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Asset valuations and your estate plan go hand in hand

BY IN Tax Blog On 25-05-2017

If your estate plan calls for making noncash gifts in trust or outright to beneficiaries, you need to know the values of those gifts and disclose them to the IRS on a gift tax return. For substantial gifts of noncash [...]

5 days ago / Comments Off on Asset valuations and your estate plan go hand in hand

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How nonprofit youth sports leagues can prevent fraud

BY IN Tax Blog On 24-05-2017

Many not-for-profit youth sports leagues are at risk for fraud and don’t even know it. Because cash transactions are common and leagues usually are managed by volunteers with little oversight, it’s easy for crooked individuals to take advantage of the [...]

6 days ago / Comments Off on How nonprofit youth sports leagues can prevent fraud

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Could stronger governance benefit your business?

BY IN Tax Blog On 24-05-2017

Every company has at least one owner. And, in many cases, there exists leadership down through the organizational chart. But not every business has strong governance. In a nutshell, governance is the set of rules, practices and processes by which [...]

6 days ago / Comments Off on Could stronger governance benefit your business?

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Business owners: When it comes to IRS audits, be prepared

BY IN Tax Blog On 22-05-2017

If you recently filed for your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every [...]

1 week ago / Comments Off on Business owners: When it comes to IRS audits, be prepared

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It may be time for your company to create a strategic IT plan

BY IN Tax Blog On 18-05-2017

Many companies take an ad hoc approach to technology. If you’re among them, it’s understandable; you probably had to automate some tasks before others, your tech needs have likely evolved over time, and technology itself is always changing. Unfortunately, all [...]

2 weeks ago / Comments Off on It may be time for your company to create a strategic IT plan

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What really motivates nonprofit donors

BY IN Tax Blog On 17-05-2017

What do charitable donors want? The classic answer is: Go ask each one individually. However, research provides some insight into donor motivation that can help your not-for-profit grow its financial support. Taxing matters The biennial U.S. Trust® Study of High [...]

2 weeks ago / Comments Off on What really motivates nonprofit donors

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Hire your children to save taxes for your business and your family

BY IN Tax Blog On 15-05-2017

It can be difficult in the current job market for students and recent graduates to find summer or full-time jobs. If you’re a business owner with children in this situation, you may be able to provide them with valuable experience [...]

2 weeks ago / Comments Off on Hire your children to save taxes for your business and your family

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Prepaid funeral plans may not provide peace of mind

BY IN Tax Blog On 11-05-2017

The cost of a funeral has increased steadily during the past two decades. In fact, once all funeral-related costs are factored in, the typical traditional funeral service will cost an average family $8,000 to $10,000. To relieve their families of [...]

3 weeks ago / Comments Off on Prepaid funeral plans may not provide peace of mind

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Nonprofits: Don’t gamble with gaming fundraisers

BY IN Tax Blog On 10-05-2017

Whether you’re planning to raise funds for your not-for-profit with a simple bingo game or raffle, or with a more elaborate casino night, you need to understand and follow the federal rules that govern these kinds of activities. Gaming activities [...]

3 weeks ago / Comments Off on Nonprofits: Don’t gamble with gaming fundraisers

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Operating across state lines presents tax risks — or possibly rewards

BY IN Tax Blog On 08-05-2017

It’s a smaller business world after all. With the ease and popularity of e-commerce, as well as the incredible efficiency of many supply chains, companies of all sorts are finding it easier than ever to widen their markets. Doing so [...]

3 weeks ago / Comments Off on Operating across state lines presents tax risks — or possibly rewards

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