7.14.21
Does Your Nonprofit Owe Tax on Its Sponsorships and Advertising?
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…
7.12.21
Cryptocurrency Donations: Will Your Nonprofit Accept Them?
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…
7.12.21
Who in a Small Business Can Be Hit With the “Trust Fund Recovery Penalty?”
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…
7.12.21
How to Incorporate Proper Internal Controls to Boost Your Nonprofit Organization’s Success
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…
7.9.21
What’s in President Joe Biden’s Tax Plan?
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…
7.6.21
Tax Calendar
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…
7.6.21
A Tax Quirk of Being a Business Partner
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…
7.6.21
Are Scholarships Taxable?
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…
7.6.21
Curtailing Tax Surprises With Cryptocurrency
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…
7.6.21
10 Facts About the Pass-Through Deduction for Qualified Business Income
Many owners of sole proprietorships, partnerships, S corporations and some trusts and estates may be eligible for a qualified business income (QBI) deduction. The…