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Nonprofits: Understanding an Endowment’s Impact (Part I)

Nonprofits: Understanding an Endowment’s Impact (Part I)

Endowments represent a significant funding mechanism for nonprofit organizations, but do require careful consideration and management.
Get the word out about IRA qualified charitable distributions

Get the word out about IRA qualified charitable distributions

Enhancements in the SECURE 2.0 Act have made QCDs even more appealing, but you may need to educate your supporters about them.
2024 OMB Compliance Supplement has been released

2024 OMB Compliance Supplement has been released

OMB Compliance Supplement is an annual issuance of the government’s guide for single audits and grant compliance.
It’s time for your small business to think about year-end tax planning

It’s time for your small business to think about year-end tax planning

We are about to close the third quarter of the year. Here are some year-end moves to consider that may help your small business save on taxes.
Welcome charitable pledges — and account for them properly

Welcome charitable pledges — and account for them properly

Your nonprofit may prefer donations (or immediate support) to pledges, which are usually promises to donate in the future. But if you do receive pledges, make sure to account for them properly.
Nonprofits & restricted contributions

Nonprofits & restricted contributions

Restricted gifts to nonprofits require greater care than unrestricted ones. If a donor attaches strings to a gift, develop policies your staffers should follow to ensure restrictions are honored.
Understanding taxes on real estate gains

Understanding taxes on real estate gains

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues.
Navigating Meals and Entertainment Deductions in 2024

Navigating Meals and Entertainment Deductions in 2024

Understanding the intricacies of tax deductions, particularly those related to meals and entertainment, is crucial to optimize your tax savings and ensure compliance with IRS regulations. Significant changes have been implemented in this area, making it essential to stay updated.
Leveraging Bonus Depreciation and Section 179 for Optimal Tax Savings

Leveraging Bonus Depreciation and Section 179 for Optimal Tax Savings

Managing tax liabilities effectively is crucial. Two significant tax-saving opportunities for businesses—Bonus Depreciation and Section 179 deductions—can significantly impact a company's bottom line.
Understanding Business Travel Expenses and Tax Deductions

Understanding Business Travel Expenses and Tax Deductions

Now that business travel has picked up, it is crucial to understand what qualifies as deductible business travel expenses.