blog
February 1, 2023
A Refresher on Nonprofit Endowment Management

If your not-for-profit has an endowment, you probably know it’s a major responsibility. Endowment investments generally need to be managed by a financial expert, and your organization must adhere to certain regulations, particularly when it comes to spending. As a refreshe...

February 1, 2023
Many Tax Limits Affecting Businesses Have Increased for 2023

An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business....

January 20, 2023
Valuing Tangible Property Donations Isn’t as Simple as You May Think

A new refugee resettlement charity had only just begun operating when its director realized something: She wasn’t sure how to value the many donations of clothing and household goods community members had dropped off. Was value simply the price her not-for-profit would cha...

January 19, 2023
January 18, 2023: The Staffing Challenges Webinar Recording

The Tax Cuts & Jobs Act made significant changes to the tax treatment of R&D costs that will affect almost every company in 2022. Boyum Barenscheer's Greg Carlson and Aprio's Dave Hanson hold a webinar that covers the changes, impact on businesses and steps needed to incorpo...

January 18, 2023
How the New SECURE 2.0 Law May Affect Your Business

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over sever...

December 30, 2022
Tip to Help Prevent Accounting and Tax Errors

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your not-for-profit should strive to be as accurate as possible when preparing accounting and other tax docu...

December 27, 2022
Game On! Just Make Sure Your Nonprofit Follows Tax Rules

If you’re starting to plan activities for a 2023 fundraiser, consider gaming — for example, bingo, poker, raffles and even casino-type games. Such games can be a great way to engage supporters and raise more revenue than your not-for-profit might otherwise. However, gami...

December 14, 2022
Do You Qualify for the QBI Deduction? And Can You Do Anything by Year-End to Help Qualify?

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: ...

December 14, 2022
New Accounting Standard: Does it Affect Your Nonprofit?

An accounting standard from the Financial Accounting Standards Board (FASB) that takes effect in mid-December, 2022, could require your not-for-profit organization to act. Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326), Mea...

November 29, 2022
Operating Reserves Can Help Cushion Financial Blows

First the COVID-19 pandemic wreaked havoc on not-for-profit finances and operations. Now, many organizations are worried about how high inflation and a possible recession might interfere with their plans. To help prevent service disruptions and other negative outcomes, focus...

November 28, 2022
Intangible Assets: How Must the Costs Incurred Be Capitalized?

The term “intangibles” covers many items. It may not always be simple to determine whether an intangible asset or benefit has been acquired or created. Intangibles include debt instruments, prepaid expenses, non-functional currencies, financial derivatives (including, bu...

November 23, 2022
Don’t Fall for Invoice Fraud Schemes

Middle-market businesses lose an average of almost $300,000 annually to invoice fraud, according to a recent survey by software company Medius and researcher Censuswide. Invoice fraud can be challenging to spot — and even more difficult to recover from — but your company...