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June 2024, Monthly desk calendar for 2024 year and pen on yellow color background.
6.11.24

Figuring Corporate Estimated Tax

The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing…

piggy bank with stethoscope on pastel blue background
6.3.24

Inflation Enhances the 2025 Amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and…

Peggy J. Rowe, CPA, CFE
5.31.24

Does Your Nonprofit Need an Annual Audit?

I’m frequently asked the question as to whether a nonprofit needs an annual audit, and the answer is that it depends. Although there’s no federal…

Business people in meeting
5.31.24

When Do 501(C)(6) Organizations Risk Their Exempt Status?

Even when they’re nonprofits, trade associations and chambers of commerce generally qualify for a tax exemption under Section 501(c)(6) of the Internal Revenue Code, not…

Staircase made of colorful wooden cubes
5.31.24

Building a Better Nonprofit Rules for Restructuring

There are many reasons why a 501(c) tax-exempt organization might consider restructuring. For example, a financially struggling nonprofit might decide to join forces with another…

Group of engineers meeting and reviewing plans outside
5.31.24

Nonprofits: Take Another Look at Inflation Reduction Act Tax Breaks

When the Inflation Reduction Act (IRA) became law in late 2022, you might have assumed that the tax breaks it contained wouldn’t affect your tax-exempt…

Crane lifting wall of a house
5.31.24

Best Practices for Offsite Construction Project Management

Under the offsite construction model, major building components or even entire modular structures are prefabricated in manufacturing facilities and transported to job sites for assembly.…

Blue and silver Puzzle pieces - 3D illustration with words C corp, Taxes, and S corp
5.28.24

Should You Convert Your Business From a C to an S Corporation?

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited…

Anthony Cerchia, CPA 292 x 292
5.21.24

Meals & Entertainment: What Can Your Construction Company Deduct?

The Internal Revenue Service (IRS) generally limits the deductibility of food and beverage expenses associated with operating a trade or business to 50%. Activities that…

Work Place Safety and Health at Workplace Concept with WORK INSURANCE wording on notebook
5.21.24

Insuring Construction Projects Under a CCIP

Construction projects are inherently fraught with risk. That’s why having the right insurance in place is critical for all parties involved. For contractors, however, adequate…