Choosing a business entity? Here are the pros and cons of a C corporation
When deciding on the best business structure, one option is a C corporation. There are pros and cons to doing business this way. Here’s a detailed look at the pros and cons of operating as a C corporation. Contact the business advisors at SEK with questions.
2025 Payroll Tax Bulletin
The IRS recently released the 2025 payroll tax rates, which we have summarized in a bulletin for your convenience and quick reference.
2025 Rates & Dates
The IRS recently released the 2025 rates and dates, which includes individual tax rate schedules, roth retirement contributions, social security taxes, payroll tax deposit due dates for businesses, and more.
Rethinking the budget process
In today's changing financial environment, effective budgeting is key to achieving long-term sustainability. Whether you're managing finances for a government entity, school district, or another organization, rethinking your budget process can help you overcome challenges and optimize resources. Here’s an overview of strategies and best practices for a more robust and forward-thinking approach to budgeting.
SEK announces Manager, Supervisor, Senior, and Marketing promotions
The Members are pleased to announce the following Manager, Supervisor, Senior Staff, and Marketing promotions effective January 1, 2025:
Using an exit agreement to manage your nonprofit’s leadership transition
If one of your nonprofit’s leaders is departing, an exit agreement may help smooth the process. This legal document, usually developed by the board of directors, is intended to compensate a founder or executive for past service or provide incentives to perform future work. There are several types of exit agreements, including “catch-up,” “stay” and one-time honorarium. Contact SEK's nonprofit advisors for guidance.
Adopting a child? Bring home tax savings with your bundle of joy
Two tax breaks help eligible parents offset the costs of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal tax for up to $17,280 of “qualified adoption expenses” for each eligible child. Contact the CPAs and tax advisors at SEK with help with your tax deductions.
5 questions single parents should ask about their estate plans
In many respects, estate planning for single parents is similar to that of families with two parents. Parents want to provide for their children’s care and financial needs after they’re gone. However, when only one parent is involved, certain aspects of an estate plan demand special attention. If you’re a single parent, here are five questions you should ask an estate planning advisor.
Valuing intangible assets
Intangible assets, such as patents, trademarks and goodwill, play a key role in businesses. The tax implications of intangibles can be complex, but businesses should understand them and the exceptions. Contact the CPAs and business advisors at SEK with questions about intangibles.
The latest on the Corporate Transparency Act BOI injunction
Important Update As of December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit reinstated a nationwide preliminary injunction against the Corporate Transparency Act (CTA).