Accounting & Assurance Insights

Tax Prep, Planning & Strategy

3 reasons you should continue making lifetime gifts

Now that the gift and estate tax exemption has reached a record high of $11.18 million (for 2018), it may seem that gifting assets to loved ones…

Accounting & Assurance

When should you reconsider a special event?

Not-for-profits use special events to raise large amounts in a short period of time. Most often, the donor receives a direct benefit from the…

Tax Prep, Planning & Strategy

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can…

Accounting & Assurance

Make a licensing agreement work for your nonprofit

Licensing your not-for-profit’s name to a for-profit company can provide a valuable new revenue source — but it can also be risky. If you’re…

Accounting & Assurance

Nonprofits should be prepared for sudden outpouring of support

Americans gave unprecedented sums to charity in response to the devastating hurricanes last year. Large organizations, such as the American Red…

Tax Prep, Planning & Strategy

IRS issues guidance on new bonus depreciation rules

The Tax Cuts and Jobs Act (TCJA) significantly expands bonus depreciation under Section 168(k) of the Internal Revenue Code for both regular…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
7 Jan

"How does your federal tax bill affect Medicare insurance premiums? How much will monthly Medicare premiums be in 2025? Here are the answers to those and other questions." https://bit.ly/4femneJ

wcscpas Weyrich Cronin Sorra @wcscpas ·
6 Jan

The ongoing saga of the beneficial ownership information reporting requirements isn’t over. A federal appeals court and the government now say that more than 30 million businesses no longer have to file reports in January 2025. https://bit.ly/3W9Ou89