Nonprofit work is incredibly rewarding, but in a sector that relies heavily on donor support, success relies heavily on the ability to demonstrate a return on investment. As your organization grows, private donors, foundations and government entities will likely request detailed accounting documents … Read More
accounting professionals
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Differences between a Public Charity and Private Foundation
Are you thinking of starting a nonprofit? Before you do, consider the Internal Revenue Service code, 501(c)(3), which governs nonprofit status. Nonprofits may be classified as either a public charity or a private foundation. The Differences between Public Charity and Private Foundation Public … Read More
California Tax Exemptions for Nonprofits
Many people assume that all nonprofit organizations are automatically exempted from all sales and use taxes. This is not necessarily the case. Organizations are subject to taxes unless there is a specific exclusion or exemption. Tax law is complex and ever-changing and varies from state to … Read More
Get a head start on your 2016 Taxes
If you operate a business that is formed as a partnership or S-corp, March 15 the deadline for filing your business returns is around the corner. For individuals, the tax deadline falls on Tuesday, April 18, 2017. As you start to reconcile accounts and gather your papers, we have a few suggestions … Read More
The Nonprofit Giving Season: How to Stay Compliant with Your Fundraising Activities
As the end of the traditional tax year approaches, giving is on the minds of many business leaders and philanthropists. It’s a busy season for nonprofit professionals and you’re likely ramping up your fundraising efforts so that your organization has every opportunity to meet its financial … Read More
The Nonprofit 501(c) Audit
When it comes to your nonprofit, there are different audit approaches to verifying sound financial management practices and operational compliance. The scope of work to review your nonprofit will vary depending on the organization’s classification. There are 29 different types of 501(c) … Read More
Fiscal or Calendar Year? Which applies to your business?
Starting a small business is an enormous task, and as you move forward, there are many important decisions to make. Are you operating under the calendar or fiscal year? As a small business owner, you might have the opportunity to choose the fiscal or calendar tax year that your organization operates … Read More
How Important Are My Small Business Accounting Records?
Small businesses often are forced to do so much more with far less resources. The question is often posed: "How important are my small business accounting records?" Records require time for filing, organizing and space. Time and space are the two things small business owners have in short supply. … Read More