by Kelly Pollard and Lucas LaChance Nonprofit leaders have always been asked to do more with less. What feels different today is the pace and complexity of change. Many organizations are experiencing growing demand for services while navigating funding uncertainty, workforce pressures, technology disruption, and heightened expectations from donors, founders, and boards. These challenges […]
Hidden assets rarely remain hidden. In divorce proceedings, business disputes and fraud investigations, people’s spending habits often tell a different story from official reports, such as tax returns and legal declarations. Forensic accountants can use lifestyle analysis to identify such inconsistencies. Here’s how they trace unexplained funds and develop evidence to support litigation and financial […]
Wage and hour compliance can be tricky for employers. Under the Fair Labor Standards Act (FLSA), covered nonexempt employees generally must receive overtime pay at one-and-a-half times their regular rate for hours worked over 40 in a workweek. But certain executive, administrative and professional employees may be exempt if they satisfy applicable salary and duties […]
Whether you’re launching a new venture or expanding an existing one, it’s often easier to buy an established business than to build market share from scratch. Before signing a purchase agreement, however, you should review the seller’s financial records to understand what’s really driving the business’s profits and cash flow. Comprehensive due diligence doesn’t just […]
Strong portfolio performance can bring an unwelcome surprise: an additional 3.8% federal tax. The income thresholds for the net investment income tax (NIIT) aren’t annually adjusted for inflation and haven’t changed since the tax took effect in 2013. So the NIIT is hitting more taxpayers. If your income is near or above the applicable threshold, […]
Audit preparation should begin long before fieldwork starts. Giving your accounting team and external auditor time to address significant transactions, reconcile accounts and assemble supporting documents can help streamline the audit process and avoid financial-reporting delays. Communicate significant developments Internal and external changes may bring opportunities and risks that could affect your auditor’s procedures. Identify […]
If your estate plan includes gifts, bequests or other transfers to grandchildren, great-grandchildren or other beneficiaries decades younger than you, the generation-skipping transfer (GST) tax deserves careful attention. Without proper planning, transfers that skip a generation can potentially trigger a significant federal tax in addition to gift or estate taxes. GST tax rules at a […]
Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayers. If you may be affected, consider the AMT before implementing income or deduction timing strategies. A move that would reduce your 2026 regular tax might provide little or no benefit under the AMT — or could trigger […]
Health care costs remain a significant concern for many small and midsize employers that sponsor health insurance plans. And for good reason — one recent study by professional services firm Aon projected a 9.5% year-over-year increase in these costs in 2027. One way some organizations address the problem is by implementing a wellness program that […]
Many individuals invest in real estate to help diversify their portfolio, create an income stream for themselves from rental income and build net worth over time. Often, this is a side activity to a career in another field or running another type of business — not the individual’s primary source of income. Holdings might range […]
Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year […]
An important decision you must make when creating your estate plan is who’ll inherit your assets. While many of your beneficiaries are likely capable of managing an inheritance responsibly, others may be vulnerable to financial pressures, creditor claims, poor spending habits or other challenges that could erode the wealth you’ve worked hard to build. One […]