The Inflation Reduction Act: what’s in it for you?
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions…
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Latest News from CrawfordEllenbogen
For a stronger nonprofit, increase the number of income streams
Not-for-profits that rely on a single income source, or only a few, are vulnerable to economic shocks. The COVID-19 pandemic…
An “innocent spouse” may be able to escape tax liability
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount…
Avoid these 4 estate planning pitfalls
No one likes to contemplate his or her own mortality. But ignoring the need for an estate plan or procrastinating…
Three tax breaks for small businesses
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to…
Dangerous donations: Should your nonprofit risk bad publicity?
No not-for-profit wants to turn down donations — particularly if they’re large. Nevertheless, you need to consider the source of…
The tax obligations if your business closes its doors
Sadly, many businesses have been forced to shut down due to the pandemic and the economy. If this is your…
Interested in an EV? How to qualify for a powerful tax credit
Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However,…
Estates now have an additional three years to file for a portability election
Portability allows a surviving spouse to apply a deceased spouse’s unused federal gift and estate tax exemption amount toward his…
5 ways to stop employees from colluding in fraud
What happens if two or more individuals in your organization collude to commit fraud? According to the Association of Certified…
4 estate planning documents your college-aged child should have
Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good…
Businesses will soon be able to deduct more under the standard mileage rate
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. Fortunately,…