Intrafamily loans must be handled with care
Is one of your top estate planning goals to provide your family with financial security at the lowest tax cost?
Navigate the risky business of nonprofit borrowing
Should your not-for-profit apply for a loan? Perhaps you want to buy new equipment or build an extension to an existing facility. Maybe your nonprofit generates revenue unevenly or you need help to recover from a financial blow.
The power of catch-up retirement account contributions after 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s).
Receive $10,000 in cash at your business? The IRS wants to know about it
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return.
A quiet trust has its benefits, but an incentive trust may be a better option
When it comes to estate planning, one of the more nuanced tools available is a quiet trust (also known as a “silent” trust).
Building a better nonprofit budget
Does your nonprofit start its budget process from scratch each year or do you mostly make simple adjustments to the previous year’s budget?
Payroll tax implications of new tax breaks on tips and overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that.
Run a business with your spouse? You may encounter unique tax issues
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues.
Is a custodial account right for your family?
If you’re considering opening an investment account for your minor child or grandchild to help him or her save for the future, a custodial account can be a useful option.
Recruiting is more than a job posting
For many small business owners, recruiting begins and ends with a job posting. You write a description, post it online, and wait for the right candidate to apply.