Pitfalls abound when creating and maintaining an estate plan. Here are four to be especially aware of.
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A limited liability company can give you corporate-like protection from creditors while providing the benefits of taxation as a partnership. Can it work for you?
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The Inflation Reduction Act is about to become law. Learn how its tax provisions might affect you.
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You don’t have to wait for the next scheduled audit to assess your nonprofit’s financial health. Instead, think like an auditor and review revenue numbers for negative trends. Here’s how.
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Don’t wait until a questionable donor offers your nonprofit a gift. Create a gift acceptance policy so you’ll know how to respond to donors who could potentially damage your organization’s reputation
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How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules.
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If you possess a beloved family heirloom, make certain you address it properly in your will or living trust to help avoid family disputes after your death.
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You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes.
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Do your children have investment income? They may owe “kiddie tax.” Here are the basic rules.
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Interested in a “like-kind” exchange of real property? Here are the basic rules.
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Under a new IRS procedure, eligible estates now have up to five years after a deceased spouse’s death to make a portability election request.
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The youngest generation of adults, Generation Z, is your nonprofit’s future in terms of donations, volunteering and leadership. So it’s important to gain the attention and support of these digital natives.
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Many people are thinking about buying electric vehicles because of their advanced technology, high gas prices and the fact there are more models available today. Along with factors like acceleration and the battery range, check out the federal tax break that may be available.
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When a business shuts down, there are a number of tax responsibilities that must be met. Unfortunately, because of the pandemic and the economy, many businesses are facing this reality. Here are the basic rules.
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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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