Family members often want to help disabled loved ones financially but don’t want them to lose eligibility for their government benefits. A tax-advantaged ABLE account may be the answer.
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Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you may be hearing on TV or in mail, phone and email solicitations.
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Next year, a new provision kicks in that may allow businesses to help employees in financial emergencies through their retirement plans. Here are the details.
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To avoid confusion, pain and possible court proceedings among your surviving family members after your death, maintain only one, original will.
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If you lead a private foundation, you must go out of your way to prevent anything that might be perceived as a conflict of interest or self-dealing. Here’s how to color within the lines and stay out of trouble.
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Learn the reasons why you should have an estate plan even if you’re not married and have no children.
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Some businesses receive large amounts of cash. Depending on the amounts, they may be required to report the transactions to the IRS.
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If you are resuming student loan payments soon, be aware that interest is deductible for some borrowers subject to certain limits. Here are the rules.
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You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. Here are the advantages of operating as a limited liability company (LLC).
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Have you heard there’s an enhanced tax credit for making energy-efficient home improvements, beginning this year? Here are the rules.
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There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for sale. Here’s a three-step strategy.
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Nursing home care is expensive. However, there may be tax breaks if your parent is moving into one.
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What would happen if one of your nonprofit’s volunteers harmed someone while volunteering for you? No matter how much you prize them, volunteers present litigation risks. We recommend four best practices.
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Some taxpayers can look forward to receiving transitional relief from the IRS related to the required beginning dates for taking required minimum distributions from retirement plans.
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If you’re eligible and not making catch-up contributions to your retirement plan, you’re missing out on building more tax-favored savings. Here are the rules of the road.
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Nonprofits need to incorporate tax planning into their special event preparations. Whether you’re hosting a formal dinner, 5K run or multi-speaker conference, tracking revenue and expenses is critical.
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When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax deductible by either you or the business. Here are the key considerations.
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Some assets are easier to address in your estate plan than others. Transferring a significant amount of frequent flyer miles can be tricky (or maybe not even possible).
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Your nonprofit doesn’t have to be on a fast track. But it should foster new ideas and innovation that will make it easier to achieve, and even expand, your mission. Here’s what to do if you’re languishing.
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Converting an unincorporated business into an S corporation may help you cut your self-employment tax bill. Here’s how.
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