Has your not-for-profit anticipated a shake-up at the top? If not, it needs to. Perhaps your long-standing CEO will decide it's time to retire. Or maybe your board will determine that your current leader is ineffectual. Or perhaps your organization will agree to merge with another nonprofit or undertake a restructuring that requires a leader with a different skill set than that of your current executive director.
In the News
Friday, March 13, 2020
Friday, March 13, 2020
Whether the residential real estate market is up or down, there are always homeowners who want to — or have to — sell their homes. If you're a prospective seller making your property look like a model home in the hopes of raking in a nice profit, now is a good time to review how taxes will factor into the transaction. With the home sale gain exclusion tax break, the profit from selling your principal residence might be free from federal income taxes (and possibly state income taxes too). The rules are straightforward for most sellers.
Friday, March 13, 2020
With a so-called "stretch IRA," you build up money in a traditional or Roth IRA during your lifetime. Then, after you die, a younger beneficiary can opt to keep the inherited account open for as long as possible and continues to reap the tax-related benefits.
Friday, March 13, 2020
The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct 50% of the cost of taking clients out for a round of golf.
Thursday, February 27, 2020
The receiving dock is an often-neglected cash leak for manufacturers. Shipment delays, poor labeling and confusing packaging can severely slow production and cut your profitability.
Thursday, February 27, 2020
When the busy season comes, the last thing on your mind is accounting for your projects. You and your employees are concerned with only one thing: keeping up in delivering quality projects on time.
Bookkeeping comes long after your firm's other priorities such as...
• a broken down delivery truck with five pallets of job-site materials on the highway,
Thursday, February 27, 2020
If you're an employee of your practice, you may receive company-paid long-term disability insurance coverage as a tax-free fringe benefit.
Thursday, February 27, 2020
Do these behaviors sound familiar? Difficult to please and easy to disappoint. Constantly whining, complaining, pouting, sulking. Downright negative. Do these definitions describe any of your employees or the people you work with?
Thursday, February 27, 2020
When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a tax return.
Thursday, February 27, 2020
Roughly 15 million individual taxpayers filed for an automatic six-month extension for the 2018 tax year, according to the IRS, compared with about 10 million people in previous years. Why did the number of extensions surge last year? Most changes under the Tax Cuts and Jobs Act went into effect in 2018. So, many people who filed an extension weren't just procrastinating — they were taking extra time to digest the 2017 tax law.
