Cash management and liquidity are critical for nonprofit financial health and sustainability. This generally involves some form of investment. Nonprofits...
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Non-Profit
11/14/2024
IRS TIN Matching Service Can Save You Time & Money
The IRS requires payors who remit payments to vendors (ex. self-employed contractors) to obtain a name and tax ID number...
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Business
11/14/2024
IRS Implements Changes to Increase Accuracy of 1099 Filings
For years the IRS focused on the accuracy of W-2s in reporting income. Employers were required to have an employee...
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Business
10/23/2024
Mastering Month-End Close: Best Practices and Automation
Have you ever heard someone talk about “closing the books” at the end of the month? The Month-End Close process,...
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Business
10/14/2024
4 Reasons You’re Not Reaching the Right Candidates
Are you trying to hire, but continue to get either unqualified or irrelevant resumes? It’s so frustrating, and it’s easy...
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Business
09/26/2024
Cost Allocation on the IRS Form 990
All 501(c)(3) and (c)(4) nonprofit organizations who are required to file a Form 990 (not including Form 990-EZ or 990-N)...
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Non-Profit
09/12/2024
Rental Income for Nonprofits: Unrelated Business Income Tax or Exempt?
Donations and grants are typically the first things that come to mind when considering nonprofit funding sources. However, many organizations...
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Non-Profit
09/06/2024
Policies and Procedures: Whistleblower Policy
The Importance of the Whistleblower Policy So far in our Policies and Procedures series, we have looked at two of...
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Non-Profit
08/22/2024
Voluntary Disclosure Program: IRS Provides Last Chance to Payback Improper ERC claims filed for 2021
On August 15, 2024, in Announcement 2024-212, the IRS provided a limited re-opening of the second round of a Voluntary...
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Business
08/19/2024
Policies and Procedures: Conflict of Interest Policy
The Conflict of Interest policy is a foundational policy for nonprofits and a cornerstone of nonprofit governance. The purpose of...
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Non-Profit
08/12/2024
CECL: ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The Current Expected Credit Loss (CECL) model is an accounting standard used to estimate allowances for credit losses based on...
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Business
08/09/2024
IRS begins to process low risk ERC claims, review ERC claims, & notify taxpayers of claim denials where they’ve found red flags
The Internal Revenue Service (IRS) has started sending out denial letters related to the employee retention credit (ERC). The IRS...
