Investment Policy Statements dictate how a nonprofit’s investment program operates. How is performance measured? Learning how to benchmark and measure success and organize the investment committee helps to ensure investment committee members satisfy their fiduciary duties.
Although not a permanent solution, ARPA includes important relief for eligible multiemployer pension plans and provides plan sponsors with an opportunity to return to a state of solvency that may not have been possible otherwise.
Every not-for-profit manages funds, but not every organization has an established and well-documented Investment Policy Statement. Learn how the investment committee can review the IPS and safeguard against unnecessary investment risk.
For many years, beneficiaries of inherited IRAs were permitted to withdraw the balances over their life expectancies. Then, the SECURE Act largely eliminated this tax deferral opportunity. Its effective date of December 31, 2019 could be called “The Day the Stretch IRA Died”.
Hacking and ransomware have the potential to create havoc for the assets and sensitive data housed in benefit plans across the country. As a result, in 2021, the DOL scaled up its interest in how administrators are addressing and responding to cybersecurity risks.
When inflation is high, certain companies could use it as an opportunity to save on taxes. Electing LIFO for the 2021 tax year might be a smart move, but time is running out. It’s also not too early to begin evaluating LIFO calculations for 2022.
It’s been more than 100 years since the first Form 1040 was introduced. Fast forward to 2022 and this tax season is on track to be the worst ever. So, why is the agency so far off its game and what are the potential solutions?
For the first year, some S-corporation shareholders will be required to include Form 7203 with their individual or trust tax returns. With shareholder basis continuing to be a major IRS audit focus, shareholders need to make sure they are consistently tracking their basis on Form 7203 with all the required annual adjustments.
Buckle up. Filing your 2021 taxes might be a bumpy ride. That’s why we’ve compiled information and tips to help you navigate the journey and maintain your sanity through it all this year.
Many organizations may not be aware they’re subject to a single audit. It can help to look at similar scenarios to determine compliance requirements when accepting funds greater than $750,000.
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