Protect your organization’s fragile tax-exempt status
Not-for-profit organizations are different from for-profit businesses in many vital ways. One of the most crucial differences is that under Section 501(c)(3), Sec. 501(c)(7) and other provisions, nonprofits are tax-exempt. But your tax-exempt status is fragile.
Changes to premium tax credit could increase penalty risk for some businesses
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit.
The American Rescue Plan Act’s impact on local governments
Unlike the previous economic stimulus bill, the American Rescue Plan Act (ARPA) provides federal funding to all state and local governments, regardless of size. However, as with most federal funding, there are restrictions on how the money can be spent.
Simple retirement savings options for your small business
Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan?
Providing optimal IT support for remote employees
If you were to ask your IT staff about how tech support for remote employees is going, they might say something along the lines of, “Fantastic! Never better!” However, if you asked remote workers the same question, their response could be far less enthusiastic.
How to Use Tags in QuickBooks Online
Where is your money coming from? Where is it going? You can use tags in QuickBooks Online to find out.
Biden signs PPP deadline extension into law
The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 on Tuesday, March 30, 2021 when President Joe Biden signed the extension into law.
Updated guidance for impairment testing: When to consider triggering events
On March 30, the Financial Accounting Standards Board (FASB) published an updated accounting standard on events that trigger an impairment test under U.S. Generally Accepted Accounting Principles (GAAP).
EIDL loans, restaurant grants offer relief to struggling small businesses
The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by the COVID-19 pandemic. The law specifically targets small businesses in many of its provisions.
