Panel Discussion Recap: From Policy to Planning: What the Latest One Big Beautiful Bill Changes Mean
This panel discussion was held on September 25, 2025, with experts from Lumsden McCormick and Bond, Schoeneck & King.
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The Purpose of an Irrevocable Life Insurance Trust
An Irrevocable Life Insurance Trust (ILIT) can help keep life insurance proceeds out of your taxable estate, reducing potential estate tax liability. By transferring ownership of a policy to an ILIT or having the trust purchase a new policy, you ensure the death benefit passes tax-free to beneficiaries.
Read MoreAdd Giving Tuesday to Your Fundraising Efforts
Giving Tuesday is a global movement that inspires generosity during the holiday season, encouraging nonprofits, businesses, and individuals to give back through donations, advocacy, and volunteerism. It offers organizations a powerful opportunity to raise funds, build awareness, and engage their communities.
Read MoreTax Court Decision Offers Insights into Strong Recordkeeping Policies
Strong recordkeeping is essential for business success, helping ensure accurate financial reporting, compliance, and the ability to defend tax deductions. A recent tax court case highlights how poor documentation can lead to denied deductions and penalties, underscoring the need for practices like separating business and personal finances, maintaining contemporaneous records, and using reliable accounting systems.
Read MoreAn Estate Planning Strategy for Intrafamily Loans
Intrafamily loans can be a flexible way to transfer wealth, support major purchases, and preserve family assets while offering tax advantages—when structured correctly. To avoid IRS reclassification as a gift, these loans must follow strict formalities, including charging interest at the applicable federal rate and documenting repayment terms.
Read MoreWhat You Need to Know About Nonprofit Loans and Borrowing
Borrowing can help nonprofits fund major projects or manage cash flow gaps, but it comes with higher interest rates, strict lender requirements, and added risk. Understanding loan types—such as lines of credit, bridge loans, and long-term financing—and preparing detailed financial documentation are essential steps before applying.
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