The Tax Rules For Lottery, Gambling, & Prize Winnings
Whether it’s a lottery prize, gambling winnings, or other awards, it’s easy to focus on the excitement of a big win. However, federal tax law generally treats these things as
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Audit Committees & Fraud Prevention: Key Oversight Responsibilities
Effective fraud prevention begins at the top with the board of directors. Engaged audit committees or advisory boards help to protect your organization form the risk of internal and external
Small Business Tax Issues: FAQs Regarding IRS Notices, Back Taxes, & Payroll
For even the most organized small business owners, tax problems can still occur. These small business tax issues can be stressful, especially when penalties and interests begin to add up.
Improving Profit Margins Through Smarter Expense Reviews
Strengthening financial performance can be achieved in other ways beyond increasing revenue. One option is taking a closer look at operating expenses and determining if each dollar spent delivers value.
Strategies for Controlling Unemployment Tax & Claims Costs
Unemployment taxes, whether federal or state, can easily be regarded as fixed costs. However, you may be able to control these costs and other claims more than you may think.
IRS Guidance Clarifies Gift Tax Rules For Section 530A Accounts
As of July 4, 2026, Section 530A accounts, also known as “Trump accounts,” are available for contributions. These accounts are custodial, tax advantaged accounts opened by a parent or guardian
Non-Profit Mergers Planning: Financial, HR, & Governance Considerations
Non-profit mergers can provide organizations with many benefits. However, this is only successful when organizations complete their due diligence and work through the process with clear goals. Take a look
Stress Testing for Business Risk Management
Business owners face no shortage of uncertainty, and planning is challenging due to factors like persistent inflation, evolving trade policies, cybersecurity threats, and ongoing geopolitical tensions. While it’s impossible to
Midyear Tax Planning Tips For Individuals & Families
Summer is a good time to review whether your income, deductions, and investment activities are lining up as expected and determine if you qualify for these tax saving opportunities. Your
Cash vs. Accrual Accounting Methods for Small Businesses
An important consideration for small business owners is whether to use the cash or accrual accounting methods for federal income tax purposes. For larger entities, the accrual method is required.