Blog

Becky Gibbs | Nov. 18, 2020

Using Footnotes to Disclose your Nonprofit’s Financial Information

Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental…

Randy Feld | Nov. 12, 2020

What You Need to Know About PPP Loan Forgiveness

If you have received a PPP loan over $2M, the accurate completion of your forgiveness application is critical. Before you…

Becky Gibbs | Nov. 11, 2020

Smart Nonprofit Leaders Know How To Delegate

Delegation ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you…

Becky Gibbs | Nov. 4, 2020

How Much Insurance Does Your Nonprofit Need To Mitigate Risk?

A warning if your not-for-profit organization is looking for expenses to cut: Nonprofits should not skimp on insurance! Should your…

Ashley Sparks | Nov. 2, 2020

Controls Are Ineffective When Managers Go Rogue

Management overrides of internal controls can make your company more vulnerable to fraud. This is true even when managers have…

Ashley Sparks | Oct. 28, 2020

Nonprofits: Internal Audits Still Matter

On its most basic level, the internal audit function provides assurance of compliance with a nonprofit’s internal controls and their…

Ashley Sparks | Oct. 26, 2020

No Season is the Right Season for Ghost Employees and Other Payroll Scams

Ghost stories can be good fun, particularly this time of year. Ghost employees, on the other hand, are trouble for…

Chris Wittich | Oct. 23, 2020

PPP Loan Forgiveness Timing

They say timing is everything. Is that true for PPP Loan forgiveness timing? There really has not been any law…

Drew Wolf | Oct. 22, 2020

Minnesota Now Conformed to Federal Section 179 Deduction

Minnesota has conformed to the Federal Section 179 deduction. This deduction allows taxpayers to deduct the entire cost of certain…

Chris Wittich | Oct. 9, 2020

Ownership Changes with a PPP Loan

Last week the SBA came out with some new guidance for situations where a business has a PPP loan and…

Chris Wittich | Oct. 9, 2020

PPP Loans Under $50,000

The SBA came out with a new set of rules and a new PPP Loan Forgiveness application for loans that…

John Csargo | Sep. 23, 2020

IRS Announces Per Diem Rates for Business Travel

In Notice 2020-71, new business travel per diem rates were recently announced by the IRS. These that can be used…

Sue Storms | Sep. 10, 2020

George Willie Scholarship Recipients Announced

Earlier this year, Boyum Barenscheer was one of five national CPA firms selected to be a cosponsoring firm to provide…

Ashley Sparks | Sep. 9, 2020

Getting the Goods on Inventory Theft

Maybe the numbers didn’t add up during your company’s recent inventory count. You know that most inventory discrepancies are the…

Becky Gibbs | Sep. 9, 2020

What to do When the Audit Ends

Financial audits conducted by outside experts are among the most effective tools for revealing risks in not-for-profits. They help assure…