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A nonworking spouse can still have an IRA

24 June 2020
A nonworking spouse can still have an IRA

In general, an IRA contribution is allowed only if a taxpayer has compensation. However, an exception involves a “spousal” IRA. It allows a contribution to be made for a nonworking spouse.


There’s still time to make a deductible IRA contribution for 2019

23 June 2020
There’s still time to make a deductible IRA contribution for 2019

You can still make a deductible traditional IRA contribution for the 2019 tax year between now and the extended tax filing deadline and claim the write-off on your 2019 return.


IRS releases 2021 amounts for Health Savings Accounts

18 June 2020
IRS releases 2021 amounts for Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs).


To survive the current crisis, your nonprofit needs multiple revenue sources

17 June 2020
To survive the current crisis, your nonprofit needs multiple revenue sources

One of the strongest predictors of a not-for-profit’s long-term survival is multiple revenue streams.


5 steps to streamline the month-end close

16 June 2020
5 steps to streamline the month-end close

Many companies struggle to close the books at the end of the month. Fortunately, there are five simple ways to make your monthly closing process more efficient.