In your own words: A letter of instruction complements a will
A smart estate plan should leave no doubt as to your intentions. Writing a letter of instruction can go a long way toward clearly communicating all of your thoughts and wishes.
2023 Rates & Dates
The IRS recently released the 2023 rates and dates, which includes the following:
Put an advisory board to work on your nonprofit’s challenges
A community health center desperately needed to upgrade its computer network. Unfortunately, the not-for-profit had little IT expertise on staff or on its board of directors.
Selling stock by year-end? Watch out for the wash sale rule
If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule. The loss could be disallowed
Jodie Meglio, CPA Earns Data Analyst Certificate Bundle
FOR IMMEDIATE RELEASEDecember 14, 2022 Jodie Meglio, CPA Earns Data Analyst Certificate Bundle
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is:
Does your family business’s succession plan include estate planning strategies?
Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession.
New accounting standard: Does it affect your nonprofit?
An accounting standard from the Financial Accounting Standards Board (FASB) that takes effect in mid-December, 2022, could require your not-for-profit organization to act.
Answers to your questions about taking withdrawals from IRAs
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72.