IRS issues guidance on new retirement catch-up contribution rules
The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and employees alike. The IRS has now provided guidance.
Financial statements at a glance
Can you name the three reports that make up a comprehensive set of financial statements under U.S. GAAP? To get a holistic assessment of your organization’s performance, it’s important to look beyond profits.
Could your business benefit from interim financial reporting?
For many businesses, generating financial statements once a year isn’t enough. You may want to engage in “interim” financial reporting to produce insightful information more frequently..
Make fundraising a year-round commitment
Even if your nonprofit is gearing up for a holiday fundraising campaign, don’t neglect your ongoing fundraising plan. Don’t have one? We explain how to get started.
New report identifies high-risk areas in financial reporting
Which areas of your organization’s financial statements pose the greatest risk of material misstatement? Here’s a recent report that may help identify high-risk accounts and transactions.
Look carefully at three critical factors of succession planning
Business owners: You can’t be too much of an early bird when it comes to succession planning. From a big picture perspective, there are three primary things you’ll need to think about.
Overhead allocations: Rising costs require a fresh, disciplined mindset
Here’s how to get control of your overhead allocations and make better-informed pricing decisions in today’s volatile marketplace
The IRS warns businesses about ERTC scams
Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you may be hearing on TV or in mail, phone and email solicitations.
Nonprofits: Ready, set, audit!
Don’t let your nonprofit’s audit preparation become a last-minute sprint. Plan early so you’ll have the right records ready for review. We offer suggestions.
What construction businesses with inventory should know about Section 263A
Construction business owners: Does your company carry inventory? If so, you may be required to comply with Section 263A of the Internal Revenue Code. Here’s an overview.
5 tips for more easily obtaining cyberinsurance
Business owners: You know how important cybersecurity is to your company. If you’re thinking about buying cyberinsurance, here are some suggestions for optimizing the application process.
Private foundations: “Disqualified persons” must color within the lines
If you lead a private foundation, you must go out of your way to prevent anything that might be perceived as a conflict of interest or self-dealing. Here’s how to color within the lines and stay out of trouble.