Archives

Jun
13
2019

Protect your nonprofit by cross-training staff

Cross-training employees can help protect your not-for-profit’s finances and operations. The process involves teaching staffers to do each other’s jobs so that critical functions aren’t interrupted when there are unplanned long- and short-term absences. An employee who’s temporarily filling in for someone else can also bring a new perspective to the position and may help deter occupational fraud. Staffers can benefit by gaining new skills and learning more about your organization. Just make sure they understand that cross-training doesn’t mean their jobs are in jeopardy.

Jun
11
2019

Paycheck Checkup

IRS continues campaign to encourage taxpayers to do a Paycheck Checkup; use Withholding Calculator to help get right amount for 2019 | Internal Revenue Service http://bit.ly/2X91o90

Jun
10
2019

The chances of IRS audit are down but you should still be prepared

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined compared with prior years. Overall, just 0.59% of individual tax returns were audited (down from 0.62% in 2017). This was the smallest number of audits conducted since 2002. However, even though a small percentage of returns are being chosen for audit these days, that will be little consolation if yours is one of them. The easiest way to survive an IRS audit is to prepare.

Jun
05
2019

Thinking about moving to another state in retirement? Don’t forget about taxes

If you’re thinking about relocating to another state in retirement, consider the impact of state and local taxes. It may seem like a state with no income tax is a smart choice, but you also have to factor in property and sales taxes, as well as any state estate tax. If you make a move to a new state and want to escape taxes in the state you came from, it’s important to establish legal domicile in the new location.