Key financial metrics that matter to your business
In today's highly competitive business landscape, understanding and effectively managing your company's financial performance is crucial for long-term success.
Do you have to return a donation when a donor requests it?
If a donor has never asked your not-for-profit to return a gift, it may only be a matter of time. Although uncommon, donors can change their minds. They may come to believe your organization is misusing or wasting donated funds or decide it’s no longer fulfilling its charitable mission.
Could value-based sales boost your company’s bottom line?
If your company sells products or services to other businesses, you’re probably familiar with the challenge of growing your sales numbers. At times, you might even struggle to maintain them.
Casualty loss tax deductions may help disaster victims in certain cases
This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property.
What types of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses.
FASB approves updated rules for disclosing income taxes
On August 30, 2023, the Financial Accounting Standards Board (FASB) unanimously voted to finalize its proposed improvements to the disclosure rules for income taxes. Here’s what’s changing and when those changes are effective. Rate reconciliation
ESOP valuations under increased IRS scrutiny
An employee stock ownership plan (ESOP) can facilitate the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way.
The crucial role of accurate financial reporting: why regular review matters
Accurate financial reporting is the backbone of any successful business. It serves as a mirror reflecting the financial health and performance of a company, helping stakeholders make informed decisions.
2023 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
Trust and internal controls can coexist in your nonprofit
Within a period of just a month, a Minnesota woman was charged with skimming more than $300,000 from her animal rescue charity, a Florida man was charged with multiple felonies for running several charities for his personal benefit, and a New York man was sentenced to 18 months in prison for defr