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.
Read MoreIn April 2024, the Office of Management and Budget (OMB) published significant updates to Title 2 of the Code of Federal Regulations (CFR), which included 2 CFR Part 200 (Uniform Guidance). The revisions are the most substantial update to the Uniform Guidance since its development in 2013, and will reduce the administrative burden on many nonprofit and governmental entities.
Read MoreBusinesses: Don’t cast a shadow over tax filing season by missing this important deadline.
Read MoreHow USPS Postmark Updates May Affect Mail Deadlines in 2026 Posted by Amanda Wojtkowski on January 15, 2026 If you rely on postmarks for tax returns, payments, or other time-sensitive mail, you’ve likely learned that the U.S. Postal Service (USPS) clarified its procedures for dating mail.
Read MoreReducing waste in manufacturing improves efficiency, lowers costs, and strengthens profitability. Strategies like preventive maintenance, inventory management, and recycling help eliminate inefficiencies while boosting productivity and product quality.
Read MoreStarting in 2026, the One Big Beautiful Bill Act (OBBBA) introduces major changes to employer reporting requirements, including new W-2 codes for qualified tips and overtime income and contributions to Trump accounts. The law also raises the 1099 reporting threshold from $600 to $2,000, easing compliance for businesses.
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