Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June…
Your not-for-profit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept advertising or sponsorships that aren’t…
Cryptocurrency has gone mainstream, and if you’ve been sitting on the fence about accepting donations in virtual currency, it’s time to make a decision. But…
There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called…
Operating process controls are vital to every organization, including nonprofit organizations. These processes can be very challenging for small nonprofits because of limited employee numbers…
Throughout the 2020 presidential debates, and subsequent election, we have been inundated with information regarding Joe Biden’s tax reform. On May 28, 2021, President…
July 15 If the monthly deposit rule applies, employers must deposit the tax for payments in June for Social Security, Medicare, withheld income tax and…
If you’re a partner in a business, you may have encountered a situation that gave you pause. In any given year, you may have been…
Many young adults are heading off or back to college in the fall. It’s particularly exciting this year because of high hopes that, thanks to…
As investing in Bitcoin, Dogecoin and other cryptocurrencies becomes increasingly popular, investors need to understand the potential tax ramifications. Unlike traditional currency, the IRS views…