A special federal income tax break is available if you rent your vacation home for less than 15 days during the year. Here are the rules.
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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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The IRS has announced the special “per diem” rates that became effective Oct. 1, 2021. Here are the basics of these rates.
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Underestimating the impact of state estate taxes can upend your estate plan.
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Financial pitfalls and cultural misunderstandings can imperil a nonprofit’s international expansion plans. Before you seek donations or new members abroad, address these questions.
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Are you an artist or collector interested in donating artwork to charity? Here are the basic rules to claim a tax deduction for your generosity.
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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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