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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.
2024 Q3 tax calendar: Key deadlines for businesses and other employers

2024 Q3 tax calendar: Key deadlines for businesses and other employers

Summer is here! But here are some important third-quarter tax deadlines that businesses can’t afford to forget about.
Election Year: Learn about Political Campaign Intervention

Election Year: Learn about Political Campaign Intervention

We are in an election year, and this is always a good time to remind 501(c)(3) organizations about the IRS restrictions of political campaign intervention.
Tracking Restricted Donations with QuickBooks Online Projects

Tracking Restricted Donations with QuickBooks Online Projects

In the world of nonprofit accounting, tracking restricted donations and grants can be a challenging task. However, QuickBooks Online offers a powerful feature that can simplify this process.
A Closer Look at ASU 2023-01 Leases: Common Control Arrangements

A Closer Look at ASU 2023-01 Leases: Common Control Arrangements

FASB new guidance ASU 2023-01 Leases is intended to ease the application of lease accounting for entities under common control, providing clarity on key issues that emerged following the introduction of ASC 842.
Figuring corporate estimated tax

Figuring corporate estimated tax

An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations.
Tax tips when buying the assets of a business

Tax tips when buying the assets of a business

When purchasing a business, taxes may not be your main focus. However, the way the transaction is structured can result in either better or worse tax outcomes after the acquisition.
Thinking ahead to your next Form 990

Thinking ahead to your next Form 990

You may be alert to such issues as unrelated business income, but the IRS requires nonprofits to report many activities on their Form 990. We suggest you keep four lesser-recognized issues in mind this year.
New 2025 amounts for Health Savings Accounts

New 2025 amounts for Health Savings Accounts

Does your business provide Health Savings Accounts to employees? The IRS recently announced the inflation-adjusted amounts for 2025. Here's what you need to know.
Nonprofits don’t lose as much to fraud, but risk still requires action

Nonprofits don’t lose as much to fraud, but risk still requires action

Does your nonprofit train staffers and other stakeholders on how to recognize and report fraud? If not, you may risk financial losses you can’t afford. Here are some internal controls you can implement.
Don’t have a tax-favored retirement plan? Set one up now

Don’t have a tax-favored retirement plan? Set one up now

If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there still may be time to set one up for LAST year, depending on your situation.
Reporting Advertising Revenue on Form 990T

Reporting Advertising Revenue on Form 990T

Form 990T, also known as the Exempt Organization Business Income Tax Return, is a form used by tax-exempt organizations to report and pay tax on unrelated business income. Advertising revenue is one such type of unrelated business income that should be reported on this form. Here's what you need to know.