Taking care of loved ones in your estate plan should include the four-legged variety. Here’s how to address your pets in your estate plan.
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Even though family members generally aren’t personally liable for any remaining debt of a deceased loved one, that debt doesn’t simply disappear.
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If you receive a court award or out-of-court settlement, do you have to pay tax on it? The answer is … it depends.
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At a time when every dollar counts, your nonprofit doesn’t want to end up with a UBIT bill. So be careful when accepting corporate sponsorships because some can be risky.
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Just because you filed your 2024 tax return doesn’t mean the questions about it stop. Here are some answers.
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Through a Chief Counsel Advice memo, the IRS indicates that more fraud victims can claim a theft loss deduction than previously known.
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A trustee is the person who has legal responsibility for administering a trust on behalf of the trust’s beneficiaries. What qualifications should you look for when choosing a trustee?
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Your nonprofit likely already uses accounting software and other tools to automate routine tasks. Could you automate more? Probably. We suggest additional functions that can benefit from AI and other automation.
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Harvesting capital losses is a viable tax-saving strategy as long as you avoid the wash sale rule. Here’s how it works.
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A Section 127 educational assistance plan can be a smart investment for your business. With this tax-favored benefit, employees can finish degrees, pursue graduate study and even pay off student loan debt.
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While you, as grantor, generally can’t change an irrevocable trust, your trustee can “decant” it. Doing so allows the trustee to change the trust’s terms under certain conditions.
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After filing, you may want to do some spring cleaning and discard tax documents. But don’t throw away records you might need in the case of an IRS audit. Here are the rules.
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Are you considering bringing your high-school- or college-age child into your business this summer? If you hire him or her, it could be a smart move with substantial tax advantages.
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If your business is affected by the tariffs, consider implementing these tips to mitigate their impacts.
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When it comes to data privacy, the stakes couldn’t be higher. If your nonprofit is found to have irresponsibly handled donor, employment and other sensitive data, you could suffer dire financial consequences.
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April 15 is double trouble! Of course, it’s the deadline for filing your 2024 tax return but there’s another important deadline that day.
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Unpaid taxes withheld from your company’s employees might come back to bite you harder than you think. Find out how the 100% penalty can sink its teeth into your personal finances.
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There are many factors to consider when deciding whether to divulge the details of your estate plan to family members.
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You may feel you’re the head of your household if you’re married, single, divorced, a parent or child-free. However, only certain people can file a tax return with the favorable “head of household” status. Here are the rules.
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Unless you’re eligible for an exception, you may not be able to deduct rental real estate tax losses for years. Here are the details of the exceptions.
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