Category: Nonprofit

One of the changes made to the tax laws by the Tax Cuts and Jobs Act (TCJA) was to disallow a tax deduction for qualified transportation fringe benefits businesses provide to their employees. Qualified transportation fringe benefits (QTFs) include:...

Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s at least one other success factor that many business owners often overlook: ...

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your ...

Protecting your company through the purchase of various forms of insurance is a risk-management necessity. But just because you must buy coverage doesn’t mean you can’t manage the cost of doing so.  Obviously, the safer your workplace, the less likely you’ll incur cos...

Affordable accounting. Nonprofit finance committees and leadership teams continue to battle this issue. For small to mid-sized nonprofits, each full-time equivalent job description might as well say: jack-of-all trades, master of all.  The responsibility of the board and fi...

Nonprofit accounting has remained fairly stagnant since the 1990’s but that will be changing over the next few years, specifically with how organizations will now be recognizing revenue. In the past, it was looked at on whether it is an exchange (typically grants initiated...

“What do you mean I have to charge sales tax on my sales?  I’m a tax exempt organization!”  That is a common mistake in the tax exempt community.  In Minnesota, an organization can apply for a formal tax exempt status from the Minnesota Department of Revenue. Form S...

What really is a non-profit organization?  Can they make a profit?  Are donations to them always tax deductible?...