Blog Archives

  1. Non-Profits and the Rules of Business

    Forming a non-profit is often a noble exercise which, if done properly, can be used as a vehicle to help people and improve society in many ways. However, the founders must be realistic with their expectations and understand that, in many ways, the experience comes with most of the problems and risks commonly associated with a small business start-up (and some additional risks and restrictions).

  2. Non-Profit Accounting and Tax

    I am pleased to announce that I will be speaking at the Washington Association of Accountants on September 25th in Tacoma at the Non-Profit Accounting and Tax mini-seminar.  If you would like more information about this seminar, please follow this link. I have posted below an outline of my presentation.  If you are interested in…

  3. IRS Audit Rates

    It looks like there is a downside to being wealthy: tax audits.  The more you make, the more likely it is that you are going to be subject to and IRS audit.  The reality is, though, that for most of us, the audit rate is very, very low.  According to CNN Money, the wealthiest taxpayers…

  4. Federal Estate Tax Update

    I am glad to finally hear rumors that the federal estate tax will be dealt with this year by Congress.  Back in 2001, Congress passed a law that increased the federal estate tax exemption from $1 million per person up to $3.5 million per person by 2009 and then ended the estate tax for 2010. …

  5. Importance of Planning

    Planning for the possibility of incapacity and the certainty of passing away is an uncomfortable topic for most people. However, failure to plan for these events can sometimes lead to unintended financial outcomes, family tension and many other negative and sometimes heartbreaking consequences. While the strategies may vary, estate planning is important for everyone no matter the size or complexity of the estate.

  6. Banks and Powers of Attorney

    You cannot just look to the law for limitations on powers of attorney. A power of attorney only works if the third party to whom it is presented is willing to accept it.

  7. Business Continuity Planning

    All businesses (and individuals as well) should at least be thinking about business continuity and disaster recovery issues. It is always better to confront these kinds of problems before they become real rather than to figure it out after the fact.