Monthly Archives: March 2019

4 Takes On Succession Planning-Part 1

By |2019-06-18T12:48:06-05:00March 27th, 2019|Advisory, Change, Internal Control, Morale, Preparation, Succession Planning|

You’ve worked hard to build your business, and it’s a big part of who you are. No matter how great the selling price, how capable your successor, or how excited you are for the next phase of your life, change is hard. Our friend, Rena Striegel, owner of Transition Point Business Advisors, is focused on [...]

Standard Deduction vs. Itemized Deduction for Charitable Contributions

By |2019-03-29T13:10:20-05:00March 20th, 2019|Accounting, Advisory, Deductions, Donation, Saving, Tax, Tax Reform|

The benefits of charitable contributions may be eliminated for some taxpayers. The Tax Cuts and Jobs Act (TCJA) doubled the standard deduction, meaning more taxpayers may find themselves in a better tax position by choosing the standard deduction over itemizing. Since charitable contributions are itemized, this is leaving many to wonder, “Will I still receive [...]

Can I Use My Endowment As Collateral?

By |2019-04-01T13:30:06-05:00March 13th, 2019|Assurance, Board, Budget, Cash Flow, Gifts, Nonprofit|

Organizations looking to expand their programs sometimes need to obtain bank financing for large projects such as the acquisition of a building. Depending upon the financing received, collateral is often a necessary piece of closing the deal. For organizations with large endowments, the question may come up as to whether the organization may use the [...]

Is That IRS Call Legitimate? 5 Tips for Catching Tax Season Scams

By |2019-03-29T13:10:05-05:00March 6th, 2019|Advisory, Fraud, IRS, IT, Tax, Tips|

Tax Day is just around the corner, which also means the peak of tax-related scams. The IRS annually compiles its list of the “Dirty Dozen,” or the worst tax scams. For the complete list visit IR-2019-49. Here are two common scams that often target taxpayers: Phishing – These types of schemes come in the form [...]