2026 Federal Tax Rate Guide
Lumsden McCormick has released its annual Federal Tax Rate Guide.
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Not All “Business” Expenses Are Tax Deductible
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.
Read MoreInternal Red Flags That May Indicate Shaky Nonprofit Health
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.
Read More5 Smart Budgeting Tips for Manufacturers for the New Year
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.
Read MoreAre You and Your Spouse Considering Splitting Gifts?
Gift-splitting can be a valuable estate planning tool, allowing spouses to maximize the amount of wealth they can transfer tax-free.
Read MoreLeverage Your Gift Tax Annual Exclusion Using a Crummey Trust
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.
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