Entrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized over time.
Small business owners: Can you name the key differences between prepared and compiled financial statements?
Most nonprofits prefer unrestricted gifts, but you probably don’t want to say “no” to donations that come with a few strings. Just make sure you handle restricted gifts with care. Here’s how.
April 18 isn’t only the income tax return deadline. It’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2021 gift tax return this April. (Note: you may want to file one anyway).
To help ensure financial security in retirement, saving now on a tax-favored basis is a smart move. And if you qualify, you still have time to contribute to an IRA or SEP and save on your 2021 tax return.
