What does “probate” mean?
The term “probate” is one you’ve probably heard and might associate with negative connotations. But you may not fully understand what it is. For some people, the term conjures images of lengthy delays waiting for wealth to be transferred as well as bitter disputes among family members.
What makes charitable donors give?
People give to charity for many reasons — to “make a difference” or “give back,” to reduce their tax burden and even to impress their peers. These many motivations can be frustrating for not-for-profits looking for a magic formula.
Separating your business from its real estate
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach.
Seller-paid points: Can homeowners deduct them?
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year.
Why auditors prefer in-person interviews to assess fraud risks
Auditing standards require financial statement auditors to identify and assess the risks of material misstatement due to fraud — and to determine overall and specific responses to those risks. Here’s why face-to-face meetings are essential when assessing these risks.
Is your income high enough to owe two extra taxes?
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT
How your nonprofit can break bad budget habits
Autumn is here and many not-for-profits are starting to think about their 2023 budgets.
Want to see into the future? Delve deeper into forecasting
For a company to be truly successful, its ownership needs to attempt the impossible: see into the future.
Does your trust provide for the removal of a trustee?
To ensure that a trust operates as intended, it’s critical to appoint a trustee that you can count on to carry out your wishes.
Year-end tax planning ideas for your small business
Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next.