Do you have a 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.
Your board can’t do its job without information from you
If your not-for-profit’s board members don’t have the information they need to make decisions, the repercussions can be severe. Board time can be wasted, voting may be delayed and your organization may be unable to act when it needs to.
Factor in taxes if you’re relocating to another state in retirement
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant.
Record expenses in QuickBooks Online and on your phone
The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it.
Would you like to establish a Health Savings Account for your small business?
With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA).
When nonprofits should return donations
Return requests generally are rare, but occasionally donors may ask your not-for-profit to return their gifts. Are you required to comply? What if you’ve already spent the money? Such requests raise many difficult questions — and even the answers can be complicated.
Hillary Grove, Manager at SEK, CPAs & Advisors Voted Best Accountant by Herald Mail Readers
FOR IMMEDIATE RELEASEOctober 29, 2021
Opportunities and challenges: Valuation in the age of COVID-19
Valuation and estate planning go hand in hand. After all, the tax implications of various estate planning strategies depend on the value of your assets at the time they’re transferred.
Thinking about participating in your employer’s 401(k) plan? Here’s how it works
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan at work, here are some of the features.
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax.