Complete your estate plan by adding powers of attorney
As you create your estate plan, your main objectives likely revolve around your family, both current and future generations. Your goals may include reducing estate tax liability so that you can pass as much wealth as possible to your loved ones.
Evaluating an ESOP from a succession planning perspective
If you’ve been in business for a while, you’ve probably considered many different employee benefits. One option that might have crossed your desk is an employee stock ownership plan (ESOP).
How to share your nonprofit’s values and limit fraud losses
Every two years, the Association of Certified Fraud Examiners releases its Report to the Nations, an occupational fraud study of for-profit, not-for-profit and government organizations.
Home sweet home: Do you qualify for office deductions?
If you’re a business owner working from home or an entrepreneur with a home-based side gig, you may qualify for valuable home office deductions.
IRS issues guidance on transition rules for electric vehicle credits
The IRS has released guidance to assist taxpayers with navigating the transition from electric vehicle (EV) credits under prior law to the rules under the Inflation Reduction Act of 2022.
Self-employed? Build a nest egg with a solo 401(k) plan
Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan?
Are your risk-management practices keeping up with the times?
Risks abound in today’s uncertain marketplace.
For a stronger nonprofit, increase the number of income streams
Not-for-profits that rely on a single income source, or only a few, are vulnerable to economic shocks. The COVID-19 pandemic has made this particularly clear.
Avoid these 4 estate planning pitfalls
No one likes to contemplate his or her own mortality. But ignoring the need for an estate plan or procrastinating in the creation of one is asking for trouble. If you haven’t started the process, don’t delay any longer. For your estate plan to achieve your goals, avoid these four pitfalls:
Cyber risks: A critical part of your auditor’s risk assessment
As businesses and not-for-profit entities increasingly rely on technology, cyberthreats are becoming more sophisticated and aggressive. Auditors must factor these threats into their risk assessments.