Moving a Trust Over State Lines Can Offer Tax Savings and Other Benefits
People who live in states with high income taxes sometimes relocate to a state with a more favorable tax climate. A similar strategy can be available for trusts.
Using Knowledge Management to Develop Your Succession Plan
As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top.
Will Leasing Equipment or Buying It Be More Tax Efficient for Your Business?
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many businesses that formerly leased assets are now deciding to buy them.
Beware the Ides of March — If You Own a Pass-Through Entity
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why?
Blow the Dust Off Your Employee Handbook
It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional.
Have You Properly Substantiated Your 2018 Charitable Gifts?
Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about.
D&O insurance: Some FAQs for nonprofits
Directors and officers (D&O) liability insurance enables board members to make decisions without fear that they’ll be personally responsible for any related litigation costs. Such coverage is common in the business world, but fewer not-for-profits carry it.
The Home Office Deduction: Actual Expenses vs. the Simplified Method
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return.
Imposing Healthcare Plan Waiting Periods on Rehired Employees
It’s not uncommon for employers in some industries and localities to occasionally rehire a previously terminated employee. Should such a situation occur, you may wonder how to properly handle the waiting period typically imposed on new hires preceding their eligibility for health care benefits.
What You Need to Know About Filing Gift and Estate Tax Returns
Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a loved one who died recently? If so, you need to know whether you must file a gift or estate tax return.