Recent News & Blog

  • How to address your frequent flyer miles in your estate plan

    If you’re a frequent traveler, you may have accumulated hundreds of thousands or even millions of frequent flyer miles. The value of these miles may be significant, so it’s important to determine whether you can include them in your estate plan and share them with your loved ones.

  • Corporate officers or shareholders: How should you treat expenses paid personally?

    If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an officer and the corporation unless the correct steps are taken.

  • Be smart when accepting cryptocurrency donations

    Several years ago, when cryptocurrency was still a novel concept, many not-for-profits chose not to accept crypto donations. Now, crypto is so ubiquitous that it’s difficult — and probably a mistake — to refuse it. Yet crypto remains a risky and even unstable form of currency.

  • Potential roadblocks to valuing a business in divorce proceedings

    Divorce is never easy. But when the marital estate includes a private business interest, matters can become especially complicated. Here are some challenges that may be encountered when divorce proceedings require a business valuation. Data sharing

  • Use an S corporation to mitigate federal employment tax bills

    If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder!

  • Asset protection: How to shield your wealth from lawsuits and creditors

    Much of estate planning focuses on transferring your wealth to loved ones in a tax-efficient manner. But for some people, it’s equally important to protect that wealth against frivolous lawsuits or baseless creditors’ claims.

  • Do you need to shake up your nonprofit’s culture with new ideas?

    Most not-for-profits develop a culture over time that comes to define the organization. But even if your organization has a successful record and reputation, your staffers can become complacent and growth and productivity can suffer.

  • How to get the attention of high-net-worth philanthropists

    Even if your not-for-profit’s fundraising results have been lackluster recently, one high-net-worth donor can turn your year around and make it a fundraising success. The question is: How do you find ultra-wealthy individuals with philanthropic intentions?

  • The best way to survive an IRS audit is to prepare

    The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audits these days, that will be little consolation if yours is one of them.

  • How the pros use public data to value private businesses

    Business valuation professionals often use public stock market data to value private businesses — even though there are critical differences between closely held and publicly traded companies.

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