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ABLE accounts can benefit loved ones with special needs

BY IN Tax Blog On 13-07-2017

For families with disabled family members who’re potentially eligible for means-tested government benefits such as Medicaid or Supplemental Security Income (SSI), estate planning can be a challenge. On the one hand, you want to provide the most comfortable life possible [...]

1 week ago / Comments Off on ABLE accounts can benefit loved ones with special needs

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Make sure your company is prepared for any disaster

BY IN Tax Blog On 12-07-2017

What could stop your company from operating for a day, a month or a year? A flood or fire? Perhaps a key supplier shuts down temporarily or permanently. Or maybe a hacker or technical problem crashes your website or you [...]

2 weeks ago / Comments Off on Make sure your company is prepared for any disaster

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When does your nonprofit owe UBIT on investment income?

BY IN Tax Blog On 12-07-2017

In recent years, the IRS has increased its scrutiny of not-for-profits’ unrelated business income (UBI). Dividends, interest, rents, annuities and other investment income generally are excluded when calculating unrelated business income tax (UBIT). However, there are two exceptions where such [...]

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All fringe benefits aren’t created equal for tax purposes

BY IN Tax Blog On 10-07-2017

According to IRS Publication 5137, Fringe Benefit Guide, a fringe benefit is “a form of pay (including property, services, cash or cash equivalent), in addition to stated pay, for the performance of services.” But the tax treatment of a fringe [...]

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Why your nonprofit must avoid excess benefit transactions

BY IN Tax Blog On 05-07-2017

Not-for-profits that ignore the IRS’s private benefit and private inurement provisions do so at their own peril. These rules prohibit an individual inside or outside a nonprofit from reaping an excess benefit from the organization’s transactions. Violation of such rules [...]

3 weeks ago / Comments Off on Why your nonprofit must avoid excess benefit transactions

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Are you familiar with fraudulent transfer laws?

BY IN Tax Blog On 29-06-2017

A primary goal of your estate plan is to transfer wealth to your family according to your wishes and at the lowest possible tax cost. However, if you have creditors, be aware of fraudulent transfer laws. In a nutshell, if [...]

3 weeks ago / Comments Off on Are you familiar with fraudulent transfer laws?

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Managing the risks of your nonprofit’s special events with insurance

BY IN Tax Blog On 29-06-2017

Not-for-profit special events can be lucrative from a fundraising standpoint, but they also carry significant risks. Proper insurance coverage can help protect your organization. Special event, special planning Risks associated with special events run the gamut from accidents and personal [...]

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Leaving specific assets to specific heirs is an estate planning no-no

BY IN Tax Blog On 22-06-2017

Planning your estate around specific assets is risky and, in most cases, should be avoided. If you leave specific assets — such as a home, a car or stock — to specific people, you could end up inadvertently disinheriting someone. [...]

1 month ago / Comments Off on Leaving specific assets to specific heirs is an estate planning no-no

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Seasonal business? Optimize your operating cycle

BY IN Tax Blog On 21-06-2017

Every business has some degree of ups and downs during the year. But cash flow fluctuations are much more intense for seasonal businesses. So, if your company defines itself as such, it’s important to optimize your operating cycle to anticipate [...]

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3 types of information your nonprofit’s board needs

BY IN Tax Blog On 21-06-2017

Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone message. Board members should, however, [...]

1 month ago / Comments Off on 3 types of information your nonprofit’s board needs

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