Innovate or acquire? That’s the strategic question
Many companies reach a point in their development where they have to make an important decision: Innovate themselves or acquire a competitor?
Read MoreTime may be running out — again — for tax-free treatment of home mortgage debt forgiveness
Income tax generally applies to all forms of income, including cancellation-of-debt (COD) income.
Read MoreDocumentation is the key to business expense deductions
If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions.
Read MoreBusiness or Hobby Income?
It’s important to distinguish between what is considered a hobby activity and what is considered a business activity for your tax return.
Read MoreVacation home should keep families together, not tear them apart
A shared family vacation home can be a great place for family bonding.
Read MoreHow to make your nonprofit's special event a financial success
Many not-for-profits depend on funds raised at an annual gala or other special event to keep their organization in the black.
Read MoreClimbing the “hierarchy of needs” to find employee engagement
In 1943, psychologist Abraham Maslow set out his “hierarchy of needs.” This theory suggested that human behavior is a response to a variety of need
Read MoreTax impact of investor vs. trader status
If you invest, whether you’re considered an investor or a trader can have a significant impact on your tax bill. Do you know the difference?
The IRS can reclassify S corporation distributions as wages
If you run your business as an S corporation, you’re probably both a shareholder and an employee.
Read MoreAre frequent flyer miles ever taxable?
If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might
Read MoreGiving real estate to charity is rewarding, but beware of tax traps
Did you know that the estate of director John Hughes donated the family’s Illinois mansion to a nonprofit hospital?
Read MoreUse cause marketing to boost your nonprofit’s profile
Although corporations and not-for-profits have been teaming up for decades, “cause marketing” partnerships have recently gained new popularity.
