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May 2018
Does your nonprofit properly report donations?
Your not-for-profit probably already ensures that donors receive a receipt with information about claiming a charitable contribution deduction on their tax return.
Bookings vs. shippings: A sales flash report primer
Do bad sales months often take you by surprise? If so, don’t forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week.
Saving tax on restricted stock awards with the Sec. 83(b) election
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package.
It’s time for a midyear checkup!
Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results.
Financial sustainability and your nonprofit
If your not-for-profit relies heavily on a few funding sources — for example, an annual government or foundation grant — what happens if you suddenly lose that support?
Ask the right questions about your IT strategy
Most businesses approach technology as an evolving challenge.
Sending your kids to day camp may provide a tax break
When school lets out, kids participate in a wide variety of summer activities. If one of the activities your child is involved with is day camp, you might be eligible for a tax credit!
The TCJA changes some rules for deducting pass-through business losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations.
IRS issues guidance to ease transition to FASB’s new revenue recognition rule
In 2014, a new accounting standard on how to recognize revenue from contracts was issued by the Financial Accounting Standards Board (FASB).
4 ways to encourage innovation in customer service
When business people speak of innovation, the focus is usually on a pioneering product or state-of-the-art service that will “revolutionize the industry.” But innovation can apply to any aspect of
Procurement procedures: Is your nonprofit really in compliance?
The relatively new federal procurement standards significantly alter the way not-for-profits receiving federal funding handle purchasing.
Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home.
Can you deduct business travel when it’s combined with a vacation?
At this time of year, a summer vacation is on many people’s minds.
What’s all the buzz about XBRL?
The Securities and Exchange Commission (SEC) requires public companies to provide their financial statements in the eXtensible Business Reporting Language (XBRL) format as an exhibit to their regul
Cost control takes a total team effort
“That’s just the cost of doing business.” You’ve probably heard this expression many times. It’s true that, to invoke another cliché, you’ve got to spend money to make money.
Knowing whether income is sponsorship or advertising
Many not-for-profits supplement their usual income-producing activities with sponsorships or advertising programs.
Do you need to adjust your withholding?
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive.
IRS Audit Techniques Guides provide clues to what may come up if your business is audited
IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction.
Profits: How low can you go?
If your profits are falling compared to revenue and assets, your financial statements may provide insight into what’s happening and how to improve your performance.
3 ideas for recruiting nonprofit volunteers
Most charitable not-for-profits have a never-ending need for volunteers. But finding new ones can be time-consuming — and volunteer searches aren’t always successful.
Say, just how competitive is your business anyway?
Every business owner launches his or her company wanting to be successful. But once you get out there, it usually becomes apparent that you’re not alone.
Get started on 2018 tax planning now!
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for th
A review of significant TCJA provisions affecting small businesses
Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA
