Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of the complex rules that apply to determine the tax treatment of the expenses of buying, leasing or developing computer software. […]
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Should you reach out to “effective altruists?”
Effective altruism is commonly described as a philosophy that uses evidence and reasoning to determine the most effective ways to benefit others. Not all donors are aware of effective altruism, but the concept is growing in popularity. To determine whether your not-for-profit should try to reach out to its adherents, learn a little more about […]
Why it’s important to plan for income taxes as part of your estate plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted […]
Gifts in kind: New reporting requirements for nonprofits
On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are the details. Need for change Gifts in kind can play an important role in ensuring a charity functions effectively. They may […]
Captive insurance shouldn’t keep you up at night
Is It Time for a Cost Segregation Study? & Beware of “Wash Sales” When Selling Securities
Is it time for a cost segregation study? Because of the economic impact of the COVID-19 crisis, many companies may want to conserve cash and not buy much equipment this year. As a result, you may not be able to claim as many depreciation tax deductions as in the past. However, if your company owns […]
