Working capital fuels daily operations and business growth. But there’s a delicate balance between having too little and too much.
Do you or your employees deduct transportation expenses for operating an automobile for business purposes? If so, learn about recent IRS guidance on optional standard mileage rates.
If your nonprofit issues work credit cards to employees, make sure you have a policy that explicitly states how they can (and can’t) use them. Here are some best practices to follow.
It’s only natural to overlook accounting rule changes until they affect your company’s financial statements. So, you might not be aware of favorable changes to the post-M&A accounting rules, unless you’ve recently merged with or bought a business.
Should you file your tax return as a single person, a married couple filing jointly, a “head of household” or some other status? This explains what the federal tax filing statuses are and who can claim them.
Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the just-announced limit for 2020.
As a result of recent accounting guidance, your nonprofit may treat grants and similar contracts as contributions more often than it has in the past. Why? And what exactly are the new rules?
If you’re working on your year-end tax plan, you’d be wise to take these 2020 cost-of-living amounts into consideration.
U.S. Generally Accepted Accounting Principles have become more complex in recent years. And more GAAP changes are in the works. Here’s a simpler alternative that could provide relief for some private companies.
How often are you replacing tools and other small equipment items? These assets may be lost by forgetful workers, damaged by negligent ones and stolen by thieves. Here’s an idea to help protect these assets and your company’s bottom line.
Retirement is a whole new phase of life. You’ll experience many new things, and you’ll leave others behind – but what you won’t avoid is taxes. If you’ve followed the advice of retirement plan consultants, you’re probably saving...
If your business doesn’t invest in financial wellness for your team, you may find it difficult to attract and retain the best employees.
Outsourcing allows companies to focus more on their core businesses, rather than spending time on areas outside their expertise.
Allocating year-end tax planning time now can prove beneficial come tax filing time next year.
What information should you share with your board? There are three basic categories. But in general, if it’s something that will help them serve your nonprofit, it’s something you should share.
The IRS offers useful tips for plan sponsors, helping you to stay compliant, informed and prepared to provide the best possible retirement plan for your employees – here are some highlights.
There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded.
If you’re concerned about your 2019 tax liability, consider these year-end tax planning opportunities.
Profits interest awards are a type of equity-based compensation that’s unique to limited liability companies. But estimating the fair value of these arrangements can be tricky — unless the rules are simplified.
Don’t produce a paint-by-numbers annual report. There’s plenty of leeway to get creative and illustrate your nonprofit’s story so that stakeholders will want to read your report. Here’s how.
Balance sheets and income statements get all the attention. But the less popular statement of cash flows can be a powerful management tool, if you know how to interpret it…
When a nonprofit must choose whether to buy or lease its facility, the decision-making process can be tough, with many factors to consider. We review the pros and cons of each option.
The U.S. Department of Labor’s final overtime rule goes into effect on January 1, 2020. Will your company be ready?
Are you looking for ways to save for your child’s or grandchild’s education? Or do you want to save for private elementary and secondary school? A Coverdell Education Savings Account may help.
Did you know that the Financial Accounting Standards Board (FASB) recently extended the simplified private-company accounting alternatives to not-for-profit organizations? Many merging nonprofits, including educational...