Without an accountable plan, your nonprofit and your staffers may pay unnecessary taxes on employee business expense reimbursements. Here’s how these plans work and how to set one up.
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The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).
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How seriously does your nonprofit take fraud threats? Some organizations do relatively little to protect assets, leaving control gaps that thieves can slip through. We explain why this is a dangerous strategy.
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If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.
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Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.
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Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
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Capacity-building is a worthy pursuit for any nonprofit. But instead of focusing on inadequacies, you may want to concentrate on pumping up your strengths. Here’s why.
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Fresh IRS guidance is available for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.
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There are several ways for your nonprofit to enlist the support of corporate America. One of these is cause marketing. Here’s what it is and how it’s different from other partnerships.
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If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implications.
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If your child receives a scholarship, is the amount taxable income? Here are the rules.
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Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IRS. Here are the rules.
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The SBA has eased the process of forgiving a PPP loan. Here’s how.
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Worried about your nonprofit’s impending audit? Don’t be. Follow these five tips for preparing for a stress-reduced audit.
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Long-term care, including nursing home care, is expensive. Fortunately, there may be tax breaks if your parent is moving into a nursing home.
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To maintain strong cash flow and make fundraising a continuous effort, your nonprofit needs a strategic fundraising plan. Learn how to create one.
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If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Here are the rules.
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Have you inherited assets or are you planning your estate? If so, it’s crucial to understand the current “step-up” basis rules and why they might change.
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Which HR functions could your nonprofit potentially outsource? Here’s how to identify them and determine the benefits and drawbacks of engaging an outside service provider.
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Distinctions between taxable advertising and nontaxable sponsorships can be nuanced. Before seeking new income sources, figure out if they’re potentially subject to unrelated business income tax.
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