Not-for-Profit

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An S-Corp Could Cut Self-Employment Tax

If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax.
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Nonprofit Boards: Is it Time for an In-Person Retreat?

As states open for business and the need for social distancing recedes, your not-for-profit organization may want to think about scheduling an in-person retreat for your board of directors.
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2022 Health Saving Accounts Amounts

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).
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Nonprofit Gifts in Kind Rule Changes to Start in 2022

Some nonprofit organizations may accept contributions of nonfinancial assets, such as land, services, and supplies. If your nonprofit accepts this kind of contribution, you should know about Financial Accounting Standards Board (FASB) rules approved last year.
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Nonprofits: Minimize Year-End Financial Adjustments

Auditors of not-for-profits sometimes propose year-end adjustments to interim financial statements prepared by nonprofit staff for the board. Why do auditors do this?
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Business Energy Credit for Alternative Energy

If you are interested in alternative energy technologies to help manage your business energy costs, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
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Benefits to Attract and Retain Employees

VIDEO: Attracting and retaining great employees can be very challenging. While compensation is certainly important, your employee benefits package can be a powerful force in an employee’s decision. In this video, we cover benefits to help attract and retain great employees.
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Financial Danger Signs for Nonprofits

Many not-for-profits are just starting to emerge from one of the most challenging environments in recent memory due to the COVID-19 pandemic. Even if your organization is in good shape, don’t get too comfortable.
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The Importance of Benchmarking for Nonprofits

Benchmarking is widely used by for-profit companies but sometimes is overlooked by charities and other nonprofits.  A not-for-profit organization should be committed to benchmarking because it offers many benefits, including long-term sustainability.
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Olsen Thielen Celebrates 100 Years

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains.  commitment to their clients and their community. 
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Time to Rebuild Your Nonprofit’s Operating Reserves?

Events of the past year may have put a dent in many not-for-profit organizations' reserves. You possibly could have tapped into your reserve fund to buy personal protective equipment or maybe to pay salaries when your budget no longer proved adequate.
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How Your Nonprofit Can Recover From Fraud

Fraud and embezzlement schemes cost not-for-profit organizations more than just money. The hit to a group’s reputation may scare off donors, grantmakers, and other supporters.
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Nonprofits and Social Media Influencers – How to Work Together

With the competition for donation dollars fierce right now, many not-for-profits are turning to influencers — from Hollywood celebrities to politicians to blog stars — to raise awareness of their organizations and causes.
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Nonprofits: Watch Out for the Commerciality Doctrine

If your nonprofit has lost financial support during the pandemic, you may be looking for new ways to generate revenue.  However, you need to be very careful if the proposed solution is a side business. 
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Will Permanent Work-from-Home Work for Nonprofits?

It’s been almost a year since many not-for-profit organizations sent staffers home — to work remotely. For many nonprofits and employees, remote work has been a positive experience.
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