Newsletters
When Nonprofits are Taxed on Unrelated Business Income
September 21, 2016While most nonprofits are operated primarily to be tax exempt, it doesn’t mean they won’t pay business income tax. When nonprofits generate income on unrelated activities, this can result in that
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Trends in Family Philanthropy
September 21, 2016Whether you are a family foundation or a grant-seeker, we thought you would find some interest in these trends. Family foundation giving almost doubled between 2002 and 2013 and the number of foundations increased by 44% over this timeframe. This impressive growth can be attributed to three factors: An increase in the creation of family…
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Is Your Payroll Service Provider Really Remitting Your Taxes?
August 3, 2016At a recent client board meeting I was asked how an organization would know if their payroll service provider was remitting the payroll taxes on their behalf. In light of recent press coverage about a municipality and other organizations whose payroll service providers did not remit the payroll taxes, it got me thinking about how…
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Our Annual Business Plan – We Have One Too!
August 3, 2016Well we did it again – we went to Washington to recharge, regroup and visit with our nonprofit peers to convene about top of mind subjects at the AICPA not for profit annual conference! We are lucky to work with so many focused and important organizations in an environment that is welcoming and ‘down to…
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Lines of Defense – The Key Challenges in Integrating Control Activities
August 2, 2016The current economic environment and significant risk events over the last few years have caused companies to maintain a renewed focus on the effectiveness of risk management. Substantial amounts have been spent on risk management activities and reorganizing companies to best manage risk in line with various frameworks and models. However, many companies now feel…
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Devise Your Exit Strategy – An Early Start Helps Ensure A Good Outcome
July 19, 2016Every company owner needs an exit strategy — whether that involves transferring the business to family members or selling it to a management team or a third party. Regardless of the strategy you choose, the earlier you begin planning your exit, the smoother the transition will likely be. And if your ultimate goal is to…
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Preparing For The New Overtime Pay Rule
July 19, 2016After much anticipation, the Department of Labor recently released a new rule that will change how employers compensate employees. Effective December 1, 2016, workers who earn above the previous threshold but below the new one will qualify to receive time-and-a-half for each hour they work surpassing 40 hours a week. An estimated 4.2 million salaried…
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Retirement Planning for the Self-Employed
July 13, 2016Self-employed individuals are notoriously busy, but that does not mean that planning for retirement should be put on the back burner. A recent survey indicated that 70% of America’s 10 million self-employed individuals are not saving regularly for retirement and 28% aren’t saving at all. It is well worth the time to explore the tax-advantaged…
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Gifting Wisely
July 13, 2016Most of us are familiar with the concept that we can gift a certain amount of money to another person every year without gift tax consequences and that there is a limit to lifetime gifts beyond that amount that we can give away that somehow relates to estate taxes when we die. For 2016, those…
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What’s Your Organization’s Performance Score?
June 14, 2016Nonprofits are facing a new challenge as many donors, regulators and ratings agencies now are looking for performance reporting to be provided to them; that is, financial measurements as well as outcome and impact reporting. Of these, financial reporting is most straightforward, as various percentages and ratios are calculated and presented in an attempt to…
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