LanguageEnglish
+

Friday, 20 May

Search Engine

The donor-advised fund: A powerful vehicle for charitable giving

Robert Tighe

Posted By: Robert Tighe

Posted February 10, 2022 / No comments

If charitable giving is important to you, consider a donor-advised fund (DAF). A DAF — typically sponsored and managed by a community foundation or commercial investment company — offers many of the benefits of a private foundation at a fraction of the cost. Upsides of a DAF A DAF allows you to make tax-deductible contributions

Read More

Did you give to charity in 2021? Make sure you have substantiation

Timothy King

Posted By: Timothy King

Posted February 8, 2022 / No comments

If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends. The requirements To prove a charitable

Read More

Audit disclosures: Why the fine print is important

Stephen Leazzo

Posted By: Stephen Leazzo

Posted February 4, 2022 / No comments

Footnotes appear at the end of a company’s audited financial statements. These disclosures provide insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed lending and investing decisions. Here are examples of key risk factors that you might unearth by reading between the lines in a company’s footnotes.

Read More

New tax reporting requirements for payment apps could affect you

Keith Orr

Posted By: Keith Orr

Posted February 3, 2022 / No comments

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but they could add to your recordkeeping burden, as well as the number of tax-related documents you

Read More

The 2021 gift tax return deadline is almost here, too

Robert Tighe

Posted By: Robert Tighe

Posted February 3, 2022 / No comments

April 18, 2022, is the deadline for filing your federal income tax return. Keep in mind that the gift tax return deadline is on the very same date. So, if you made large gifts to family members or heirs last year, it’s important to determine whether you’re required to file Form 709. Filing requirements Generally,

Read More

The Ins and Outs of IRAs

Cynthia Petschke

Posted By: Cynthia Petschke

Posted February 2, 2022 / No comments

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and your

Read More

2022 tax calendar

Keith Orr

Posted By: Keith Orr

Posted January 31, 2022 / No comments

To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for  January 31

Read More

Keeping meticulous records is the key to tax deductions and painless IRS audits

Timothy King

Posted By: Timothy King

Posted January 31, 2022 / No comments

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported

Read More

EBSA increases penalties for ERISA violations

Robert Tighe

Posted By: Robert Tighe

Posted January 28, 2022 / No comments

Any employer that sponsors a pension plan or a qualified retirement plan, such as a 401(k), is undoubtedly familiar with the Employee Retirement Income Security Act (ERISA). The law also applies to employer-sponsored health maintenance organization plans, Flexible Spending Accounts, and life and disability insurance. Established in 1974, ERISA holds plan fiduciaries responsible for their

Read More

The ABCs of activity-based costing

Cynthia Petschke

Posted By: Cynthia Petschke

Posted January 28, 2022 / No comments

Revenue and expenses, as reported on your company’s income statement, have limited usefulness to people inside the organization. Managers often need information presented in a different format in order to make operational and strategic decisions. That’s where activity-based costing comes into play. This costing system is commonly used in the manufacturing and construction sectors to

Read More