Who needs benchmarking? You, your nonprofit’s employees and board of directors do! We explain how best to measure performance to reach mission-critical goals.
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With careful planning, a spousal lifetime access trust may offer the best of both worlds: the ability to make the most of the current federal gift and estate tax exemption while retaining some access to your wealth.
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Seniors who have Medicare insurance (including supplemental) know that it can be costly to get the desired coverage. If this is your situation, you may be able to deduct the cost of premiums, along with other medical expenses, on your tax return.
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Choosing your child’s guardian can be difficult. These steps can help.
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Accounting inefficiencies and errors can cost your nonprofit time and money. Here’s how to root out and repair less-than-perfect processes.
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In addition to regular income tax, high-income taxpayers may face the 3.8% net investment income tax. This article explains who the tax applies to, as well as some strategies to minimize it.
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With a financial crisis averted, let’s take a look at the highlights of the Fiscal Responsibility Act.
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Here’s a rundown of the tax deductions you can claim for business travel.
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You’ve probably heard that you should avoid probate in estate planning. But what does that mean and how is it done?
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Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs and DON’Ts.
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Whether your nonprofit uses cash basis or accrual basis accounting can affect the likelihood that your financial statements will need to be adjusted at year end.
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Don’t ignore tax planning after you retire. Here are some of the tax implications of retirement.
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Have you coordinated your estate plan with your spouse’s?
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EMERGING TAX AND REGULATIONS ALERT FOR MAY 18
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When it comes to your estate plan, there’s simply too much risk involved in taking shortcuts. Rather than relying on do-it-yourself solutions, have your documents drafted and executed by a reputable attorney.
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Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a certain threshold aren’t subject to Social Security tax. Here’s how the 2023 “wage base” will affect your payroll.
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In 2022, if you pay a household worker cash wages of $2,400 or more, you must withhold and pay Social Security and Medicare taxes. What will this amount be for 2023? Here’s the answer, as well as other tax obligations.
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Audits are critical to reassuring financial supporters of your nonprofit’s fiscal responsibility. But the work doesn’t end when the auditor leaves. You need to review the audit report and possibly take action.
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The price of gas is going up again in some parts of the country. That may affect the tax deductions for local transportation costs that your small business can claim. Here’s what you can write off.
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Do you want to add municipal bonds to your portfolio? Here are some of the tax consequences.
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