Restructuring a Nonprofit Organization
If you are looking for a way to increase outreach and consolidate resources, restructuring your nonprofit organization may be the key. Doing so can also help reduce costs for your
Can Seniors Deduct Medicare Premiums?
Everyone needs medical insurance, but as we age, our plan needs change. Individuals 65 and older who have basic medicare insurance may need additional plans to reach the level of
Beware Of A Stealth Tax On Social Security Benefits
You should be aware of the stealth tax opposed on your social security benefits. Many people believe that social security benefits are exempt from federal income tax. Sadly, that is
How The Inflation Reduction Act Benefits Nonprofits
The inflation Reduction Act (IRA) became law in late 2022, and many assumed there would be no benefits for nonprofits. Fortunately, this is not the case. There is a lot
Retirement Income Planning
Will your retirement income planning be successful enough to ensure that you can retire at the age you’re thinking of? Do you know how much you actually need and will
Tax Implications When Turning Your Hobby Into A Business
There are tax implications to consider when turning your hobby into a business. Perhaps you enjoy sewing and would like to open a seamstress business. Or maybe you would like
Taxes On An Appreciated Vacation Home
In general, owners can get way more than they paid for their vacation home if it’s located in an upscale area. While this is a good thing for the home
How To Ask Charitable Donors To Include You In Their Estate Plans
As a nonprofit, you can’t afford to neglect deferred, legacy or planned gifts. Generally, these gifts are made through living trusts and wills and are much larger than not-for-profit donations.
Tax Filing Status: Filing Jointly or Separately As A Married Couple
You must choose a tax filing status when you file your tax return. This status is used to determine your correct tax, eligibility for certain tax breaks, tax rates and
Filing Late Taxes Penalty
Income tax deadline may feel like it’s approaching at rocket speed if you haven’t caught up on your bookkeeping. Don’t make the situation worse by filing late taxes as this
