Business owners sometimes need to switch successors For many business owners, choosing a successor is the most difficult task related to succession planning. Owners of family-owned businesses, who may have multiple children or other relatives to consider, particularly tend to… Read More
Blog
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Working remotely is convenient, but it may have tax consequences
Working remotely is convenient, but it may have tax consequences Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a result, it’s here to stay… Read More
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Cash or accrual accounting: What’s best for tax purposes?
Cash or accrual accounting: What’s best for tax purposes? Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However,… Read More
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Update on a possible universal charitable deduction
Update on a possible universal charitable deduction During the COVID-19 pandemic, Congress temporarily enabled individual charitable donors who didn’t itemize federal income tax deductions to deduct up to $300 in contributions in both 2020 and 2021. This universal charitable deduction… Read More
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Does your company have an EAP? If so, be mindful of compliance
Does your company have an EAP? If so, be mindful of compliance Many businesses have established employee assistance programs (EAPs) to help their workforces deal with the mental health, substance abuse and financial challenges that have become so widely recognized… Read More
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Are you unfairly burdened by a spouse’s tax errors? You may qualify for “innocent spouse relief”
Are you unfairly burdened by a spouse’s tax errors? You may qualify for “innocent spouse relief Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse… Read More
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Understanding taxes on real estate gains
Understanding taxes on real estate gains Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a… Read More
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Don’t let myths and self-doubt thwart your capital campaign plan
Don’t let myths and self-doubt thwart your capital campaign plan It’s understandable if your not-for-profit has been putting off launching a capital campaign — despite having grand plans to build a new facility, make major purchases or expand a… Read More
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Would an adoption assistance program suit your company?
Would an adoption assistance program suit your company? There’s no one-size-fits-all benefits package for today’s businesses. The optimal combination of tax-friendly fringe benefits depends on various factors, including the size and demographics of your workforce. One option to consider, if… Read More
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How are Series EE savings bonds taxed?
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as… Read More