Tax

09/12/2024

Rental Income for Nonprofits: Unrelated Business Income Tax or Exempt?

Donations and grants are typically the first things that come to mind when considering nonprofit funding sources. However, many organizations...

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Non-Profit

09/03/2024

Are you liable for two additional taxes on your income? 

If you have a high income, there are additional taxes that may apply to you. To stay informed and up...

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Tax

08/30/2024

Estate Planning? Don’t Overlook Income Taxes

In 2011, there was a much smaller estate tax exemption, compared to the $13.51 million exemption of 2024, leading many...

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Tax

08/26/2024

Divorce in your future? Be aware of these tax implications.

Divorce can be challenging, and taxes might be the last thing on your mind. However, certain tax issues are important...

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Tax

08/22/2024

Voluntary Disclosure Program: IRS Provides Last Chance to Payback Improper ERC claims filed for 2021

On August 15, 2024, in Announcement 2024-212, the IRS provided a limited re-opening of the second round of a Voluntary...

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Business

08/14/2024

Tax Implications for Series EE Savings Bonds

Savings bonds are purchased every year by many Americans, often as a way to save money while maintaining low risk....

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Tax

08/09/2024

The DOJ and FBI Continuing to Investigate PPP Loan Recipients for Fraud

For several months now, a number of agencies, including the Federal Bureau of Investigation (FBI), have been working diligently to...

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Business

08/09/2024

IRS begins to process low risk ERC claims, review ERC claims, & notify taxpayers of claim denials where they’ve found red flags

The Internal Revenue Service (IRS) has started sending out denial letters related to the employee retention credit (ERC). The IRS...

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Business

08/07/2024

Weighing the benefits and risks associated with borrowing funds from your corporation

If you own a closely held corporation, you have the option to borrow funds from your business at rates that...

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Tax

07/25/2024

You may wonder what the future looks like as TCJA provisions are scheduled to expire

Get ready, America. With the upcoming elections big changes may be instore for tax laws. Our Current Situation The Tax...

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Tax

07/22/2024

Determining Your Estimated Tax Payments

Understanding and managing your estimated tax payments is an important aspect of proactive tax planning and strategy. For individuals with...

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Tax

06/19/2024

Homeowner but Cash Loaner? The Reverse Mortgage Strategy

Are you an older taxpayer who owns a house that has appreciated in value but could use an additional source...

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Tax