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.
Read More
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.
Read More
If you’re mission-driven but drowning in spreadsheets, it may be time to hire a CFO for your nonprofit.
Read More
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?
Read More
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.
Read More
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.
Read More
When Accounting and Development teams clash, nonprofits pay the price. Learn how better coordination protects funding and strengthens your mission.
Read More
If you haven’t recently reviewed your estate plan, there may be multiple reasons to do so now.
Read More
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.
Read More
If someone asked you, “What risks are most likely to disrupt your nonprofit’s mission?” … would you know how to answer? ERM can help.
Read More
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.
Read More
Decanting can breathe new life into an irrevocable trust.
Read More
Accurately assigning value to noncash or tangible property donations can be challenging. We’ve got you covered.
Read More
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.
Read More
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.
Read More
A SEP retirement plan is easy to establish and a powerful retroactive tax planning tool for business owners and the self-employed.
Read More
If you own real estate in multiple states, consider using a revocable trust to make it easier for your beneficiaries.
Read More
Nonprofit boards: big, small or somewhere in between? There’s no magic number, but here’s what you should consider.
Read More
Gift-splitting can be a valuable estate planning tool, allowing spouses to maximize the amount of wealth they can transfer tax-free.
Read More
While your nonprofit should monitor broader economic conditions to guard against potential external risks, don’t overlook these internal red flags that may signal deeper financial health concerns.
Read More