Concerned about your 2023 tax liability? Consider these year-end tax planning strategies.
Read MoreEver heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the right move for every business. Here’s how it can help accelerate depreciation deductions on the building that houses your enterprise.
Read MoreWhen planning your estate, pairing a pour-over will with a living trust can act as a backstop for certain wayward assets.
Read MoreDo you own assets jointly with your child or other heir? Learn the pitfalls associated with this estate planning strategy.
Read MoreThe IRS has created a path that businesses can use to withdraw unprocessed ERTC claims if they determine the claims are invalid.
Read MoreThe IRS recently announced the special “per diem” rates that became effective Oct. 1, 2023. Here are the basics of these rates.
Read MoreDoes your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
Read MoreWhat’s considered “healthy” diversity in a nonprofit board will vary by organization. But, at a minimum, your board should reflect your community and the people you serve. Learn how to increase board diversity.
Read MoreYou want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.
Read MoreSometimes donors ask for their money back. Must your nonprofit comply? It depends on several factors. But the best defense against these requests is an effective offense: Create a gift refund policy.
Read MoreMoving to another state could reduce or eliminate state-level estate tax, but certain steps must be taken.
Read MoreThere are tax implications if you hit a sizable jackpot in the lottery or while gambling. Here are the basic rules.
Read MoreTrust tends to be the biggest potential fraud weakness for nonprofits. But by beefing up certain internal controls, you can continue to operate like a happy family and still reduce employee-perpetrated fraud.
Read MoreYour choice of a family member to be your estate’s executor may not be the best option.
Read MoreYou have a few choices to accommodate your art collection in your estate plan. Learn about three options here.
Read MoreThe leaves are beginning to turn in some areas so it’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think about the fourth quarter 2023 tax filing deadlines.
Read MoreMany employers offer Health Savings Accounts to their workers. You may also be able to open one of these tax-saving accounts through some banks and other financial institutions. Here are the basic rules.
Read MoreWith fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end.
Read MoreAlthough there are potentially a few disadvantages to board term limits, they generally benefit nonprofits. Read on for more about how term limits can promote diversity and cooperation.
Read MoreFor some investors, 2023 has been a wild ride in the stock market. How will that affect your 2023 tax bill? Here’s how to determine the tax impact.
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