Articles From Lumsden McCormick
2026 Federal Tax Rate Guide
Posted by Cory Van Deusen V on February 09, 2026
Lumsden McCormick has released its annual Federal Tax Rate Guide.
Not All “Business” Expenses Are Tax Deductible
Posted by Alexander Intihar on February 03, 2026
As you look back to 2025 to determine what business expenses you can write off on your tax return, keep in mind the “ordinary and necessary” rule.
Internal Red Flags That May Indicate Shaky Nonprofit Health
Posted by Elizabeth Krause on February 02, 2026
While your nonprofit should monitor broader economic conditions to guard against potential external risks, don’t overlook these internal red flags that may signal deeper financial health concerns.
5 Smart Budgeting Tips for Manufacturers for the New Year
Posted by Amanda Mooney on January 30, 2026
Drafting an accurate budget can improve a manufacturer’s operational discipline and position the company to respond more effectively to market changes and unexpected challenges.
Are You and Your Spouse Considering Splitting Gifts?
Posted by Amanda Wojtkowski on January 27, 2026
Gift-splitting can be a valuable estate planning tool, allowing spouses to maximize the amount of wealth they can transfer tax-free.
Leverage Your Gift Tax Annual Exclusion Using a Crummey Trust
Posted by Robert Ingrasci on January 21, 2026
A Crummey trust provides a key tax benefit of an outright gift without some of the downsides. Gifts to the trust qualify for the gift tax annual exclusion, but unlike with an outright gift, you still determine, through the trust terms, how the assets will be managed and when they’ll ultimately be distributed to beneficiaries. Does a Crummey trust align with your broader financial and estate plan goals?
Uniform Guidance Audit Changes
Posted by Mary Young on January 19, 2026
In April 2024, the Office of Management and Budget (OMB) published significant updates to Title 2 of the Code of Federal Regulations (CFR), which included 2 CFR Part 200 (Uniform Guidance). The revisions are the most substantial update to the Uniform Guidance since its development in 2013, and will reduce the administrative burden on many nonprofit and governmental entities.
Is Your Business Ready for the Tax Deadline That’s on Groundhog Day This Year?
Posted by Emilie Wuerch on January 16, 2026
Businesses: Don’t cast a shadow over tax filing season by missing this important deadline.
How USPS Postmark Updates May Affect Mail Deadlines in 2026
Posted by Amanda Wojtkowski on January 15, 2026
Under the "Delivering for America" plan, the USPS has clarified that postmarks added to mail do not reflect a mailing date, they reflect a processing date. This has implications for the way time-sensitive mail, including tax return and tax payments, is received by federal agencies.
Reducing Manufacturing Waste to Enhance Profitability
Posted by Brian Stevens on December 16, 2025
Reducing waste in manufacturing improves efficiency, lowers costs, and strengthens profitability. Strategies like preventive maintenance, inventory management, and recycling help eliminate inefficiencies while boosting productivity and product quality. A commitment to continuous improvement ensures long-term operational excellence and competitiveness.