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IRS Struggles
It’s never been a particularly pleasant experience dealing with the IRS, but the IRS is struggling mightily right now in…
Does Your Nonprofit Owe Tax On Its Sponsorships and Advertising?
Your not-for-profit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept…
New Minnesota Tax Law on PTE
On July 1, 2021, Governor Tim Walz signed into law Minnesota’s FY 2022-2023 State Budget, which includes a new elective…
Prevent Conflicts of Interest from Costing Your Business
Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as…
IRS Extends Administrative Relief for 401(k) Plans
As mitigation measures related to COVID-19 ease, it will be interesting to see which practices and regulatory changes taken in…
How Fraud Perpetrators Target Military Personnel and Veterans
According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their…
Update on ERC and PPP Loans
Reminder that your PPP1 forgiveness applications are due 10 months after your 24 week covered period is completed. For example…
2021 Midyear Tax Planning
As the recovery from the COVID-19 crisis takes hold and the economy and life begin to return to normal, now…
Tackling Volunteer Liability Issues
During the pandemic, your not-for-profit may have been forced to operate without your dedicated volunteers. It has probably come as…
2021 Dirty Dozen Tax Scams
The IRS released its annual “Dirty Dozen” tax scams for 2021 on June 28th. One of the key provisions of…
Sales Tax Calculator
Important Changes to the Child Tax Credit
Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American…
Is Your Nonprofit Complying with Federal Procurement Requirements?
“Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) applies to all not-for-profits that accept federal…
FASB – ASU
2020-2021 Tax Planning Guide
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