JBC BLOG

Traditional strategic planning requires not-for-profit leaders to perform a lot of guess work about what might happen in the future. This approach also asks decision-makers to explicitly shut [...]

Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third [...]

Does your not-for-profit offer programs that may have started out promising, but have become disappointing? Do you have replacement programs in mind but haven’t yet secured funding for them? [...]

It’s been a long two years. But many not-for-profits are starting to plan in-person galas and other special events for this coming summer and autumn. If your organization is trying to get back to [...]

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of [...]

If your not-for-profit is trying to fulfill its mission with less volunteer help these days, you’re not alone. A December 2021 Gallop poll found that although donating to charity has largely [...]

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, [...]

Business transactions with related parties — such as friends, relatives, parent companies, subsidiaries and affiliated entities — may sometimes happen at above- or below-market rates. This can be [...]

Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you [...]

Many not-for-profits are understaffed in 2022, thanks to a labor shortage and pandemic-related budget shortfalls. Some organizations are filling the gaps with freelancers and contractors. [...]

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be [...]

In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services instead of paying cash for them. Bartering is the oldest [...]

If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For [...]

According to a 2021 Independent Sector survey, 57% of Americans trust not-for-profits to “do what is right.” Although that’s a majority, being trusted by just over half of respondents is hardly [...]

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit [...]

Your not-for-profit may not be required to undergo regular audits. But an audit can reassure donors and other stakeholders that you take seriously your responsibility. An audit can also help you [...]

Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient [...]

If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips. The rules for deducting a spouse’s travel costs [...]

Is your board staring at financial red flags without knowing it? Although some warning signs – such as those experienced when the pandemic first hit – are obvious, others are easy to [...]

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses to claim all the [...]

If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to [...]

If risk wasn’t a nagging concern for nonprofits before the pandemic, it certainly is now. Health risks to staffers, volunteers and clients, and financial threats, including declining donations [...]

Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. [...]

While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited many reasons why they decided to start a business during a [...]

Many nonprofits have put major purchases and other ambitious initiatives on hold during the pandemic. But if you need to buy or expand a facility, purchase expensive equipment, or seed an [...]