Nonprofit: How to protect your tax-exempt status
A Titanic Loss What would happen if your nonprofit lost its federal tax-exempt status? The thought might send shivers down your spine, and it should. Here are reminders about some…
Internal Controls for Business Owners to Use Today
Tightening Internal Controls can Protect your Company By Reggie Novak, Senior Manager, CPA, CFE, Ciuni & Panichi, Inc. In today’s fast-moving marketplace, businesses face numerous challenges, including management of security…
Changing Jobs: What About My Old Retirement Plan?
What do you do with your old retirement plan when you change jobs? First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will…
Tax Benefits of Knowing the Value of Your Estate
Why you need to know the value of your assets. With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. …
College Tax Breaks Help Save You Money
More Tax Breaks for Your Family At Ciuni & Panichi, Inc., we are experts at finding all the credits you and your family deserve. Tax credits can be especially valuable…
FSA Plans: Employers, Have You Amended Your Plans to Allow Rollover?
Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored benefit plan that pays, or reimburses them for, qualified medical expenses not covered by health…
Tax Relief – Make the most of your Net Operating Loss
Turn your business loss into a tax gain! If during the income tax return filing year, you found that your business had a net operating loss for the year, the news at tax…
Tax Deduction: State and Local Sales Taxes
Could the Tax Deduction of State and Local Sales Taxes Save You Money? For the last several years, taxpayers have been allowed to take an itemized tax deduction for state…
Flexible Spending Accounts Must Be Amended by Year-End
Update Your Flexible Spending Account Now Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored plan that reimburses them for qualified medical expenses not…
New Job – Don’t Forget Your Retirement Plan
What to do with your old retirement plan when you change jobs. First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be…