Launching a capital campaign may seem daunting due to widespread myths, but your nonprofit can succeed with the right strategy. This article dispels common misconceptions and offers practical advice on leading a successful campaign, from securing early lead gifts to crafting a compelling message. Learn how your organization can make a significant impact with a well-executed fundraising effort. Read the full article to discover more.
With the rise in corporate litigation, Directors & Officers (D&O) liability insurance has become essential for protecting executives from personal liability. This article explores the importance of D&O insurance, its role in mitigating risk, and how it can serve as a recruitment tool. Learn about the key policy considerations and the need for periodic reviews to ensure your coverage remains up-to-date with your company’s changing needs. Read the full article for an in-depth overview.
Self-auditing your retirement plan is a proactive step to ensure compliance and avoid federal scrutiny. This article highlights six common faults found by the IRS and the Department of Labor, such as late deposits, ERISA violations, and improper account management. By addressing these issues, companies can protect their retirement savings and maintain regulatory compliance. Read the full article to learn more about safeguarding your retirement plan.
The alternative minimum tax (AMT) continues to affect taxpayers, even with recent changes under the Tax Cuts and Jobs Act (TCJA). This article details the fundamentals of AMT, highlights risk factors like in-the-money stock options and private activity bond interest, and offers practical strategies to reduce your AMT exposure. Discover how to optimize your tax planning and take advantage of available credits to minimize the impact of AMT on your finances.
Women are making significant strides in financial control, yet challenges remain. This article explores eight essential financial steps for women to secure their financial future. From establishing personal credit and managing debt to planning for retirement and creating a lasting legacy, these tips offer practical guidance for enhancing financial independence. Read the full article to learn how to take charge of your finances and achieve long-term stability.
Protecting your employees’ confidential information is vital to prevent data breaches and identity theft. This article outlines practical steps for safeguarding sensitive data, including developing an information retention policy, restricting access, and upgrading cybersecurity measures. Stay ahead of potential threats by following these guidelines to ensure the safety and privacy of your workforce. Read the full article for detailed strategies.
Creating an estate plan is crucial for managing your assets and ensuring your wishes are honored. This article provides a comprehensive guide to drafting a will, choosing an executor, assigning a power of attorney, and setting up health care directives. It also offers insights into tax-advantaged gifts and the use of trusts to achieve various objectives. Learn how to cross estate planning off your to-do list and secure your legacy effectively. Read the full article for detailed guidance.
If you’re eyeing a new home but are constrained by liquidity tied up in your current property, a 401(k) loan combined with mortgage recasting might be the solution. By borrowing from your 401(k) to cover the down payment and managing two mortgages temporarily, you can streamline your transition to a new home. Once your old home is sold, use the sale proceeds to pay off the 401(k) loan and recast your new mortgage for a lower monthly payment. This strategy can be effective, but it requires careful planning and understanding of both recasting and refinancing options.
Selling a highly appreciated home can lead to significant tax implications, but understanding how to compute your tax basis can help mitigate these. This article explores the federal income tax gain exclusion for principal residences, the necessary ownership and use tests, and how to adjust your tax basis with eligible costs and improvements. It also covers the handling of energy-efficient expenditures and seller-paid closing costs. Ensure you keep detailed records to support your calculations and consult your tax advisor for personalized guidance. Read the full article for comprehensive strategies.
Selling your home in a high-market environment could lead to significant gains, but understanding the tax implications is crucial. This article explores how to maximize the federal income tax gain exclusion, detailing the ownership and use tests, special considerations for married couples and surviving spouses, and the anti-recycling rule. Learn about the option to elect out of the gain exclusion, the prorated gain exclusion for premature sales, and how taxes on gains exceeding the exclusion are calculated. Read the full article for comprehensive insights and strategies.