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6 Benefits of Keeping Real Estate Separate from Your Business Assets
Separating real estate from your business assets can offer significant advantages, including avoiding double taxation, limiting legal liability, and easing sales or transfers. This article explores the mechanics behind separating real estate, the potential benefits, and considerations to keep in mind. Read the full article for more insights and guidance on how to implement these strategies effectively.
Keep Your Asset Transfers Safe: Avoid IRS Gift Tax Challenges
Transferring assets to loved ones can be complex and risky without proper documentation and disclosure. This article outlines the IRS’s three-year statute of limitations, the need for adequate disclosure, and what to include on a gift tax return. Learn how to protect your estate plan from IRS challenges and potential litigation by following these guidelines. Read the full article for detailed strategies.
Changes in Retirement Savings for 2025: A Comprehensive Guide
The IRS has released new retirement plan limits for 2025, with adjustments due to inflation. This article covers the updated contribution limits for 401(k)s, 403(b)s, traditional and Roth IRAs, as well as changes to the Social Security earnings test. Understand how these changes affect your retirement planning and make informed decisions to maximize your savings. Read the full article for detailed information.
Avoid Costly Mistakes: Why Social Media Isn’t Reliable for Tax Tips
Social media is not a reliable source for tax advice. The IRS warns about scams and misinformation circulating on platforms like Facebook, TikTok, Instagram, and X. This article addresses common myths, such as self-employment tax credits and misuse of tax forms. It’s essential to consult a trusted tax professional before filing any claims. Protect yourself from costly penalties and fees—read the full article for details.
3 IRA Options for Your Business: Which One Is Best?
Weighing retirement plan options can be daunting, especially when it comes to IRAs. This article breaks down the differences between SIMPLE-IRAs, SEPs, and Payroll Deduction IRAs, helping you choose the best fit for your business. Learn about contribution limits, tax implications, and who each plan benefits most. Don’t miss out on making an informed decision that suits your business and employees. Read the full article for detailed guidance.
Navigating Real Estate Investments with Your IRA: What You Need to Know
Investing IRA funds in real estate can be an effective strategy for retirement savings diversification, but it comes with specific rules and considerations. This article explores how to use a self-directed IRA to invest in real estate, the management requirements, and the tax implications involved. Learn how to navigate these aspects to build a robust real estate investment strategy within your retirement plan. Read the full article for detailed insights.
Maximize Your Tax Benefits: Support a Dependent Parent and Save
If you're financially supporting a parent, you might be eligible for key tax breaks, including a $500 tax credit, head of household filing status, and deductions for medical expenses. This article outlines the requirements, explains how you can qualify, and provides tips on maximizing these benefits. Whether you're paying for basic living costs or medical expenses, learn how to leverage these tax advantages to save money.
Updated U.S. GAAP vs. IFRS guide
RSM's updated guide includes additional U.S. GAAP to IFRS differences that we have seen become more prevalent in practice.
Updated business combinations guide
RSM's newly revised guide to accounting for business combinations can help practitioners understand and apply the guidance.
New derivatives and hedge accounting guide
RSM's new guide provides a comprehensive overview of derivatives and hedge accounting and incorporates recently issued guidance.
Expected new reporting requirements for the Research Credit on Form 6765
The IRS has released a new draft Form 6765, Credit for Increasing Research Activities, that would require taxpayers to report additional pertinent information in order to claim the Research Credit on future tax returns.
Summary of Accounting Standards Update (ASU) 2024-04
A FASB ASU clarified the requirements for accounting for a settlement of a convertible debt instrument as an induced conversion.
Flexible Spending Accounts: Maximize Tax Savings and Employee Satisfaction with FSAs
Offering Flexible Spending Accounts (FSAs) can provide substantial tax savings for nonprofits while enhancing employee satisfaction. FSAs reduce taxable income, offer health and dependent care coverage, and help recruit and retain valuable staff. With options like grace periods and fund carryovers, these plans can meet diverse employee needs. Learn how FSAs can benefit your organization and employees alike in the full article.
Out With the Old: How Nonprofits Can Optimize Their Programs in 2025
In a time of tightening budgets, nonprofits must prioritize programs that deliver the greatest impact. This article outlines how to evaluate your organization's initiatives using stakeholder feedback and data-driven metrics. Discover practical strategies for phasing out ineffective programs, reallocating resources to promising efforts, and aligning your operations with evolving community needs. Read the full article to learn how to enhance your nonprofit’s efficiency and effectiveness.
Safeguard Your Nonprofit from Holiday Scams and Fraud
The holiday giving season is critical for nonprofit fundraising but also a time of increased fraud risk. This article highlights key vulnerabilities, including cash theft during events, internal control lapses, and gift card fraud, offering actionable advice to protect your organization. Stay vigilant this holiday season to safeguard your mission and maintain the festive spirit. Read the full article for detailed tips and strategies.