Weathering the storm of rising inflation
Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic?
For Maryland businesses, Personal Property Exemption raised from $2,500 TO $20,000
A new law has raised the exemption for personal property assessment for all Maryland businesses from $2,500 to $20,000. HB268 will save
Last call for lease accounting
The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with the changes.
Reviewing — and possibly revising — your nonprofit’s spending policy
A spending policy is the formula used to determine how much of the value of investments a nonprofit organization will tap each year for such expenses as operating costs and capital projects.
IRS extends relief for physical presence signature requirement
Under IRS regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed “in the physical presence” of the representative or notary — unless guidance has provided an alternative procedure.
The GST tax and your estate plan: What you need to know
Here’s a not-so-fun fact: The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code.
SEK Announces Mid-Year Promotions
FOR IMMEDIATE RELEASEJune 30, 2022 SEK Announces Mid-Year Promotions
Election season is here! Watch your nonprofit’s activities
Many states have already held primary elections, and the airwaves are clogged with candidate ads. Yes, the November “mid-terms” election season has begun! So now is a good time to review political activity restrictions that affect Section 501(c)(3) organizations.
Keeping up with receivables: Know who owes you
QuickBooks Online provides numerous ways for you to know which customers owe you money – and who is late.
National Taxpayer Advocate issues midyear report to Congress, expresses concerns
National Taxpayer Advocate Erin M. Collins has released her statutorily mandated midyear report to Congress.