Overview of the offsetting rules
As companies explore hedging strategies in today’s uncertain economy, management might need to become familiar with the accounting rules for offsetting. Here are the basics, including what needs to be disclosed in your footnotes about these contractual arrangements.
How to get the financing your nonprofit needs
Relatively high interest rates and tight lending standards are making it difficult for even for-profit businesses to apply and qualify for bank loans.
SEK, CPAs & Advisors celebrates 60th anniversary
A full-service, certified public accounting and consulting firm, SEK, CPAs & Advisors first opened its doors in 1963.
11 Exceptions to the 10% penalty tax on early IRA withdrawals
If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve reached age 59½. Here’s what you need to know about the tax implications, including when the 10% early withdrawal penalty tax might apply.
A cost segregation study may cut taxes and boost cash flow
Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow.
Using your 401(k) plan to save this year and next
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg. Contact the tax advisors and retirement planning advisors at SEK with your questions.
Consider providing your beneficiaries with the power to remove a trustee
To ensure that a trust operates as intended, it’s critical to appoint a trustee that you can count on to carry out your wishes.
What you need to know about restricted stock awards and taxes
Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if the price of the underlying stock takes a dive.
Help donors help your nonprofit with a planned gift
Most established not-for-profits are already equipped to solicit and accept planned gifts. But if your nonprofit is new to planned giving and doesn’t yet understand the long-term advantages of deferred gifts, it’s a good time to get up to speed.
2023 Year-End Year-Round Tax Planning Guide
At SEK, we are dedicated to helping you maximize your income through a variety of tax-saving strategies. We are excited to share our 2023 Year-End Year-Round Tax Planning Guide, which includes: