Estate planning when time is short
For those whose life expectancies are short estate planning can be difficult. But while money matters may be the last thing you want to think about when time is limited, a little planning can offer you and your family financial peace of mind. Contact our estate planning advisors at SEK with questions.
When nonprofit contributions are quid pro quo
Charitable contributions aren’t always eligible for tax deductions — even when the not-for-profit recipient is tax exempt and the donor itemizes. Take “quid pro quo” donations.
Act 9 brings changes to PA employer obligations for unemployment compensation
On March 27, 2020, Governor Wolf signed Act 9 of 2020 into law, which requires employers to provide employees with informati
Is your nonprofit’s tap running dry?
The novel coronavirus (COVID-19) crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow has dried up, your organization may need to do more than trim expenses.
PA unemployment updates for the self-employed
On April 24th, Pennsylvania set up a separate website using the term “PUA” for self-employed Schedule C individuals to file for unemployment if their business was shut down or decreased due to COVID-19. It was fully functioning as of May 7th and Pennsylvania has started to release money as of May
Drafting your will using online tools can lead to unwanted outcomes
If you don’t have a will, drafting one should be your first step in developing a comprehensive estate plan. It may be tempting to turn to online do-it-yourself (DIY) tools that promise to help you create a will (and other estate planning documents). Even though this may be a relatively cheap option, using these online tools is risky except in the simplest cases. Contact the estate planning advisors at SEK with questions.
Using QuickBooks' Reminders and Calendar
Now, more than ever, you need QuickBooks to track what needs to be done.
Benchmarking: Why normalizing adjustments are essential
Financial statements aren’t particularly meaningful without a relevant basis of comparison. There are two types of “benchmarks” that a company’s financials can be compared to — its own historical performance and the performance of other comparable businesses.
Hiring independent contractors? Make sure they’re properly classified
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake.
SEK Named Best Accounting Firm in the Tristate
FOR IMMEDIATE RELEASEApril 22, 2020 SEK Named Best Accounting Firm in the Tristate