Charitably inclined? Pair a donor-advised fund with your estate plan
Your estate plan is the perfect place to make charitable gifts if you’re charitably inclined. One option is to consider using is a donor-advised fund (DAF). It allows you to set aside funds for charitable giving while you’re alive, and you (or your heirs) can direct donations over time. Contact SEK's estate planning advisors for assistance.
Many business tax limits have increased in 2025
A variety of tax-related limits that affect businesses increased in 2025 based on inflation. And most limits related to employer-sponsored retirement plans, such as 401(k)s, are higher this year. Contact the business tax advisors and CPAs at SEK if you have questions about your tax situation.
Taming the tax tangle if you’re retiring soon
Retirement is a chance to travel, visit with family or just enjoy relaxing. Yet retirement may bring a tangle of tax implications. Some examples include, selling your home, change in earnings, change in Social Security benefits, and required minimum distributions from traditional IRAs and 401(k)s. Contact the tax advisors at SEK with questions.
Rebuilding your nonprofit’s operating reserves
If your nonprofit has operating reserves, they can help prevent service disruptions and an urgent search for alternate funding. If you don’t have reserves, create a formal written reserves policy as soon as possible. Our nonprofit advisors can assist you with establishing operating reserves if needed.
Provide your heirs the option of creating an inheritor’s trust
An inheritor’s trust is a specialized estate planning tool designed to protect and manage assets you pass to a beneficiary. One of its primary advantages is asset protection. It allows your beneficiary to receive his or her inheritance in trust rather than as an outright gift or bequest. Thus, the assets are kept out of his or her own taxable estate. Contact SEK's estate planning advisors to set up an inheritor's trust.
Why employers should offer an Employee Assistance Program (EAP)
In today’s fast-paced work environment and the ongoing demands of running a small business, it is easy to overlook the personal challenges your employees might be facing. However, these challenges can significantly impact their productivity and overall well-being. One of the most effective ways employers can support their workforce is by offering an Employee Assistance Program (EAP). An EAP is a powerful tool that can transform your workplace into a supportive and thriving environment.
Looking ahead to 2025 tax limits as you prepare to file your 2024 return
Many people are more concerned about their 2024 tax bills than they are about their 2025 tax situations. However, it’s a good time to acquaint yourself with tax amounts for this year, some of which have increased due to inflation. Questions? Contact the CPAs and tax advisors at SEK.
Automate transaction categorization using QuickBooks Online's rules
QuickBooks Online’s Rules make it possible to minimize the time you spend categorizing transactions. However, it’s critical that you set these up correctly. Let us help. Contact our QuickBooks Online advisors today.
Regaining your nonprofit tax-exempt status
Has your not-for-profit lost its tax-exempt status because it failed to file its annual Form 990, 990-EZ or 990-N for three consecutive years? The good news is you can potentially file Form 1023 or 1024 (depending on circumstances) with the IRS for reinstatement. Because the reinstatement process can be confusing, contact SEK's nonprofit advisors. We can help you navigate IRS rules and prevent the situation from occurring again.
Beware if your estate plan leaves specific assets to specific heirs
Does your estate plan leave specific assets to specific family members? If so, you may want to reconsider your plan. While it may be tempting to, doing so risks leaving someone significantly less in value. However, if it’s important to you that certain heirs receive certain assets, there may be planning strategies you can use to ensure your heirs are treated fairly. Contact SEK's estate planning advisors for details.