4 cost-cutting areas to help your business boost profits
When was the last time your business performed a formal expense review? This exercise can pay off by lowering costs and raising profits.
Are your volunteers risking legal and tax liability?
Most charitable volunteers don’t think about potential legal and tax liabilities resulting from their volunteer activities. As a nonprofit leader, it’s your responsibility to ensure they never have to worry about such risks.
How to communicate accounting information to laypeople
Stakeholders want accurate, transparent information about your organization’s financial performance. It’s up to you to supply them with information they fully understand to make informed decisions.
Best practices for offsite construction project management
Construction projects don’t all look the same nowadays. One increasingly popular approach is offsite construction, and these jobs present distinctive project management challenges.
IRS extends relief for inherited IRAs
If you’ve inherited an IRA, you need to know about the latest IRS guidance.
Health care self-insurance and stop-loss coverage: What business owners need to know
Self-funded health insurance plans are a viable fringe benefit offering for some businesses. But it’s important to explore all the details first, including stop-loss coverage.
IRS issues guidance on tax treatment of energy efficiency rebates
The IRS has offered guidance regarding the tax treatment of energy efficiency rebates introduced by the Inflation Reduction Act.
Why some businesses choose to execute a pivot strategy
Business owners: If your company is struggling, it may be time to consider a pivot strategy. Here are some reasons other companies have pivoted.
Nonprofits don’t lose as much to fraud, but risk requires action
Does your nonprofit train staffers and other stakeholders on how to recognize and report fraud? If not, you may risk financial losses you can’t afford. We urge you to implement these internal controls.
Getting a handle on inventory
For retailers, manufacturers and many other businesses, a significant amount of working capital is tied up in inventory. What can your company do to lower its inventory carrying costs?
Board committees can help members make time for critical work
Prospective nonprofit board members commonly cite time constraints as a reason not to join. The same goes for current members who resign. Make it easier for qualified individuals to focus their talents with committee work.
Don’t be surprised by a sudden influx of support
Disaster-relief charities have long contended with sudden influxes of attention and donations. But any nonprofit could face this “problem.” Be sure to prepare for logistical and other challenges.