The home office deduction: Actual expenses vs. the simplified method
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction […]
D&O insurance: Some FAQs for nonprofits
Directors and officers (D&O) liability insurance enables board members to make decisions without fear that they’ll be personally responsible for any related litigation costs. Such coverage is common in the […]
Divide and conquer: How joint cost allocating works
In recent years watchdog groups, the media and others have increased their scrutiny of how much not-for-profits spend on programs vs. administration and fundraising. Your organization likely feels pressure to […]
Warning! 4 Signs your nonprofit is in financial danger
Signs of financial distress in a not-for-profit can be subtle. But board members have a responsibility to recognize them and do everything in their power to avert potential disaster. Pay […]
Fundamental tax truths for C corporations
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some […]
New logo. New vision. But the same team you’ve grown to trust and respect.
We are truly excited to announce a new day at Gilbert. We have adopted a new and creative logo to represent our firm moving forward. While we have always been […]
Tax reform expands availability of cash accounting
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater […]
What do the 2019 cost-of-living adjustments mean for you?
The IRS has announced its 2019 cost-of-living adjustments to tax items that might affect you. Many of the amounts increased to account for inflation, but some remained at 2018 levels. […]
REMINDER: Rules have changed for these 5 tax breaks
New tax legislation provides numerous tax benefits for individuals for 2018 through 2025. But not all the changes are likely to align with your go-to tax strategy from previous years. […]
Family businesses need succession plans, too
Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here […]