Recent News & Blog

  • Year-end giving to charity or loved ones

    The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity

  • Is your business closing? Here are your final tax responsibilities

    Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors:

  • Protecting your nonprofit from data breaches

    By now, all organizations — for-profit and not-for-profit — know about the risk of cyberattacks. Why then, would any nonprofit fail to secure its network and digital assets? One reason is cost. Cybersecurity can be expensive.

  • How savings bonds are taxed

    Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed.

  • Preparing for year-end inventory counts

    How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count is essential at year end. For calendar-year entities, year end is fast approaching on December 31. Planning tips

  • Computer software costs: How does your business deduct them?

    These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others.

  • Annual gift tax exclusion amount increases for 2023

    Did you know that one of the most effective estate-tax-saving techniques is also one of the simplest and most convenient? By making maximum use of the annual gift tax exclusion, you can pass substantial amounts of assets to loved ones during your lifetime without any gift tax.

  • Why your nonprofit might want to compensate board members

    Because most not-for-profit board members serve voluntarily, you may not have known compensating them was an option.

  • 2023 limits for businesses that have HSAs — or want to establish them

    No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA).

  • Estate planning vocab 101: Executor and trustee

    Among the many decisions you’ll have to make as your estate plan is being drafted is who you will appoint as the executor of your estate and the trustee of your trusts. These are important appointments, and, in fact, both roles can be filled by the same person.

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