The advantages of a living trust for your estate plan Do you believe you don’t need to worry about estate planning because of the current federal estate tax exemption ($13.99 million per individual or $27.98 million for married couples… Read More
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Planning a summer business trip? Turn travel into tax deductions
Planning a summer business trip? Turn travel into tax deductions If you or your employees are heading out of town for business this summer, it’s important to understand what travel expenses can be deducted under current tax law. To qualify,… Read More
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Your nonprofit has lost an executive. Now what?
A fictional nonprofit lost its executive director (ED) when she died unexpectedly. The charity had a basic contingency plan, but the document didn’t name an actual successor for the ED position. Fortunately, the plan outlined procedures for finding a new… Read More
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Nonprofits: Beware of shady investment advisors
For the past couple of years, investment fraud has been the costliest type of scam reported to the FBI’s Crime Complaint Center. The FBI generally defines investment fraud as schemes where criminals misrepresent themselves or lie to victims to gain… Read More
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How your business can sharpen its marketing strategy
Creating a marketing strategy for any company isn’t a “one and done” activity. As you’ve no doubt experienced, the approach you use to connect with your audience needs to adapt to factors such as the economy, marketplace changes, and customer… Read More
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How working in the gig economy affects your taxes
The gig economy offers flexibility, autonomy and a way to earn income, but it also comes with tax obligations that can catch many workers off guard. Whether you’re driving for a rideshare service, delivering food, selling products online or offering… Read More
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When corporate sponsorships raise UBIT issues
When corporate sponsorships raise UBIT issues Under the Internal Revenue Code, “qualified sponsorship payments” to not-for-profits aren’t subject to unrelated business income tax (UBIT). Qualified payments refer to money, property transfers or the performance of services by a business… Read More
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Companies should take a holistic approach to cybersecurity
Companies should take a holistic approach to cybersecurity Today’s businesses have two broad choices regarding cybersecurity: wait for something bad to happen and react to it, or proactively address the threat. Not surprisingly, we recommend the latter approach. The… Read More
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The tax rules for legal awards and settlements: What recipients should know
The tax rules for legal awards and settlements: What recipients should know If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money. Will you… Read More
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Can you turn business losses into tax relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years. Who qualifies? The net operating loss (NOL)… Read More