Loan-hunting tips for nonprofits
To remain financially afloat and retain staffers, many not-for-profit organizations took advantage of government loan programs in 2020 and 2021. But nonprofits shouldn’t think about borrowing only as an emergency solution.
Remember to use up your flexible spending account money
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses
How to assess fraud risks today
Auditing standards require external auditors to consider potential fraud risks by watching out for conditions that provide the opportunity to commit fraud. Today more employees may be working remotely than ever before.
Consider all the angles of joint ownership
Estate planners generally tout the virtues of owning property jointly — and with good reason. Joint ownership offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also be aware of all the implications.
Established nonprofits must continue to build and grow
If your not-for-profit was well-established before 2020, it has probably weathered the pandemic and economic stress of the past year-and-a-half better than younger organizations.
FASB offers practical expedient for private companies that issue share-based awards
On October 25, the Financial Accounting Standards Board (FASB) issued a simpler accounting option that will enable private companies to more easily measure certain types of shares they provide to both employees and nonemployees as part of compensation awards. Here are the details.
Timothy E. Peters, CPA, CFF, CGMA Earns Certified in Financial Forensics Credential
FOR IMMEDIATE RELEASENovember 5, 2021
Record expenses in QuickBooks Online and on your phone
The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it.
When nonprofits should return donations
Return requests generally are rare, but occasionally donors may ask your not-for-profit to return their gifts. Are you required to comply? What if you’ve already spent the money? Such requests raise many difficult questions — and even the answers can be complicated.
Hillary Grove, Manager at SEK, CPAs & Advisors Voted Best Accountant by Herald Mail Readers
FOR IMMEDIATE RELEASEOctober 29, 2021