FASB approves updated rules for disclosing income taxes
Updated rules have been approved that will require more detailed disclosures on income taxes to help stakeholders better understand your company’s tax position. Here’s what you should know.
News & Insights
Could your construction business qualify for an energy-efficient tax deduction?
Construction business owners: Does your company substantially contribute to the design of government-funded projects? If so, you may be able to claim a valuable tax deduction.
Build a better nonprofit board with term limits
Although there are potentially a few disadvantages to board term limits, they generally benefit nonprofits. Read on for more about how term limits can promote diversity and cooperation.
FASB finalizes new crypto standard in record time
Good news: Companies that invest in or exchange cryptocurrency assets will soon be allowed to report them at fair value, rather than under the accounting rules for intangible assets. Here’s what you should know about the new crypto standard.
To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros
Aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system
4 best practices for effective strategic planning meetings
Business owners: If you don’t make time for strategic planning, competitors may get the better of you. Let’s discuss some ways to ensure your meetings are productive.
Why nonprofits should be transparent about compensation
Nonprofits whose states or municipalities have passed pay transparency laws must comply by, for example, revealing salary ranges in job postings. But even if you’re not required to, consider adopting these practices.
Navigating the percentage-of-completion method
The accounting rules for reporting income from long-term contracts for book and tax purposes can be confusing. Here’s a brief overview of the accounting rules.
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.