Not-for-Profit

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FTC Ban on Noncompete Agreements

A new FTC ruling has made noncompete agreements unenforceable for most employees, with the aim of fostering competition and job mobility. Learn about the ruling and its potential impact on your business in this article.
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Use Board Committees to Share the Load

Prospective nonprofit board members commonly cite time constraints as a reason not to join. Using board committees to lighten the load may make it easier for nonprofits to recruit qualified individuals.
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Misrepresentation of Wellness and Nutrition Expenses

The IRS has issued a warning against companies misrepresenting personal wellness and nutrition expenses as medical expenses. Understand the potential tax implications and how to use your health spending accounts responsibly.
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Maximize Depreciation of Newly Acquired Assets

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can help achieve this goal: first-year Section 179 depreciation deductions and first-year bonus depreciation deductions.
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Changes to 403(b) Retirement Plans

The SECURE Act 2.0 made some important changes to 403(b) retirement plans, which typically are offered by nonprofits to their employees. Is your nonprofit caught up on the law’s provisions?
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Nonprofit Tax Credits

The Inflation Reduction has several provisions that benefit nonprofits with credits or cash payments. Read more for details on the provisions to determine if your nonprofit qualifies.
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Expense Reimbursement for Nonprofits

Even if your not-for-profit rarely needs to reimburse staffers, board members or volunteers, an expense reimbursement policy will make the reimbursement process easier and reduce the risk of any disagreements.
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Board Meeting Minutes

Nonprofit board meeting minutes could become critical documents in an IRS review or legal proceeding. It is important to capture the right information.
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Identity Theft Scams – Protect Yourself

Identity theft occurs when someone wrongfully obtains and uses another person's personal information, such as their name, Social Security number, credit card accounts, or other confidential data, and uses it to commit financial fraud or engage in other criminal activities while impersonating the victim.
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UBIT for Nonprofits

Sponsorship and advertising can provide a real boost to your not-for-profit’s income. However, if sponsors or advertisers receive a “substantial benefit” or if providing benefits isn’t a related business activity, you may owe unrelated business income tax (UBIT).
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Nonprofit Compliance

In recent years, the IRS has increased its scrutiny of nonprofit compliance. Failure to file Form 990 for three consecutive years can lead to automatic exempt status revocation, and other violations can trigger IRS investigations.
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Nonprofit Merger

A nonprofit merger with a like-minded organization potentially enables you to pool funds, staff, and supporters — temporarily or permanently.
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Donation Return Request

Although uncommon, donors can change their minds and may ask your not-for-profit to return a gift. You need to look at the problem and find a solution.
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2024 Inflation-Adjusted Rates

The IRS has announced various federal inflation-adjusted rates.  Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.
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Trust and Internal Controls

Strong internal controls reduce risk for nonprofits but trust and internal controls can coexist.
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