- October 11, 2023
Almost no region of the United States has escaped natural disasters recently, so if your organization doesn’t have a NFP disaster plan, it needs to put one in place immediately.
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- October 10, 2023
If you’re getting a divorce, you know it’s a stressful time. But if you’re a business owner, tax issues can cause more stress. We can help you plan for the best post-divorce tax outcome.
- October 9, 2023
Don’t let the preparation for your NFPs annual audit become a last-minute sprint. Plan early so you’ll have the right records ready for review.
- October 9, 2023
The Sec. 199A deduction is a potentially valuable tax break if your manufacturing company operates under one of the applicable pass-through entity types such as an S corporation, partnership or limited liability company, and you meet certain eligibility requirements.
- October 5, 2023
If you are guaranteeing a loan to your corporation and it goes into default, there may be tax consequences. You don’t want to be caught unaware.
- September 29, 2023
It’s smart for manufacturing business owners to have a well-planned exit strategy. Do you know what your plan should cover?
- September 26, 2023
Private foundations must adhere to strict conflict-of-interest rules. Transactions with “disqualified persons,” including substantial contributors, managers, officers, directors and trustees and their families generally are off-limits. . Selling or leasing property to or from your foundation and making loans or providing goods to it are prohibited. If the IRS determines
- September 26, 2023
The 2023 Q4 tax deadlines are coming up fast. And, it’s also time to start thinking about year-end tax strategies.
- September 19, 2023
On October 1, 2023, a metro sales tax increase will affect seven metro counties in Minnesota. The counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington will need to collect a new 1% local sales tax that will be used to fund transportation and housing projects.
- August 28, 2023
Most not-for-profits regard their volunteers as invaluable assets and the organization needs to do all it can to reduce volunteer risk. After all, if it weren’t for your volunteers’ dedication and commitment, your organization might have stalled out a long time ago.
- August 25, 2023
For nonprofits, tax reporting for special events can be complicated. But careful tracking of revenues and expenses and retaining related documentation now will help facilitate the reporting process later.
- August 24, 2023
In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
- August 23, 2023
Most nonprofits benefit when they accept donations from supporters in whatever form they want. So if you don’t yet accept cryptocurrency donations, here are some ideas on why you may want to start.
- August 22, 2023
If your manufacturing company is looking to reduce its tax bill, it’s important to familiarize yourself with the General Business Credit (GBC) which is a collection of credits scattered throughout the tax code.
- August 22, 2023
If your business receives more than $10,000 in cash or cash equivalents in one transaction (or two or more related transactions), you’re generally required to report these large cash transactions to the IRS — and not just on your tax return.