Donor-Advised Fund: A Vehicle for Individual Giving
According to the 2017 Donor-Advised Fund Report created by the National Philanthropic Trust (NPT), individual giving accounted for $281.86 billion, or 72%, of all charitable [...]
Does My Pension Plan Need to be Audited?
The first step in determining if your pension plan might need to be audited is in understanding the concepts of large plans and small plans. A large plan is a plan with 100 or more participants on the first day of the plan year and a small plan has fewer than 100 participants. Why does this matter?
In the Employee Benefit Plans World, a Year Does Not Always Equal 12 Months
We all learned in kindergarten that one year equals 12 months. Pretty simple, right? Wrong. In the Employee Benefit Plans world, a year does not always equal [...]
Inexpensive Retirement Plan Options
Question: The employees have expressed an interest in a retirement plan. What are my inexpensive options to set up this type of benefit? Answer: If the [...]
To Itemize, or Not to Itemize: That Is The Question
The largest change to individual tax compliance resulting from the Tax Cuts and Jobs Act affects the calculation of various itemized deductions. Clients and friends have expressed confusion and even repeated some common misconceptions about the changes.
Why You Should Care About Virginia’s Conformity Date Change
Changes to tax law typically impact future returns, but the most recent one issued by the Virginia Department of Taxation will have some Virginians amending their 2017 state tax returns, too.