If you’re starting up a new 501(c)(3) not-for-profit organization, you likely face many decisions. One of them is which form to use when applying to the IRS for recognition of your tax-exempt status. There are two — Form 1023 and 1023-EZ,… Read More
Blog
-
Embrace the future: Sales forecasting for businesses
Embrace the future: Sales forecasting for businesses So, how are sales looking for next year? It’s not a rhetorical question. Your business should be able to look ahead and accurately estimate how its future sales are shaping up. This practice… Read More
-
Adoption tax credits: Easing the financial journey of parenthood
Adoption tax credits: Easing the financial journey of parenthood There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal tax… Read More
-
Businesses need to stay on top of their BYOD policies
Businesses need to stay on top of their BYOD policies In one way or another, most small to midsize businesses have addressed employees using personal devices for work. In 2022, online career platform Zippia reported that 83% of companies… Read More
-
Your guide to Medicare premiums and taxes
Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Read on to understand how taxes fit in. Premiums for Part B coverage Medicare Part B… Read More
-
Drive down your business taxes with local transportation cost deductions
Drive down your business taxes with local transportation cost deductions Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they… Read More
-
ESOPs can help business owners with succession planning
Devising and executing the right succession plan is challenging for most business owners. In worst-case scenarios, succession planning is left to chance until the last minute. Chaos, or at least much confusion and uncertainty, often follows. The most foolproof way… Read More
-
Senior tax-saving alert: Make charitable donations from your IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of… Read More
-
Healthy savings: How tax-smart HSAs can benefit your small business and employees
Healthy savings: How tax-smart HSAs can benefit your small business and employees As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account… Read More
-
3 types of retirement plans for growing businesses
3 types of retirement plans for growing businesses When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before funding anything other than essential operating activities. For companies… Read More