Nonprofits must carefully navigate the upcoming political season
Nonprofits must be careful about activities related to public policy issues, or risk losing tax-exempt status.
Seniors can deduct Medicare premiums
Taxpayers age 65 and older may deduct costs for “Medigap” and Medicare Advantage plans, along with other healthcare costs.
Taxpayers who are self-employed may still take home office deductions
The TCJA limited home office deductions to self-employed taxpayers. They are no longer available to employees whose employers allow them to work from home.
Can your nonprofit board recognize financial warning signs?
A key duty of your nonprofit’s board is to oversee the organization’s finances. Some warning signs may jump out immediately, but others can be more subtle.
Tax break for charitable gifts no longer benefits many taxpayers
The charitable giving deduction changed with the Tax Cuts and Jobs Act, and many taxpayers find that their generosity no longer results in a tax break.