The public nature of probate is a primary reason many people wish to avoid the process to the extent possible. Implementing the proper strategies in your estate plan can protect your privacy.
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It’s not easy to get at the root of charitable donor motivation. We look at some of the financial, social and emotional reasons people give and how your nonprofit might want to act on them.
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There are two special taxes that may have a significant effect on the tax bills of high-income folks: the 3.8% net investment income tax and a 0.9% additional Medicare tax on wage and self-employment income. Here are the basic rules.
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Your nonprofit may not have always approached its budget efficiently and productively or received the results it wanted. But it’s never too late to try some new budgeting ideas.
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Families with a disabled child face difficult estate and financial planning challenges. Two options available to them are a special needs trust and an ABLE account. How do they compare?
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Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.
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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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