The 2018 Year-End Year-Round Tax Planning Guide provides tips for lowering your 2018 personal and business income taxes. Many of the strategies discussed in the tax planning guide must be implemented before the end of the year.
The internal Revenue Service (IRS) requires 501(c)3 nonprofit organizations to have certain documents available to the public, and these documents must be provided upon request.
Proper cash management is vital for a nonprofit organization to ensure the organization is budgeting effectively and complying with that budget.
It is important for bank statements to be reviewed and bank reconciliations to be completed each month to ensure the activity is accurate.
Check out this article for nonprofit deadlines that may be applicable to nonprofit organizations with a year end of June 30th.
In December 2017, major tax reform that affects both individuals and businesses was enacted. It is commonly referred to as the Tax Cuts and Jobs Act of 2017, or TCJA for short.
Most children getting their first job are not aware of the tax rules and that they won’t receive their gross pay, because part of their paychecks may be withheld for federal and state taxes.
The NC Senate and House have been working out the details for the 2019 Budget. Read this article for a few highlights of what is currently included in those proposals.
While specific procedures vary widely depending on nonprofits’ budget, staffing, and mission, nonprofits should document their accounting policies to promote good internal controls.
In-kind donations, also referred to as noncash contributions, are goods or services given instead of a cash donation that a donor may have otherwise contributed in order for an organization to purchase these goods or services.