BOI injunction lifted: FinCEN grants 30-day filing delay
The ongoing developments surrounding the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements took another turn on February 16, 2025.
Beyond Boomers: How to engage younger generations with your nonprofit
Make sure your nonprofit marketing efforts are reaching Gen X, Millennials and Gen Z. Try to target them on the social media platforms they frequent. Gen Xers and Millennials like to make recurring donations and give via work while Gen Z members are more likely to use phone apps and social impact purchasing. Contact our nonprofit advisors for donation assistance.
A revocable trust can be a versatile tool in your estate plan
A revocable trust is a popular estate planning tool that allows you to manage your assets during your lifetime and ensure a smooth transfer of those assets to your family after your death. However, like any legal instrument, a revocable trust has certain disadvantages. Contact the estate planning advisors at SEK with questions.
Child tax credit: The rules keep changing but it’s still valuable
The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether you’re new to claiming the credit or you’ve benefited from it for years, it’s crucial to stay current on its rules and potential changes. As we approach the expiration of certain provisions within the Tax Cuts and Jobs Act (TCJA) at the end of 2025, here’s what you need to know about the CTC for 2024, 2025 and beyond. Contact SEK's tax advisors with questions.
Questions about taxes and tips? Here are some answers for employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels and salons. Compliance with federal and state tax regulations is vital if your business has employees who receive tips. Contact SEK's business tax advisors with your tax questions.
Charitably inclined? Pair a donor-advised fund with your estate plan
Your estate plan is the perfect place to make charitable gifts if you’re charitably inclined. One option is to consider using is a donor-advised fund (DAF). It allows you to set aside funds for charitable giving while you’re alive, and you (or your heirs) can direct donations over time. Contact SEK's estate planning advisors for assistance.
Many business tax limits have increased in 2025
A variety of tax-related limits that affect businesses increased in 2025 based on inflation. And most limits related to employer-sponsored retirement plans, such as 401(k)s, are higher this year. Contact the business tax advisors and CPAs at SEK if you have questions about your tax situation.
Taming the tax tangle if you’re retiring soon
Retirement is a chance to travel, visit with family or just enjoy relaxing. Yet retirement may bring a tangle of tax implications. Some examples include, selling your home, change in earnings, change in Social Security benefits, and required minimum distributions from traditional IRAs and 401(k)s. Contact the tax advisors at SEK with questions.
Rebuilding your nonprofit’s operating reserves
If your nonprofit has operating reserves, they can help prevent service disruptions and an urgent search for alternate funding. If you don’t have reserves, create a formal written reserves policy as soon as possible. Our nonprofit advisors can assist you with establishing operating reserves if needed.
Provide your heirs the option of creating an inheritor’s trust
An inheritor’s trust is a specialized estate planning tool designed to protect and manage assets you pass to a beneficiary. One of its primary advantages is asset protection. It allows your beneficiary to receive his or her inheritance in trust rather than as an outright gift or bequest. Thus, the assets are kept out of his or her own taxable estate. Contact SEK's estate planning advisors to set up an inheritor's trust.