It has been a while since any real law changes or updates to the PPP program have come through but now we have some new developments that are worthy of a new discussion. I wanted to put down my thoughts on just where we stand on PPP Loan Forgiveness timing and what I see as...

Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit. So it’s important to work wit...

If you have received a PPP loan over $2M, the accurate completion of your forgiveness application is critical. Before you begin the application process it's important to understand the SBA's form requirements....

Delegation ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically. This means assigning the right tasks to the right staffers — and following up o...

A warning if your not-for-profit organization is looking for expenses to cut: Nonprofits should not skimp on insurance! Should your nonprofit experience a fire, major theft or other calamity, you’ll be glad you have the coverage. Of course, you may also be required by your...

Management overrides of internal controls can make your company more vulnerable to fraud. This is true even when managers have innocent intentions — for example, they don’t feel they have time to follow proper accounts payable procedures because a vendor is requesting im...

On its most basic level, the internal audit function provides assurance of compliance with a nonprofit’s internal controls and their effectiveness in mitigating financial and operational risk. Potential risks include fraud, insufficient funds to support programming and rep...

Ghost stories can be good fun, particularly this time of year. Ghost employees, on the other hand, are trouble for employers. They may be just as fictional as the paranormal activities in your favorite scary book or movie, but if you have ghost employees on your payroll, you...

They say timing is everything. Is that true for PPP Loan forgiveness timing? There really has not been any law changes or updates to the PPP program recently other than the blog we have up about the ownership changes (link here) and the change for the PPP loans under $50k (...

Minnesota has conformed to the Federal Section 179 deduction. This deduction allows taxpayers to deduct the entire cost of certain property as an expense. This eliminates the addback under the former Minnesota law....

Last week the SBA came out with some new guidance for situations where a business has a PPP loan and they are going through some ownership changes and it’s a must read if you are having any type of ownership changes while you have a PPP Loan outstanding....

The SBA came out with a new set of rules and a new PPP Loan Forgiveness application for loans that are less than $50k.  If your loan is more than $50k none of this applies, but for those under $50k we’ve got some good news....