QuickBooks Desktop to Sunset in May 2027
If your organization uses any version of QuickBooks Desktop, please be advised that the application is due to sunset in May 2027. This means that critical safety and support features will no longer be available, including:
Fundraisers Should be Fun, but They Also Must be Profitable
If you’re planning a major fundraiser such as a dinner gala, you may be focused on the fun factors, such as the venue, menu, and entertainment.
High-Income Individuals: New Itemized Deduction Limitations Are Coming Next Year
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced.
New Deduction for QPP Can Save Significant Taxes for Manufacturers and Similar Businesses
The One Big Beautiful Bill Act (OBBBA) allows 100% first-year depreciation for nonresidential real estate that’s classified as qualified production property (QPP).
2026 Cost of Living Adjustments
The IRS recently released the 2026 Cost of Living Adjustments for retirement plans and related items. These updates reflect changes designed to help individuals keep pace with inflation and maximize their savings opportunities.
Maryland Businesses: Claim Your $300 Exemption Before Year-End
If your business operates in Maryland, you may be eligible for a $300 exemption under the MarylandSaves Credit program. Here’s what you need to know:
Is a QTIP Trust Right for Your Blended Family?
A qualified terminable interest property (QTIP) trust can be a valuable estate planning tool if you have a blended family.
Scrutinize That Grant Before You Accept It
Your nonprofit may invest valuable time and effort in its grant proposals, so it’s understandable that you’d be thrilled when proposals are given the green light.
Shift Income to Take Advantage of the 0% Long-Term Capital Gains Rate
Are you thinking about making financial gifts to loved ones? Would you also like to reduce your capital gains tax? If so, consider giving appreciated stock instead of cash.
What You Need to Know About Deducting Business Gifts
Thoughtful business gifts are a great way to show appreciation to customers and employees, and they can also deliver tax benefits when handled correctly.