On December 20, 2023, the IRS released Notice 2024-02¹ containing a slew of guidance on 12 provisions of SECURE Act 2.0. Read a summary of selected segments.

In the Terminator movie franchise, the third installment was titled Terminator 3: Rise of the Machines and continued the original movie’s theme of how the growth of Artificial Intelligence (AI) would ultimately lead to the end of civilization, as AI would discover that it no longer had need of humans. Fortunately, as AI is still in its infancy, the stock market is pricing in only the positive aspects of the technology. While graphic chips provider Nvidia (up 82% in Q1) has served as the poster child for Artificial Intelligence investments, many other technology companies (such as Super Micro Computer – up 255% in Q1) with some connection, or perceived connection, to AI rallied strongly in the first quarter. This led to an overall positive market sentiment throughout the period that lifted the S&P 500 and the NASDAQ 100 higher.

Ultimately, we believe the most powerful trend in AI will be the productivity enhancements experienced by many companies across a wide swath of industries. Read more about our thoughts on market trends and our look ahead to the remainder of 2024.

Want to feel like a true Superwoman? Try checking off your household to-do list all by yourself! Take it from me, there are many valuable "life skills" that all women (married, single, divorced, widowed, or care-giver) should know, or at least become familiar with (aka, know the right questions to ask). Find out more from my lessons learned.

At McKinley Carter, we not only provide guidance in a variety of important areas of nonprofit operations and finance (investment management, board governance, and fundraising, to name just a few), we also contribute to the overall mission of our nonprofit clients and their positive community impact, in perpetuity. How? Through an alignment of our goals — the most important of which is sustainability.

​​​​​​​Sustainability is critical for a nonprofit’s long-term viability, effectiveness, and service to constituents. It goes hand-in-hand with fiscal planning. Find out what nonprofits should consider in their fiscal planning.

Building a family culture of philanthropy, whether that is through monetary efforts, or through gifts of time and energy, can strengthen family bonds, create a lasting legacy, and make an important difference in our communities. Is now the time to be intentional with your family about giving back to your community? Start the conversation and see where it leads.

The title of this blog is meant to catch the attention of all those who grew up in the 80s. This is one of the first lines in the debut song "Ice Ice Baby" by American rapper Vanilla Ice. While Vanilla Ice's song doesn't have anything to do with nonprofit collaboration, the words stop, collaborate, and listen do resonate when it comes to opportunities for nonprofits to collaborate with their community. Learn more.

As you work through the labyrinth of decisions that move you from working and planning and working some more, to drawing an income and conserving value, it is always a welcome discovery to reduce your tax bill and, therefore, add another layer of security to your personal financial outlook.

One of the lesser-known strategies some retirees should consider applies if they have company stock within their 401(k) or Profit Sharing Plan; the special tax election is known by the label Net Unrealized Appreciation (NUA). Learn more.

Since 1990, the Financial Crimes Enforcement Network (FinCEN) has been a bureau of the U.S. Department of the Treasury. They are tasked with promoting national security and safeguarding our financial system by combatting financial crimes like money laundering and terrorist financing.

As of January 1, 2024, FinCEN has been given a new responsibility. Under the Corporate Transparency Act of 2021, FinCEN is now collecting required reports from U.S. companies that identify their beneficial owners and detail information. Is your business or entity one that is now required to report beneficial owners? Learn more.

A recent Vanguard report sheds light on the pressing challenges faced by retirees across different income brackets. The findings reveal that lower income workers allocate a significantly larger portion of their pre-retirement income to meet their daily needs, leaving them with a substantial shortfall in retirement readiness — even when factoring in Social Security benefits.

Plan sponsors can take proactive steps to help participants better prepare for a secure retirement to ensure that all employees, regardless of income level, have a fighting chance at a comfortable retirement. Learn more about those key steps.