April 18 isn’t only the income tax return deadline. It’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2021 gift tax return this April. (Note: you may want to file one anyway).
Read MoreIf you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.
Read MoreLifetime giving is a smart strategy to reduce your taxable estate, but the gift tax rate of 40% is steep. Making a “net gift” can potentially reduce your effective gift tax rate.
Read MoreIn general, married couples who file jointly save more money on taxes than those who file separate returns. However, there are situations when filing separately is a better option.
Read MoreDid you know that you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF.
Read MoreDividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.
Read MoreEnterprise risk management usually is associated with for-profit businesses. But nonprofits can also benefit from this program that compares risks and strategically deploys resources.
Read MoreIf you’re deducting a charitable contribution on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t yet received a letter for a charitable donation you made in 2021? Here are the rules.
Read MoreMany small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity
Read MoreIf you receive payments through services such as Venmo or PayPal, be aware that there are new tax reporting requirements beginning this year.
Read MoreIt’s no secret that this is a job applicant’s market. So if your nonprofit is trying to find staffers, you may need to put extra effort into recruiting. We offer some tips.
Read MoreDo you need to file a gift tax return this year? It depends on the type of gifts you made.
Read MoreTraditional or Roth IRA? Here are the differences in these retirement savings accounts.
Read MoreEntrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized over time.
Read MoreHelp speed processing and avoid hassles this tax season with these tips.
Read MoreIs now a good time for your nonprofit to launch a capital campaign? For starters, you’ll need supportive stakeholders and strong leadership. Here are some other essentials for a successful campaign.
Read MoreAppointing the right trust protector is critical. Given the power he or she has over your family’s wealth, you’ll want to choose someone whom you trust and who’s qualified to make financial decisions.
Read MoreA careful approach to keeping business records can protect your tax deductions and help make an IRS audit much less difficult. Here are two cases to illustrate some of the issues involved.
Read MoreWant to get your tax return sooner and protect yourself from tax identity theft? File your tax return early
Read MoreHow much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.
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