If you’re retiring soon, you’ll experience changes in your lifestyle and income sources that may have numerous tax implications.
Here’s a brief rundown of four tax and financial issues you may deal with when retiring:
The CPA Desk
A Thought Leader Production by PKFTexas
The CPA Desk, published by Pannell Kerr Forster of Texas PC, focuses on accounting and financial topics relevant to businesses and not-for-profit organizations. It covers fiduciary responsibilities and governance for nonprofit boards, tax considerations for individuals relocating or retiring, and best practices for financial due diligence in business transactions. The blog also addresses issues related to donation management and refund policies for nonprofits, as well as retirement planning topics such as participation in employer 401(k) plans. The content aims to provide practical guidance on financial management, tax planning, and compliance matters for organizations and individuals in Texas and beyond.
Latest from The CPA Desk - Page 7
The Fiduciary Duties of Not-for-Profit Board Members
By Nicole Riley
It takes more than dedication and enthusiasm for your not-for-profit’s cause and programs to make a good board member. The most critical duty for all board members is being a fiduciary.
This means, among other things, that they can be…
Register Now for TXCPA Houston CPE by the Sea
By PKF Texas
We are proud to sponsor the next CPE by the Sea, an annual conference from the Texas Society of CPAs – Houston Chapter (TXCPA Houston). This year will be another virtual webcast experience, where attendees will gain valuable insights from…
Mark Your Calendars! Upcoming June 2021 Houston Events…
By PKF Texas
As trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and…
Have a Plan to Limit Disaster Damage
By Emily Smikal
COVID-19 was a kind of disaster most not-for-profits weren’t prepared for. As your organization recovers from this unusual event, don’t let it become vulnerable to other, more common, threats.
Every not-for-profit needs a formal disaster plan for such risks as…
The Tax and Nontax Benefits of Hiring Your Children
If you’re a business owner hiring your children this summer, you can obtain tax breaks and other nontax benefits.
The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you…
Considerations for Hiring New Not-for-Profit Staffers
Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April, according to the U.S. Bureau of Labor Statistics. But that’s expected to change quickly as employers ramp up hiring activities. If your…
What Parents can Expect from American Rescue Plan Act
By Andy Aasen
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July…
Is Your Not-for-Profit Thinking About a Merger?
By Nicole Riley
As the COVID-19 pandemic finally seems to be fading in the United States, your not-for-profit organization may be making plans for its post-pandemic future. Is a merger with another not-for-profit part of these plans?
A merger can provide your organization…
Recap: “Governance Gone Bad” Not-for-Profit Webinar
By PKF Texas
What is good not-for-profit governance? How can organizations spot red flags of bad governance and avoid fraud? PKF Texas Directors, Nicole Riley, CPA, CFE, and Emily Smikal, CPA, shared their insight in our Zoom webinar on May 12, 2021,…