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Operating reserves can help cushion financial blows

For many of your nonprofit’s staffers, high inflation equals high anxiety. In this time of economic uncertainty, prioritize candid communications so employees’ worries won’t affect their work.

Year-end giving to charity or loved ones

Many people like to give thanks at this time of year by donating to their favorite charities. Here are the basic 2022 rules for charitable contributions and gifts to loved ones.

Preparing for year-end inventory counts

A physical inventory count gives a snapshot of how much inventory your company has on hand at year end. Are you ready to start counting?

Act Now to Reduce Your Business’s 2022 Tax Bill

As 2022 winds down, now is the time for your business to take stock of its tax situation and implement year-end tax planning strategies.

5 Steps to Take Now to Cut Your 2022 Individual Tax Liability

Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps.

Putting accountability into practice

Nonprofits that embrace accountability can generally expect improved collaboration and better outcomes. How can your organization put this abstract concept into practice?

How Inflation Will Affect Your 2022 and 2023 Tax Bills

Many people are feeling the squeeze of inflation. What does this mean for your federal tax bill? Here’s what the inflation-adjusted amounts will be for several provisions in 2023, as compared with 2022.

Employers: In 2023, the Social Security wage base is going up

Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a certain threshold aren’t subject to Social Security tax. Here’s how the 2023 “wage base” will affect your payroll.

Plan now to make tax-smart year-end gifts to loved ones

As we head toward year end, many people are starting to plan to give gifts to their loved ones. Here’s how to avoid gift tax implications.

Insights

Update on retirement account required minimum distributions

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The SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules. Continue Reading Update on retirement account required minimum distributions

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The tax deadline is almost here: File for an extension if you’re not ready

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The April 15 tax deadline is approaching, but what if you’re not ready to file? There are some simple steps you can take to avoid steep penalties. Continue Reading The tax deadline is almost here: File for an extension if you’re not ready

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Coordinating Sec. 179 tax deductions with bonus depreciation

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There’s more than one way for businesses to claim depreciation tax deductions. By combining them, you can get optimal tax-saving results. Continue Reading Coordinating Sec. 179 tax deductions with bonus depreciation

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