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Nonprofit boards must remain vigilant as long as the crisis continues

01 February 2021
Nonprofit boards must remain vigilant as long as the crisis continues

As long as the pandemic continues, nonprofit boards must be on their toes. Budgets and financial statements, in particular, may alert your board to impending trouble. Here’s what members should look for.


Do you want to withdraw cash from your closely held corporation at a low tax cost?

29 January 2021
Do you want to withdraw cash from your closely held corporation at a low tax cost?

Are you the owner of a closely held corporation and want to take cash out? For tax purposes, you probably want to avoid a dividend distribution. Here are some alternatives.


The importance of S corporation basis and distribution elections

28 January 2021
The importance of S corporation basis and distribution elections

Do you operate your business as an S corporation? Be aware that several elections are available to an S corp. or its shareholders that can affect the basis adjustments caused by distributions and other events.


New business? It’s a good time to start a retirement plan

27 January 2021
New business? It’s a good time to start a retirement plan

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages.


Taking distributions from a traditional IRA

26 January 2021
Taking distributions from a traditional IRA

It may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.