Beware of the “Reciprocal Trust” Doctrine
Having spouses’ trusts that are too similar isn’t simpatico with the IRS and may trigger unintended tax consequences.
Nonprofit organizations are deeply woven into the Western New York business and philanthropic community. Yet doing business as a nonprofit has become increasingly complex. New tax reform, complex regulations, growing competition, and shrinking resources can make the management of financial resources daunting for those leading our region’s many nonprofits.
Lumsden McCormick can help. Widely regarded as having the most extensive and diversified nonprofit base in Western New York, our partner-led nonprofit services team is uniquely qualified to help exempt businesses operate most effectively. You can count on our accessible certified public accountants to work collaboratively with your leadership team to minimize compliance risk as well as monitor industry developments. In addition to our unparalleled expertise, we can tap additional national and global resources on your behalf through our membership in the BDO Alliance USA.
Our nonprofit services include:
Every fall, Lumsden McCormick sponsors an Exempt Organizations Conference featuring local and national experts presenting on a variety of pertinent industry topics. Visit our Events page for more information; details to follow. Contact Maria Gambacorta with further questions.
Given the proposed tax rate increase to individuals, planning will be the key to mitigate financial stress. Your key takeaways from this one-hour discussion will include planning strategies that you can implement now.Learn More