A residuary clause in a will ensures that any assets not specifically mentioned—such as forgotten accounts or newly acquired property—are distributed according to your wishes. Without it, those assets may be subject to state intestacy laws, potentially leading to legal complications and family disputes.
Read MoreEmerging technologies like AI offer nonprofits powerful tools to improve efficiency, but they also introduce new cybersecurity risks. Engaging IT teams, tech-savvy board members, and expert advisors can help nonprofits strengthen controls while maximizing tech benefits.
Read MoreAs 2025 winds down, now is the time to review your business expenses and lock in potential tax savings. This article breaks down what’s still deductible under the latest tax laws, including updates from the One Big Beautiful Bill (OBBB) and the TCJA, and offers practical tips to help you plan ahead for 2026.
Read MoreNonprofit boards typically follow one of three models: policy, working, or hybrid. Policy boards focus on governance and strategic oversight, working boards handle hands-on tasks for early-stage organizations, and hybrid boards combine both approaches for flexibility during growth or transitions.
Read MoreQIP offers businesses a way to accelerate deductions on nonresidential building improvements through bonus depreciation and Section 179 expensing. Recent legislation under the OBBB permanently reinstates 100% bonus depreciation for qualifying assets placed in service after January 19, 2025, while also increasing Section 179 limits.
Read MoreA financial power of attorney ensures someone you trust can manage your finances if you become incapacitated, avoiding costly court proceedings. You can choose between a springing POA, which activates under specific conditions, or a durable POA, which takes effect immediately and allows for quicker action in emergencies.
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