You may be ABLE to save for a disabled family member with a tax-advantaged account
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses. Contact the CPAs and tax advisors at SEK for more info.
IRS delays Roth 401(k) contributions rule for high earners
Recently, there’s been concern over planned changes to rules governing catch-up contributions for 401(k) plans. The changes, which initially were going to be effective in 2024, will require catch-up contributions for higher-income earners to be made on a Roth basis.
Every nonprofit needs a disaster plan
Almost no region of the United States has escaped some form of natural disaster or extreme weather this summer.
Planning ahead for 2024: Should your 401(k) help employees with emergencies?
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies.
To avoid confusion after your death, have only an original, signed will
The need for a will as a key component of your estate plan may seem obvious, but you’d be surprised by the number of people — even affluent individuals — who don’t have one.
5 tips for more easily obtaining cyberinsurance
Every business should dedicate time and resources to cybersecurity. Hackers are out there, in many cases far across the globe, and they’re on the prowl for vulnerable companies.
Private foundations need strong conflict-of-interest policies
Although conflict-of-interest policies are essential for all not-for-profits, private foundations must be particularly careful about adhering to them. In general, stricter rules apply to foundations.
Can you deduct student loan interest on your tax return?
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits.
Should your business add a PTO buying feature to its cafeteria plan?
With a red-hot summer in full swing, many of your company’s employees may be finally rediscovering the uninhibited joys of vacation.
Chapter 11: How business valuators can help companies reorganize
Most people equate business bankruptcy with liquidating a company’s assets and using the proceeds to repay creditors. That’s a Chapter 7 filing under the U.S. Bankruptcy Code, but closing shop isn’t a foregone conclusion in bankruptcy.