In general, married couples who file jointly save more money on taxes than those who file separate returns. However, there are situations when filing separately is a better option.
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Did you know that you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF.
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Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.
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Enterprise risk management usually is associated with for-profit businesses. But nonprofits can also benefit from this program that compares risks and strategically deploys resources.
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If you’re deducting a charitable contribution on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t yet received a letter for a charitable donation you made in 2021? Here are the rules.
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Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity
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If you receive payments through services such as Venmo or PayPal, be aware that there are new tax reporting requirements beginning this year.
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It’s no secret that this is a job applicant’s market. So if your nonprofit is trying to find staffers, you may need to put extra effort into recruiting. We offer some tips.
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Do you need to file a gift tax return this year? It depends on the type of gifts you made.
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Traditional or Roth IRA? Here are the differences in these retirement savings accounts.
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Entrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized over time.
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Help speed processing and avoid hassles this tax season with these tips.
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Is now a good time for your nonprofit to launch a capital campaign? For starters, you’ll need supportive stakeholders and strong leadership. Here are some other essentials for a successful campaign.
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Appointing the right trust protector is critical. Given the power he or she has over your family’s wealth, you’ll want to choose someone whom you trust and who’s qualified to make financial decisions.
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A careful approach to keeping business records can protect your tax deductions and help make an IRS audit much less difficult. Here are two cases to illustrate some of the issues involved.
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Want to get your tax return sooner and protect yourself from tax identity theft? File your tax return early
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How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.
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Smaller nonprofit boards generally communicate more effectively and are more cohesive. Larger boards tend to have broader expertise. So how big (or small) should your organization’s board be?
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Most nonprofits prefer unrestricted gifts, but you probably don’t want to say “no” to donations that come with a few strings. Just make sure you handle restricted gifts with care. Here’s how.
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One of your new year’s resolutions may be to take better care of your health. But can you deduct your out-of-pocket medical costs on your tax return?
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