Most people know that CPAs are known for helping people prepare and file taxes. Small business owners who work with CPA firms probably also know that CPAs are in a great position to help with bookkeeping and accounting as well. If you’re new to business (or have...
Nonprofits
Unrelated Business Income 101 (And How To Use It To Help Your Nonprofit)
Unrelated business income can be a real problem for a nonprofit if you’re not careful. Nonprofit organizations benefit greatly from their tax-exempt status with the IRS. But that can be threatened if the income you generate starts to make you look more like a...
How Good Bookkeeping and Tax Services Can Make A Big Difference
Bookkeeping and tax services seem to be everywhere, but are they worth it? There was a time not too many years ago that in order to get someone to do bookkeeping or taxes for your company you either had to hire someone full-time on your staff or contract with someone...
How Much Profit Can A Nonprofit Make? (Or When Tax-Exempt Really Isn’t)
A question we often get about nonprofits is: “Do nonprofits ever have to pay taxes on what they bring in?” It can be a confusing topic that affects many of our clients who, understandably, want to stay on the right side of the IRS and their state governments. So in...
How To Make Filing Taxes for a Nonprofit Easy (Everything You Need to Know)
Filing taxes for a nonprofit is probably not on anyone’s “bucket list.” When you’re busy running a charitable organization that is serving a need in your community, the last thing you’re looking forward to is tax time. We get it! Tax returns can be stressful enough on...