Avoiding undue influence claims
A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family member challenges the plan, that purpose may be defeated. If the challenge is successful, a judge will decide who’ll inherit your property.
Handle your nonprofit’s restricted gifts with care
Most not-for-profits encourage donors to make unrestricted contributions that will give the organization flexibility to use the money where it’s needed most. But there will always be some donors who place restrictions on their gifts — and these require a higher level of responsibility.
Reporting and managing inventory
Ineffective inventory management and reporting can result in bloated working capital and impaired business profits. In industries that rely on overseas suppliers, best practices for managing inventory may have recently changed.
How will revised tax limits affect your 2022 taxes?
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation.
Businesses with employees who receive tips may be eligible for a tax credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit
IRS issues information letters to Advance Child Tax Credit recipients and recipients of the third round of Economic Impact Payments
The Internal Revenue Service has begun issuing information letters to Advance Child Tax Credit recipients in December and to recipients of the third round of the Economic Impact Payments at the end of January.
Treasury Issues Final Rule for ARPA State and Local Fiscal Recovery Funds Program
Today, the United States Treasury released the much-anticipated final rule governing spending guidelines for the American Rescue Plan Fiscal Recovery Funds Program (SLFRF).
3 steps to a more financially resilient future
It’s a new year with new opportunities for your not-for-profit to boost its financial resilience. Although COVID-19 continues to make forecasting difficult, your staff and your board’s finance committee can take steps to negotiate obstacles. Here are three.
SEK Announces Supervisor and Senior Associate Promotions
FOR IMMEDIATE RELEASEJanuary 1, 2022 SEK Announces Supervisor and Senior Associate Promotions
Making funeral arrangements in advance can ease family turmoil after your death
It’s difficult for many people to think about their mortality, so it’s not surprising to learn that many put off planning their own funerals. Unfortunately, this lack of planning may result in emotional turmoil for surviving family members when someone dies unexpectedly.