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Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once
- Individual Tax Alerts
A strong finance committee plays a critical role in ensuring a nonprofit’s long-term stability and accountability. Beyond simply reviewing numbers, the committee helps guide financial
- Nonprofit Updates
Dave Zabrecky, Director of Compliance Services, represented Legacy at the Illinois AFL-CIO Financial Reporting Seminars and presented on the topic of IRS Reports. The seminars,
- Labor News, Out and About
The Donna A. Hubert Memorial Scholarship Fund offers an annual renewable scholarship to women pursuing a career in accounting. Qualified applicants will be female undergraduate
- Legacy Firm News, News Flashes, Out and About, Press Releases
Last year’s One Big Beautiful Bill Act (OBBBA) terminated several clean energy tax incentives earlier than previously scheduled. But if you bought an electric vehicle
- Individual Tax Alerts
You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? If
- Individual Tax Alerts
The many tax-related provisions that went into effect last year after the One Big Beautiful Bill Act (OBBBA) was signed into law are affecting 2025
- Individual Tax Alerts
You might be tempted to think that “accountability” is just the latest in a long line of management buzzwords. But if properly embraced, it can
- Nonprofit Updates
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are
- Individual Tax Alerts
An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under
- Individual Tax Alerts
Nonprofits of all sizes often receive donations of tangible property, from clothing and household goods to artwork and equipment. But determining how to value those
- Nonprofit Updates
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your
- Individual Tax Alerts
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