Local government leaders across the country are consistently tasked with finding ways to stretch shrinking budgets and dwindling staff. Here are just a few of the benefits Lumsden McCormick can offer government entities looking to maximize resources.
Read MoreWith the passing of the One Big Beautiful Bill Act (OBBB), a number of the tax incentives created or strengthened by the Inflation Reduction Act (IRA) of 2022 have been repealed. Learn about the credits that will be expiring early under the new tax legislation and consider taking advantage of them before the window to do so closes.
Read MoreA quiet trust, also known as a silent trust, is an estate planning tool that keeps beneficiaries unaware of the trust’s existence until a specified age or milestone. While it can preserve motivation and protect heirs from external pressures, it may also lead to missed opportunities or resentment.
Read MoreCreating an effective nonprofit budget requires more than adjusting last year’s numbers. A collaborative approach, accurate forecasting, and scenario planning can help organizations stay agile and prepared for uncertainty.
Read MoreThe One Big Beautiful Bill makes the Section 199A qualified business income (QBI) deduction permanent and expands income phase-in ranges starting in 2026, allowing many service-oriented businesses to claim larger deductions. It also introduces a minimum QBI deduction for eligible taxpayers and adjusts thresholds for inflation.
Read MoreOwning a business with your spouse can be rewarding, but it also brings unique tax challenges that can impact your bottom line. From self-employment tax surprises to IRS partnership rules, understanding your options like electing joint venture status, forming an S corporation, or restructuring roles can help you minimize taxes and simplify compliance.
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