Expenses related to animals that protect business property or inventory may qualify for tax deductions. But the IRS draws a clear line between a working animal and a household pet. Learn the tax rules and required documentation.
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From ensuring regulatory compliance to uncovering insights into program and staffing costs, proper timekeeping can enhance your nonprofit’s decision-making. Learn more.
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Grace periods for calendar-year flexible spending accounts (FSAs) are ending soon. If employees haven’t spent their 2025 FSA balances, unused amounts may revert to the employer. Here’s what IRS rules allow your business to do with forfeited funds.
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When nonprofit leaders embrace accountability, it can transform the organization. Start with clear ethics, strong leadership, and transparent communication. Here’s how.
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The rules for interest expense deductions for individual taxpayers are complex. Find out what you might be able to deduct on your 2025 income tax return.
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There’s much to consider before deciding whether to use the actual expense method or cents-per-mile method to deduct expenses for a vehicle your business placed in service in 2025.
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Many people are surprised to learn that they can be required to file a federal gift tax return even when no gift tax is owed. Here are the rules.
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If you’re mission-driven but drowning in spreadsheets, it may be time to hire a CFO for your nonprofit.
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Child, dependent, adoption and education tax credits can provide significant tax savings, but various rules and income-based limits apply. Which credits might you be eligible for on your 2025 return?
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If your business uses the accrual method of accounting and received advance payments in 2025, you may be able to defer reporting some or all of that income until 2026 for federal tax purposes.
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Naming a trusted family member as executor may be a natural choice, but it may not be the best one. Here’s why naming a professional advisor as a co-executor is often a better option.
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When Accounting and Development teams clash, nonprofits pay the price. Learn how better coordination protects funding and strengthens your mission.
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If you haven’t recently reviewed your estate plan, there may be multiple reasons to do so now.
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Typically, filing jointly will save taxes for married couples compared to filing separately. But that isn’t always the case. And sometimes it may make sense to file separately even if it won’t save taxes for the couple overall.
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If someone asked you, “What risks are most likely to disrupt your nonprofit’s mission?” … would you know how to answer? ERM can help.
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Although the tax credit for providing health coverage to employees has been available for more than a decade and generally can be claimed for only two years, some small businesses may still be eligible.
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Decanting can breathe new life into an irrevocable trust.
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Accurately assigning value to noncash or tangible property donations can be challenging. We’ve got you covered.
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If in 2025 your business made building or equipment repairs or performed routine maintenance on vehicles or machinery, a safe harbor may allow you to claim valuable tax deductions.
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Charitable donations can be a powerful tax saver for anyone who itemizes deductions. But you must comply with many rules, including obtaining proper substantiation for your gifts.
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