Answers to your questions about taking withdrawals from IRAs
You can’t keep funds in your traditional IRA indefinitely. You must start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 73. However, if you take money out of a traditional IRA before age 59½, you may be subject to a 10% penalty tax and income tax on the distribution. Contact SEK's tax advisors and retirement planning advisors with any IRA questions.
New annual report requirement for Pennsylvania businesses in 2025
Starting in 2025, Pennsylvania businesses will need to comply with a new annual report requirement introduced by the Pennsylvania Department of State.
Estate planning Q&A: Guardianship
If you’re the parent of a newborn, toddler or older child, you may be thinking about naming a guardian for him or her. This can be a difficult decision, especially if you have many choices or, on the other hand, no one you can trust. Read here for answers to common questions about guardianship. Contact the estate planning advisors at SEK for further guidance.
How Section 1231 gains and losses affect business asset sales
When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the tax code, which governs the treatment of gains and losses. Gains and losses from selling Sec. 1231 assets receive favorable federal income tax treatment. Contact the business advisors at SEK to help you plan the timing of gains and losses for optimal tax results.
Tax-wise ways to save for college
As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered in the U.S. tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your child’s or grandchild’s education. Contact SEK's tax advisors for more info.
One from many: Why your nonprofit might want to federate
Federated nonprofits are single corporate entities with multiple chapters. There’s no one definitive legal structure for federated organizations. But local chapters generally operate independently and pay an amount to their national office in exchange for the name, branding and other benefits. Advantages can include economies of scale; a single, distinct brand; higher visibility; shared resources; and greater chapter-based accountability. Contact SEK's nonprofit advisors to learn more.
Using your 401(k) plan to save this year and next
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg. Contact the tax advisors and retirement planning advisors at SEK with your questions.
Make better branding your nonprofit’s 2025 New Year’s resolution
Here’s a nonprofit New Year’s resolution: Strengthen your brand. The first task is to identify what your nonprofit cares about, what it does, how it’s effective and why it deserves support. Contact SEK's nonprofit advisors for suggestions.
Have you prepared an advance health care directive?
An advance health care directive allows you to communicate your preferences, in advance, for medical care in the event you’re incapacitated. Comparable to a durable power of attorney, a health care power of attorney enables another person to make health care decisions for you. Contact the estate planning advisors at SEK with your questions.
Building a thriving workplace: Strategies for a positive culture
In today's competitive business landscape, building a positive workplace culture is essential for fostering employee satisfaction, productivity, and overall organizational success. To create and maintain a vibrant workplace culture that attracts and retains top talent, follow these actionable strategies.