Keep your vendors happy: Tracking bills in QuickBooks Online
If only I had more income, you may think to yourself when you sit down to a stack of bills. More revenue could certainly make it easier to meet your financial obligations completely and on time. But so can QuickBooks Online.
Big changes coming: Paper checks for federal tax payments ending
Earlier this year, President Trump signed an Executive Order that will significantly change how taxpayers receive refunds and make payments to the federal
5 potential tax breaks to know before moving a parent into a nursing home
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on your mind. But there may be tax implications.
Understanding the most common IRS notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make a mistake? Am I in trouble?
Tax Court case provides lessons on best recordkeeping practices for businesses
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings.
Navigate the risky business of nonprofit borrowing
Should your not-for-profit apply for a loan? Perhaps you want to buy new equipment or build an extension to an existing facility. Maybe your nonprofit generates revenue unevenly or you need help to recover from a financial blow.
Intrafamily loans must be handled with care
Is one of your top estate planning goals to provide your family with financial security at the lowest tax cost?
The power of catch-up retirement account contributions after 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s).
Receive $10,000 in cash at your business? The IRS wants to know about it
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return.
A quiet trust has its benefits, but an incentive trust may be a better option
When it comes to estate planning, one of the more nuanced tools available is a quiet trust (also known as a “silent” trust).