How’s your buy-sell agreement doing these days?
Most companies wouldn’t go into business without some basic types of insurance in place, such as property coverage and a liability policy. For a company with more than one owner, there’s an additional type of risk-management arrangement that needs to be established: a buy-sell agreement.
Sales Receipts, Invoices, and Statements in QuickBooks
QuickBooks allows you to create multiple types of sales forms for different situations. Here’s a look at what they are and when to use them.
Work Opportunity Tax Credit extended through 2020
If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC).
Tax credits may help with the high cost of raising children
If you’re a parent, or if you’re planning on having children, you know that it’s expensive to pay for their food, clothes, activities and education. Fortunately, there’s a tax credit available for taxpayers with children under the age of 17, as well as a dependent credit for older children.
Encourage your organization’s supervisors to regularly provide feedback
Among the most common reasons employees perform below par is they don’t know precisely what they’re doing wrong. Whether dealing with an entry-level employee or a top manager, supervisors need to provide regular and specific feedback to maintain a productive workplace.
How to prepare your nonprofit for a financial audit
Outside financial audits may seem like an extravagance to not-for-profits working to contain costs and focus on their mission. But undergoing regular audits allows your organization to identify risks early and act quickly to prevent problems.
2020 adjusted penalties for health benefits and other plans
The U.S. Department of Labor (DOL) recently announced the 2020 annual adjustments to civil monetary penalties for a wide range of benefits-related violations. Legislation enacted in 2015 requires annual adjustments to certain penalty amounts by January 15 of each year.
Can your board recognize financial red flags?
A key fiduciary duty of your not-for-profit’s board of directors is to oversee and monitor the organization’s financial health. Some financial warning signs — such as the loss of a major funder — may jump out immediately. But other red flags can be more subtle. Here are some of them.
Considerations for Capital Asset Controls
Capital assets often are one of the largest areas on your statement of net position; however, for many entities, little time is devoted to establishing controls around capital assets.
Disaster Recovery
Technology plays a critical role in our job functions, and this dependence on technology creates risks.