Preparing for a nonprofit audit in 2025 involves understanding new standards, economic impacts, and adopting best practices for compliance and transparency.

Navigating the complexities of standard mileage rates for different purposes can be challenging. Here is an overview of the 2025 rates for business, charity, medical and military moves.

The Corporate Transparency Act, designed to prevent financial crimes, is back in effect after the lifting of an injunction. This article outlines recent developments and provides updated deadlines for Beneficial Ownership Reporting to help businesses stay compliant.

A federal court has temporarily halted the enforcement of beneficial ownership information (BOI) reporting requirements. While businesses can still voluntarily submit BOI reports, they will not be liable for non-compliance during this period. It's recommended to stay informed, as the legal landscape is continually evolving.

Don't let cybercriminals ruin your holiday season. Here's some advice on safeguarding your personal information during the busiest online shopping period of the year.

Significant changes to the IRS's 1099-K reporting thresholds are on the horizon, affecting anyone who uses payment apps or online marketplaces. Starting in 2024, more of your transactions could be reported to the IRS, potentially impacting your tax obligations. Find out what these updates mean for you and how to navigate the new requirements.

Learn about President-elect Trump's proposed tax changes and how they could affect your financial strategy. This nonpartisan article discusses the potential impacts of extending and expanding the Tax Cuts and Jobs Act of 2017, among other proposed changes. Stay informed about potential tax changes and learn how to prepare for them.

As year-end approaches, small business owners face crucial tax planning decisions that can impact their financial health. From leveraging deductions and managing cash flow to understanding the intricacies of the QBI deduction, this article offers strategic insights to optimize your tax position before ringing in the new year.

The Treasury and IRS issued final regulations for the Advanced Manufacturing Production Credit, providing guidelines for eligible components and production activities.

The IRS has announced an increase in the 401(k) contribution limit for 2025 to $23,500, up from $23,000 in 2024. However, the annual contribution limit for an IRA remains unchanged at $7,000. The catch-up contribution limit for employees aged 50 and over also remains at $7,500 for 2025.

The Minnesota DLI's Labor Standards Division is providing a series of webinars to educate workers and employers about the state's wage and hour laws, including topics like minimum wage, overtime requirements, child labor laws, and more.

As the year-end approaches, it's time to for strategic tax planning. From assessing your current tax situation and understanding deductions to maximizing retirement contributions and managing investment gains, this guide offers valuable insights to help minimize your tax burden.

The United States is grappling with an escalating national debt that now exceeds $35 trillion, a staggering burden with far-reaching economic implications. Explore the causes, current state, and potential solutions to this pressing issue, and understand what it means for our future. Read on to discover how it affects us all and what steps can be taken to steer toward a sustainable fiscal path.

The IRS has announced significant inflation adjustments for the 2025 tax year, impacting standard deductions, income tax brackets, and various tax credits. These changes offer potential tax savings for individuals and businesses, making proactive tax planning more important than ever. Discover how the updates could affect your tax strategy and financial future.

Think you can spot misleading tax advice online? You might be surprised. Discover how even savvy individuals can fall prey to dubious claims and learn the red flags to watch out for.