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Teachers and Others Can Deduct Eligible Educator Expenses This Year — and More Next Year and Beyond
At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in many cases, they don’t receive reimbursement.
A Family Business Owner Needs Both an Estate Plan and a Succession Plan
For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly. Your estate plan can help ensure that your assets are distributed according to your wishes and provide contingencies in the event of your death or disability
How to Keep Cost Cutting From Increasing Fraud Risk
In the process of slashing expenses? Just be careful not to cut essential items, such as sufficient staffing to maintain strong internal controls, from your not-for-profit’s budget. Internal controls are critical for preventing occupational theft. Cybersecurity is something else your organization can’t afford to do without. The good news is
Investing in Qualified Small Business Stock Now Offers Expanded Tax Benefits
By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified small business (QSB) stock now offers more
Should You Accept the Task of Serving as an Executor?
Make no mistake, serving as an executor (or a “personal representative” in some states) is an honor. But the title also includes significant responsibilities. So if a family member or a close friend asks you to be the executor of his or her estate, think about your answer before agreeing
Key Metrics to Assess the Health of Your Cash Flow
For many businesses, accounts receivable (AR) is one of the largest assets on the balance sheet. It represents the cash you’ve earned but haven’t yet collected. Efficient AR management is critical for maintaining healthy cash flow, reducing bad debt and fueling growth. But a key question often goes unasked: How
Accounting Mistakes Nonprofits Should Try to Prevent
It may be tempting to try to save money and perform your nonprofit’s accounting tasks internally. But if your staff isn’t experienced and properly trained, mistakes are likely to occur — with potentially serious repercussions. Some accounting mistakes are common among newer nonprofits and smaller organizations that attempt to go
Switch to an S Corp to Lower Your Self-Employment Tax Bill
If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. Self-Employment Tax Basics Sole proprietorship income, as well as partnership income that flows through to partners (except
Understand How POD and TOD Accounts Affect Your Estate Planning
Payable-on-death (POD) and transfer-on-death (TOD) accounts are attractive estate planning tools because they allow assets to pass directly to named beneficiaries without going through probate. This can save time, reduce administrative costs and provide your beneficiaries with quicker access to their inheritance. However, there are drawbacks to using these accounts.
5 Ways Businesses Can Assess Health Care Benefits Spending
If your business sponsors health care benefits for its employees, you know the costs of doing so are hardly stable. And unfortunately, the numbers tend to rise much more often than they fall. According to global consultancy Mercer’s Survey on Health & Benefit Strategies for 2026, 51% of large organizations surveyed