Required Minimum Distribution

Required Minimum Distribution

Sadly, the money that we defer from taxes in our 401(k)s and IRAs during our working lives must eventually leave the shelter of the retirement umbrella whether we like it or not. What is a required minimum distribution? The discussion below is not relevant to...

Foreign Tax Implications for Individuals

By: Terri L. Marakos, CPA With the expansion of the global economy, the involvement of taxpayers in foreign activities has become commonplace.   Even not-so-sophisticated investors often hold the securities of companies with foreign activities and that pay foreign...
What Every Board Member Should Know About 501(c)(3)

What Every Board Member Should Know About 501(c)(3)

What it Means to be a Director of a Public Charity By: Donna Buzby, CPA What is a 501©(3) Organization? Being a 501(c)(3) organization means that the organization has been approved by the Internal Revenue Service as a tax-exempt, charitable organization. The IRS...
Quickbooks Tip of the Month: September

Quickbooks Tip of the Month: July

Make QuickBooks automatically re-enter transactions that occur repeatedly. The short cut to do this is to press “Ctrl+M” while you’re entering a transaction. You’ll get a “Memorized Transaction” tool that will allow you to specify the parameters in order for repeat...