If you’re considering making gifts to, or for the potential benefit of, your grandchildren or other “skip persons,” you’d be wise to account for the generation-skipping transfer (GST) tax in your estate plan.
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In some cases, disability income is taxable by the federal government. In other cases, it isn’t. Here are the rules.
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Buying or selling a business may be the most critical transaction you ever make. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Here are some considerations.
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Even if your nonprofit has a long-established spending policy, financial challenges may warrant a review. We look at five common types of policies, as well as their pros and cons.
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Rather than keeping track of your actual vehicle-related expenses, you may be able to use a standard mileage rate to compute certain tax deductions. But when are individual taxpayers eligible to deduct vehicle-related expenses and what are the amounts for 2022?
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If you’re a business owner or executive, you might be taking it a little easy this summer. But don’t take it so easy that you forget about these third-quarter tax deadlines.
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No nonprofit wants to have to lay off employees due to budget restrictions. Before you cut your staff, read our suggestions for reducing other expenses across your organization.
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If you’re getting a divorce, you know it can be a difficult process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are five issues to consider.
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Business owners: Are high gas prices getting you down? The IRS is providing some relief by raising the optional standard mileage rate for the last six months of 2022.
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If you’re preparing to send your child to college this fall, now is the right time to create a basic estate plan with the help of an advisor.
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Although your nonprofit can’t control the thoughts of criminally minded employees, you can make occupational fraud difficult to commit. The latest ACFE fraud report provides insights and tips.
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Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driving for the second half of 2022 from 58.5 cents per mile to 62.5 cents per mile.
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With the federal estate tax exemption currently so large, you may want to devote more time to saving income taxes for your heirs.
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The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Here’s how.
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There are a variety of tools to build flexibility into an estate plan. A power of appointment is a provision that permits another person to determine how, when and to whom certain assets in the estate or trust will be distributed.
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Even if your nonprofit’s executive director isn’t leaving immediately, it makes sense to have an executive search plan ready. Here’s how to build your plan.
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Some people are under the misconception that Social Security benefits are always free from federal income tax. So they may be surprised to learn that benefits may be taxed in retirement. Here are the rules.
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Transferring a family business to the next generation requires a delicate balancing act.
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Small businesses and start-ups engaging in research activities: Here’s a way to save on payroll taxes.
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Donors may automatically assume they can deduct the full amount of any charitable contribution. But what if your nonprofit provides goods or services in exchange for donations?
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