A goal of estate planning is to maximize the wealth that is passed on to one's heirs. In this video, we'll discuss how a Spousal Lifetime Access Trust and an Irrevocable Life Insurance Trust may help you minimize estate taxes and protect wealth.
Nonprofit board service can be as exhausting as it is rewarding. Whether you are on a board yourself, thinking about joining a board, or seeking to improve the one you sit on, here are three things that high-functioning nonprofit boards get right.
Starting in 2024, tax credits for electric vehicles could be transferred to dealers, reducing the vehicle's purchase price. The proposal aims to expand EV adoption by offering immediate financial benefits and broadening the pool of eligible consumers.
Discover how a recent decision by the National Labor Relations Board could reshape workplace policies and potentially impact your business. Learn more about Section 7 of the National Labor Relations Act and the NLRB decision means for employee rights and how it could affect your company's rules.
Gain a clear understanding of how property taxes are calculated, including the crucial role of the mill rate and how the assessed value of your property is determined, empowering you to make informed decisions.
The home office deduction offers a valuable tax break for the self-employed, freelancers, and independent contractors. Learn about the deduction and how it may reduce your tax liability.
Get ready for the end of the student loan payment suspension and discover the new SAVE plan, a restructuring of student loan repayments that offers expanded eligibility, reduced payments, and greater income protection.
Discover the benefits of private foundations for managing charitable giving and how they differ from donor-advised funds. Gain greater control and flexibility over your philanthropic efforts while creating a lasting legacy of giving for future generations.
Congress has enacted a new, significant and pervasive compliance program: the Corporate Transparency Act (CTA). The CTA requires reports of beneficial ownership information (BOI) and is estimated to affect more than 32 million existing entities (even after exemptions). Initial reporting for existing entities will commence January 1, 2024, and must be completed before January 1, 2025.
IRS declares immediate moratorium on processing new claims for Employee Retention Credit due to concerns of scams and improper claims, urging businesses to seek advice from trusted tax professionals.
For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we'll explain what it is, how it's calculated, and how it affects a business's profitability, cash flow, and overall growth.
As an owner of an S-Corp, understanding the concept of reasonable compensation is crucial for tax planning and compliance. Learn about the IRS's reasonable compensation rules for determining how much should be taken in the form of wages versus pass-through income.
Choosing the right state for incorporating your LLC can significantly impact your business financially and legally. This article explores the key factors to consider, including annual fees, taxes, owner privacy, and business operations, to help you make an informed decision.
Discover how the IRS is providing much-needed relief for Required Minimum Distributions (RMDs) in light of the SECURE 2.0 Act. Learn about the new transition rules that could potentially benefit retirees and their tax planning strategies.
