Executive Order 14247 requires the IRS to transition all tax-related payments and refunds to electronic methods starting September 30, 2025, eliminating paper checks except in limited cases. Taxpayers will need to use direct deposit, prepaid debit cards, or digital platforms for refunds and make payments through approved electronic systems, with support available for those lacking access to traditional banking.
Read MoreCustodial accounts offer a flexible way for adults to manage investments on behalf of minors, allowing the assets to legally belong to the child while controlled by a custodian until adulthood. These accounts support various asset types and provide tax benefits but come with considerations regarding control and financial aid impact.
Read MoreA well-planned nonprofit board retreat starts with a meaningful topic. This article explores how choosing a central theme such as risk management, financial reporting, or donor engagement can lead to focused discussions and actionable outcomes that strengthen your organization’s strategy.
Read MoreFamily business owners benefit from having both an estate plan and a succession plan to ensure a smooth transition of assets and leadership. These strategies help preserve wealth, minimize taxes, and reduce potential conflicts among heirs, while supporting the financial needs of both generations.
Read MoreClear, consistent communication about financial realities helps nonprofit leaders maintain staff trust and morale during uncertain times. By proactively addressing concerns, especially around layoffs, and fostering a culture of transparency, executive directors can prevent damaging rumors and keep their teams focused on the mission.
Read MoreThis presentation by Lumsden McCormick, One Big, Beautiful Bill Webinar, covered key tax changes for businesses, individuals, and international taxpayers under the OBBB.
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