With fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
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Whether you win money gambling online, playing at a casino or participating in a sports betting activity, there are tax implications. Here are the basic rules that winners should understand.
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To ensure your endowment’s investment portfolio has the right risk/reward profile, look for an investment advisor with nonprofit experience. We provide tips on finding the best professional for the job.
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Building your wealth around a single stock can be risky for both your investment plan and your estate plan.
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Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
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If you’re an employee, you may be able to get a Health Savings Account with your employer. You can also open one of these tax-saving accounts through some banks and other financial institutions. Here are the basic rules.
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If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
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It’s not always easy for trade associations to differentiate between acceptable and unacceptable activities. Help protect your 501(c)(6) status by reading up on common pitfalls.
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AI in the nonprofit sector? Absolutely! Artificial intelligence can be applied to everyday uses that enable your organization to improve program efficacy.
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In light of the COVID-19 pandemic, are you leery about visiting your advisor’s office to attend to estate planning documents? You’re not alone, and you may have other options.
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There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.
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If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for the loss. But there are requirements that must be followed as one U.S. Tax Court decision illustrates.
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Without an accountable plan, your nonprofit and your staffers may pay unnecessary taxes on employee business expense reimbursements. Here’s how these plans work and how to set one up.
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The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).
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How seriously does your nonprofit take fraud threats? Some organizations do relatively little to protect assets, leaving control gaps that thieves can slip through. We explain why this is a dangerous strategy.
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If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.
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Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.
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Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
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Capacity-building is a worthy pursuit for any nonprofit. But instead of focusing on inadequacies, you may want to concentrate on pumping up your strengths. Here’s why.
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Fresh IRS guidance is available for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.
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