Employees are critical to your nonprofit’s cybersecurity. If they aren’t knowledgeable about social engineering schemes or safe browsing, they could open the door to hackers. Teach them how phishing, “vishing” and “smishing” scams work, and how to evade them. Also discourage mixing of personal and work accounts. Staffers shouldn’t access your nonprofit’s accounts on their
Victor Dozzi
May 30, 2023
How to train your nonprofit’s employees to combat hackers
- By Victor Dozzi
- Non-Profit
- 0 Comments
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May 24, 2023
Keep thieves from stealing from your nonprofit youth sports league
- By Victor Dozzi
- Non-Profit
- 0 Comments
A few years ago, the popular and well-compensated executive director of a west coast youth soccer league was accused of fraud. After scrutinizing the club’s books, the league’s board of directors couldn’t account for $80,000. Criminal charges were eventually dropped, but many similar cases have concluded in embezzlement findings and significant losses. According to The Washington
May 4, 2023
Have you planned for long-term health care expenses?
- By Victor Dozzi
- Estate
- 0 Comments
No matter how diligently you prepare, your estate plan can quickly be derailed if you or a loved one requires long-term home health care or an extended stay at an assisted living facility or nursing home. Long-term care (LTC) expenses aren’t covered by traditional health insurance policies or Medicare. So it’s important to have a
Mar 21, 2023
Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances
- By Victor Dozzi
- Taxes
- 0 Comments
You generally must pay federal tax on all income you receive but there are some exceptions. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and in a lump sum or
Jan 3, 2023
The standard business mileage rate is going up in 2023
- By Victor Dozzi
- Business
- 0 Comments
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The IRS recently announced that the 2023 cents-per-mile rate for the business use of a car,
Dec 27, 2022
Save for retirement by getting the most out of your 401(k) plan
- By Victor Dozzi
- Financial Planning, Taxes
- 0 Comments
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution. Because
Dec 20, 2022
Is your business closing? Here are your final tax responsibilities
- By Victor Dozzi
- Business
- 0 Comments
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If you’ve decided to close your business, we’re here to assist you in any way we can, including taking care of the various tax obligations that
Dec 15, 2022
Understand your spouse’s inheritance rights if you’re getting remarried
- By Victor Dozzi
- Estate, Financial Planning
- 0 Comments
If you’re taking a second trip down the aisle, you may have different expectations than you did when you got married the first time — especially when it comes to estate planning. For example, if you have children from a previous marriage, your priority may be to provide for them. Or perhaps you feel that
Dec 8, 2022
How savings bonds are taxed
- By Victor Dozzi
- Taxes
- 0 Comments
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take to ensure there’s no loss of
Dec 1, 2022
Year-end giving to charity or loved ones
- By Victor Dozzi
- Gifts, Taxes
- 0 Comments
The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must