to have an employer offering a 401(k) plan, you may wonder if you should participate. Here are the basic features of these plans.
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Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a certain threshold aren’t subject to Social Security tax. The “wage base” for 2022 was recently announced.
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Much can change over one’s lifetime (personal circumstances and tax laws), making estate planning difficult. Building flexibility into your plan is key.
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Having trouble fundraising in today’s fraught environment? Make sure your nonprofit’s stakeholders, particularly its board members, are making personal appeals.
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In 2021, if you pay a household worker cash wages of $2,300 or more, you must withhold and pay Social Security and Medicare taxes. Learn about what this amount will be for 2022, as well as the tax obligations for household workers.
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Your business may gain substantial tax benefits with a cost segregation study, but they’re not right for everyone. Here’s how this strategy can help accelerate depreciation tax deductions on the building that houses your operation.
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Choosing the “wrong” executor could cause a multitude of problems for your family.
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In the past, nonprofits that wanted to merge with another entity or enter into a joint venture faced a difficult process. Now, restructuring can be as easy as completing an annual Form 990. Learn more.
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A special federal income tax break is available if you rent your vacation home for less than 15 days during the year. Here are the rules.
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With fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
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The IRS has announced the special “per diem” rates that became effective Oct. 1, 2021. Here are the basics of these rates.
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Underestimating the impact of state estate taxes can upend your estate plan.
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Financial pitfalls and cultural misunderstandings can imperil a nonprofit’s international expansion plans. Before you seek donations or new members abroad, address these questions.
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Are you an artist or collector interested in donating artwork to charity? Here are the basic rules to claim a tax deduction for your generosity.
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With fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
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Whether you win money gambling online, playing at a casino or participating in a sports betting activity, there are tax implications. Here are the basic rules that winners should understand.
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To ensure your endowment’s investment portfolio has the right risk/reward profile, look for an investment advisor with nonprofit experience. We provide tips on finding the best professional for the job.
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Building your wealth around a single stock can be risky for both your investment plan and your estate plan.
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Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
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If you’re an employee, you may be able to get a Health Savings Account with your employer. You can also open one of these tax-saving accounts through some banks and other financial institutions. Here are the basic rules.
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