5.23.23
The IRS Has Just Announced 2024 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Fundamentals An HSA is a trust created or organized…
5.23.23
Employers: Beware of Employee Retention Credit Schemes From Third-Party Promoters
You’ve almost certainly heard of the Employee Retention Tax Credit (ERC) since it was introduced on March 27, 2020, as part of the Coronavirus Aid,…
5.23.23
You Filed Your 2022 Tax Returns, Now Let’s Look Ahead
Another busy tax filing season is behind us and with a return to normalcy this year, without significant processing delays at the Internal Revenue Service…
5.22.23
Can Individual Taxpayers Deduct Vehicle Expenses?
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also may be able to deduct them in certain circumstances, if…
5.22.23
Bolster Wealth Management With Trusts
Trusts can be a useful tool for affluent individuals and families when it comes to wealth management, protection and growth. But there are a wide…
5.22.23
A Refresher on Nonprofit Endowment Management
If your not-for-profit has an endowment, you probably know it’s a major responsibility. Endowment investments generally need to be managed by a financial expert, and…
5.22.23
Your Nonprofit Probably Won’t Be Audited by the IRS, but if It Is …
Despite recent accusations that the IRS targets certain types of tax-exempt organizations for audit, not-for-profit audits generally are rare. That’s because most nonprofits owe no…
5.22.23
Make a Fraud Recovery Plan Now, Before Your Nonprofit Is Defrauded
According to the Association of Certified Fraud Examiners (ACFE), not-for-profit organizations make up 9% of all defrauded organizations. Such attacks — and losses — can…
5.22.23
Tips and Best Practices for Nonprofit Cost Allocations
A significant challenge facing many nonprofit organizations involves determining how much of their resources and expenses go toward each of their projects. Nonprofits do not…
5.18.23
Social Security’s Future: The Problem and the Proposals
Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered…