Lumsden McCormick Firm News

Our May Exempt Organizations Newsletter covers if your nonprofit is ready to hire a CFO, how you can tap into emerging corporate volunteering trends, and how to set realistic planning and fundraising goals now that some events are going back to in person.

Our May commercial business newsletter covers how to evaluate and improve controls with an internal audit team, what tax factors to consider when selling business property, how to maximize the tax benefits of tranactions costs, and more.

Our April 2022 Exempt Organizations Newsletter covers what nonprofits need to know: employee or contractor, checklist to engage donors, corporate volunteers, and conflict of interest.

Our April Personal Tax and Estate Planning newsletter covers new federal legislation including SECURE 2.0, the new retirement act, and the 2023 proposed federal budget, plus more including selling mutual funds, vacation property rentals, fiduciary duties, and beneficiary designations.

Our April commercial business newsletter focuses on updated federal guidance including the proposed 2023 federal budget and the new retirement legislation, SECURE 2.0: Securing a Strong Retirement Act. We also share the 2Q Tax Calendar, reasons to accelerate income and defer deductions, and we discuss inflation.

Our March Personal Tax and Estate Planning newsletter covers tax planning and gift planning including subject matter to include IRA contributions, revised tax limits, avoid probate, and gifting assets.

Our March 2022 Exempt Organizations Newsletter provides an update to the Employee Retention Credit, covers your annual audit in two articles: Prepare for an Audit and Financial Red Flags, and provides four steps to strategic planning.

Our March commercial business newsletter focuses on taxes. We provide more technical resources related to the Employee Retention Credit (ERC) and Pass-Through Entity Tax (PTET), new guidance on Schedules K-2 and K-3, and watch our Federal Tax Rate video.

View our webinar discussing the tax policy aspects of New York’s Pass-Through Entity Tax (PTET) including the benefits, planning strategies, and how to make the election.

This month’s personal tax and estate planning newsletter covers 2022 tax payment schedule, rules for itemized charitable deductions, and has a focus on estate planning.