- July 27, 2023
Year-end adjustments to nonprofit financial statements reflect differences between the cash basis accounting method and the accrual accounting method. Learn how to reduce the adjustments.
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- July 26, 2023
Leased office space is most likely one of the largest line items in a nonprofit's budget. Now may be a good time to reassess office space needs and possibly downsize or change how you use your space.
- July 25, 2023
When employment taxes aren't paid to the government, the Trust Fund Recovery Penalty is personally imposed on certain business owners and managers. Here are the rules, along with two cases where individuals were held liable and hit with the harsh penalty.
- July 25, 2023
Have you noticed dramatic spending variances from your nonprofit’s budget? What about declining donations? Don’t ignore these nonprofit warning signs. Find out what’s causing them and tackle the underlying issues.
- July 25, 2023
If you’re a new entrepreneur, you may not know that many of the expenses incurred by your new business can’t be currently deducted on your tax return. You should be aware that the way you handle some of your initial expenses can make a difference in your federal tax bill.
- June 29, 2023
Do you know if your employees are covered by the Family and Medical Leave Act (FMLA)? In this article, get the details on employee thresholds and leave provisions.
- June 29, 2023
Looking to invest in energy-saving measures? Find out how the Inflation Reduction Act of 2022 has increased tax credits for energy-efficient home improvements and residential clean energy property. Read more to find out the eligibility criteria and credit limitations.
- June 23, 2023
As of July 1, 2023, Minnesota will prohibit employers from requiring employees to sign non-compete agreements restricting their employment options upon termination.
- June 22, 2023
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may seem simple. But there are a number of factors to consider.
- June 22, 2023
Trusts are an essential tool for estate planning, but trust taxation implications can be confusing. You need to understand the differences between the types of trusts to determine which is best for your unique financial situation and goals.
- June 21, 2023
If you and your employees are traveling for business, there are a number of things to consider to be able to claim business travel deductions. Under tax law, you must meet certain requirements for out-of-town business travel within the U.S.
- June 21, 2023
Business meal and vehicle expenses are a magnet for IRS review. If you claim deductions for them, it’s important to comply with the strict tax law substantiation requirements. Keep these DOs and DON’Ts in mind.
- June 21, 2023
Here are some of the key tax-related 2023 Q3 tax deadlines affecting businesses and employers. This list isn’t all-inclusive, so there may be additional deadlines that apply to you.
- June 19, 2023
Nonprofits are obligated to track time worked by both hourly and salaried workers, so it is critical to know what’s required and to implement timekeeping best practices.
- June 16, 2023
Your nonprofit may do everything by the book and still be selected for an IRS audit. Don’t panic! We can explain the typical correspondence audit process and how to get through it.