When planning your estate or inheriting assets, it’s essential to understand the “step-up” basis rules. They can affect the taxes due on the sale of the assets.
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Most nonprofits benefit when they accept donations from supporters in whatever form they want. So if you don’t yet accept cryptocurrency, what are you waiting for?
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Help keep charitable organizations honest by putting restrictions on your gifts.
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Launching a business? Here’s how start-up expenses are handled on a federal tax return.
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If your nonprofit hopes to land a large gift, it needs to go to the source: high-net-worth donors. Easier said than done, right? Learn more about wealthy philanthropists and how to get their attention.
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The Trust Fund Recovery Penalty is personally imposed on certain business owners and managers when employment taxes aren’t paid to the government. Here are the rules, along with two cases where individuals were held liable for the harsh penalty.
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Don’t panic if you get a letter from the IRS telling you your tax return is being audited. In many cases, the IRS completes audits after receiving requested documentation. Here are the latest IRS statistics, as well as some tips on how to help survive an audit.
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Good PR can mean many things. But for a public charity, it means frequently, rather than occasionally, using the media to communicate with prospective supporters about successes, challenges and opportunities.
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If you do business with virtual currency, it’s time to bone up on related tax requirements. The IRS is paying closer attention.
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If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.
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You might want to enjoy the lazy days of summer, but employers and businesses need to make sure not to miss these third-quarter 2023 tax deadlines.
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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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