Accounting News

Not-for-profits increasingly are adopting a corporate world tool: financial dashboards. A dashboard is a summary of an organization’s progress toward a specific goal over time — or a snapshot […]

Employees or independent contractors? It’s not only for-profit companies that struggle with the question of how to classify workers for federal tax purposes. Not-for-profit organizations must withhold and pay […]

If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership […]

Current financial pressures mean that your not-for-profit probably can’t afford to pass up offers of support. Yet you need to be careful about blindly accepting grants. Smaller nonprofits that […]

Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions. Filing requirements Each person […]

Not-for-profits sometimes team up with other entities to boost efficiency, save money and better serve both organizations’ constituencies. This can be a smart move — so long as your […]

Does your not-for-profit have a code of ethical conduct? According to the Association of Certified Fraud Examiners, establishing and enforcing an ethical code is associated with 50% lower fraud […]

There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any […]

If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery Penalty” because it applies […]

Want to increase your not-for-profit’s revenue? First try analyzing current income as a professional auditor might. Then, you can apply your conclusions to setting annual goals, preparing your budget […]

Your not-for-profit has a board of directors — so why would it need an additional advisory board? There are a few reasons. Some organizations assemble advisory boards to provide […]

Factors such as wealth level, education and even whether people volunteer, probably will tell you more about potential donors than their generation. But some broad generalizations about age can […]