Jun 26, 2025 | Not-for-Profit, Tax News
When it comes to financial planning, few things are more important to a nonprofit than the creation of the budget. It’s how the board of directors and staff plan for income and expenses. Approval of the annual budget is a fundamental step toward sound financial...
Apr 24, 2025 | Not-for-Profit, Tax News
If you’re planning to enter the world of tax-exempt organizations, you first need to understand what a tax-exempt organization actually is. According to the IRS, the organization must fall into one of the following categories: charitable, religious, educational,...
Sep 5, 2024 | Business Planning, Closely Held Business, Not-for-Profit
Maintain accurate records; keep track of your company’s finances, bookkeeping, payroll, management accounting, taxes, accounts receivable, accounts payable and financial reporting; and follow up on debts and compliance. Phew! What a relief to have expert...
Jul 23, 2024 | Business Planning, Not-for-Profit
Nonprofit accounting may seem overwhelming at times, but it becomes easier once you begin to understand how finances function and move within your organization. By using this info, you can implement best practices for effective accounting decisions. With the right...
Apr 25, 2024 | Not-for-Profit, Tax News
Have you ever wondered how you’re supposed to determine whether your organization is eligible for exemption from federal income tax? The possibility of being tax-exempt is permitted under section 501(a) of the Internal Revenue Code. But what about determining private...
Mar 14, 2024 | Not-for-Profit, Tax News
If you’re planning to enter the world of tax-exempt organizations, you first need to understand what a tax-exempt organization actually is. According to the IRS, the organization must fall into one of the following categories: charitable, religious, educational,...
