Do you have a will?
When a person considers an “estate plan,” he or she typically thinks of a will. And there’s a good reason: A well-crafted, up-to-date will is the cornerstone of an estate plan. Let’s take a closer look at what to include in a will. Contact the estate planning advisors at SEK with questions.
How are you onboarding new hires?
Bringing a new hire into your organization is an exciting opportunity to strengthen your team and set the stage for long-term success. A well-thought-out onboarding process helps new employees feel welcome, aligned with your organization’s goals, and ready to contribute. Here are some practical suggestions for creating an effective onboarding experience.
Individuals: Use the annual gift tax exclusion to the max
With the holidays approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using your annual gift tax exclusion, those gifts, within generous limits, can reduce your taxable estate. For 2024, the annual gift exclusion amount is $18,000 per recipient. Contact the CPA's and business tax advisors at SEK with questions.
What nonprofits might expect from the change of control in Washington
The reelection of Donald Trump as President and control of the U.S. Congress by Republicans are anticipated to usher in changes that could financially impact the not-for-profit sector. Each organization will be affected differently, but in general, you may want to keep an eye on the following issues. Contact the nonprofit advisors at SEK with questions and concerns.
Healthy savings: How tax-smart HSAs can benefit your small business and employees
As a small business owner, managing health care costs for yourself and your employees is challenging. So you may want to provide some benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs are a tax-advantaged way to set aside funds (or have their employers do so) to meet medical needs. Contact the business advisors at SEK with questions.
Corporate Transparency Act blocked nationwide by Texas court
The Corporate Transparency Act and its implementing regulations, which require US business entities to report stakeholder information to the Treasury Department, were preliminarily blocked nationwide by a Texas federal court on Tuesday.
Keep your nonprofit’s special event safe and successful
Most not-for-profits depend on special events to raise money, attract supporters and boost their profiles. But whether you’re hosting a formal dinner, golf tournament, holiday bazaar or other event, know that almost all special events encounter unexpected issues, if not downright emergencies. Contact the nonprofit advisors at SEK for help with creating a crisis management plan for your event.
How inflation will affect your 2024 and 2025 tax bills
Inflation has slowed down considerably in the last couple of years. What does this mean for your federal tax bill? Here are the inflation-adjusted amounts for several provisions in 2025, compared to 2024. Contact the CPAs and tax advisors at SEK with questions.
When can you deduct business meals and entertainment?
Business-related meal deductions can be valuable, but the rules can be complex. Under current law, your business can’t deduct most entertainment expenses. There are, of course, several exceptions. Contact the business tax advisors at SEK if you want more information.
How to set up a bookkeeping cycle in QuickBooks Online
Do you have a regular schedule you follow with your QuickBooks Online work? It can be a good strategy.