BLS Insights

Although Congress incentivizes individuals to save for retirement by allowing various tax-free savings vehicles, they do eventually require taxpayers to dig into their nest eggs. When taxpayers reach age 70 … Continued

In October of 2019 the IRS Tax Exempt & Government Entities (TE/GE) division issued its Fiscal Year 2020 Program Letter. The Program Letter discusses the TE/GE’s priorities and key areas … Continued

In a world of constantly changing donor demographics, nonprofit organizations need to be innovative when it comes to fundraising. According to a research study done by the Pew Research Center, … Continued

For S-Corporation owners, complex regulatory environments and constantly changing tax laws make deciding upon the correct method and amount to pay yourself a burdensome endeavor. S-Corporation owners have an incentive … Continued

Managing a nonprofit organization can be a challenging task. It takes passion and drive to create, refine, and implement programs that serve the community or members. Whether it’s a trade … Continued

Due to increased enforcement and related assessment of penalties for failing to timely and accurately file Forms 1099, we felt it was important to share the following requirement and due … Continued

Posted by Jordon N. Rosen, CPA, AEP In the aftermath of the Tax Cuts and Jobs Act (TCJA), many taxpayers who used to be able to itemize deductions prior to … Continued

Of the many decisions that a nonprofit organization needs to make, setting standards for board-member size may not be at the top of the priority list; yet this decision is … Continued

Prior to 2018, taxpayers could take a deduction for personal casualty losses experienced during the tax year.

The marriage tax penalty or benefit occurs from a change in a couple’s tax liability as a result of marriage and subsequently filing jointly. The marriage tax penalty results when … Continued