The audit is over. Now what?
Whew! That’s probably your reaction when outside experts announce that their audit of your not-for-profit is complete. But even if auditors have left your premises and returned the documents they’ve reviewed, the work isn’t really over.
Use QuickBooks Online effectively: 7 best practices
Here are seven ways you can be safe, compliant, and productive when you’re using QuickBooks Online.
Supplementing your company’s health care plan with an EBHRA
Is your business ready to take its health care benefits to the next level? One way to do so is to supplement group health coverage with an Excepted Benefit Health Reimbursement Arrangement (EBHRA). Here are some pertinent details. Rules to follow
SEK wins two categories in Tri-State’s Best awards
FOR IMMEDIATE RELEASEOctober 26, 2022 SEK Wins Two Categories in Tri-State’s Best Awards
2023 Cost of Living Adjustments
The IRS recently released the 2023 cost of living adjustments for retirement plans and related items. You can view the updated numbers below or click the button at the bottom to view a printable version!
Keep your religious congregation on the financial straight and narrow
Religious congregations usually enjoy greater protection from federal government oversight than other not-for-profit organizations.
Providing fringe benefits to employees with no tax strings attached
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of two types of benefits which employees generally can exclude from income:
The FLSA asks your nonprofit to accurately classify staffers
Are your not-for-profit’s staffers employees or independent contractors? It’s an important question because under the Fair Labor Standards Act (FLSA), misclassifying workers can lead to penalties and other costs.
M&A on the way? Consider a QOE report
Whether you’re considering selling your business or acquiring another one, due diligence is a must. In many mergers and acquisitions (M&A), prospective buyers obtain a quality of earnings (QOE) report to evaluate the accuracy and sustainability of the seller’s reported earnings.
What local transportation costs can your business deduct?
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses.