LLC and LLP owners: Can you deduct your business losses this year? The answer may depend on whether your activity is considered passive under the IRS’s passive activity loss rules.
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Beware, small business owners: As your workforce grows, ACA compliance can become a costly surprise without proper planning.
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Pairing a charitable remainder trust and a wealth replacement trust can help you achieve two estate planning goals: philanthropy and leaving a legacy.
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Board term limits can strengthen governance with fresh perspectives and more collaborative leadership. But they also come with drawbacks. Learn how to design the right approach for your nonprofit.
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Not ready to file your federal income tax return by April 15? There are things you can do to avoid or reduce penalties.
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The research credit isn’t just for labs or tech companies. Many businesses are missing out because they mistakenly assume they don’t qualify — or aren’t sure where to start. Learn how the credit works and what to consider.
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When disaster strikes, your nonprofit needs to be ready. Learn how to build organizational continuity, whatever comes your way.
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The circumstances when individual taxpayers can deduct vehicle-related expenses are limited, but tax-saving opportunities are available.
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How you move money into your C corporation today can shape your tax outcomes tomorrow. Here’s why making bona fide loans to your business can be a tax-smart move.
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The variety of benefits a family limited partnership offers may be enough to offset the fact that it can often be more complex to set up and operate than other estate planning tools.
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How effective is your nonprofit’s finance committee? If its members aren’t involved in these seven core responsibilities, it may be time to revamp your approach.
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If during your lifetime you’ve invented something and had it patented or created a copyrighted work, your estate may include intellectual property (IP). This can be a valuable intangible asset that your estate plan must address.
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Manufacturers and some other businesses may now be eligible to deduct 100% of the cost of qualified production property (QPP). Recently issued IRS guidance provides some clarification on this potentially valuable deduction.
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For many businesses, the calendar year is the default setting for tax reporting. But in some situations, a different year end may be the smarter choice.
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Making a 2025 IRA contribution can provide tax savings today or when you take distributions in retirement. And you can benefit from tax-deferred or tax-free compounding. But the contribution deadline is coming up soon.
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Expenses related to animals that protect business property or inventory may qualify for tax deductions. But the IRS draws a clear line between a working animal and a household pet. Learn the tax rules and required documentation.
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From ensuring regulatory compliance to uncovering insights into program and staffing costs, proper timekeeping can enhance your nonprofit’s decision-making. Learn more.
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Grace periods for calendar-year flexible spending accounts (FSAs) are ending soon. If employees haven’t spent their 2025 FSA balances, unused amounts may revert to the employer. Here’s what IRS rules allow your business to do with forfeited funds.
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When nonprofit leaders embrace accountability, it can transform the organization. Start with clear ethics, strong leadership, and transparent communication. Here’s how.
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The rules for interest expense deductions for individual taxpayers are complex. Find out what you might be able to deduct on your 2025 income tax return.
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