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An advisory board can complement your nonprofit’s board of directors


Advisory boards are informal and often short-lived. But that doesn’t mean these groups can’t play a critical complementary role to your nonprofit’s governing board of directors. Let’s take a look.

Tags: nonprofit

After you file your tax return: 3 issues to consider


Once your 2019 tax return has been filed, there still may be some issues to consider. We’re often asked about refund status, record retention and amended tax returns. Here are some answers.

Tags: tax

Accounting for cloud computing arrangements


Cloud computing is reshaping the storage of critical business information. But setting up these arrangements can be costly. Here’s the lowdown on new accounting rules that clarify how to account for these costs.

Tags: audit

Appealing to the next generation of supporters


Members of Generation Z are digital natives who may be more politically motivated and charitably inclined that previous generations. How can your nonprofit engage this diverse group?

Tags: nonprofit

Some people are required to return Economic Impact Payments that were sent erroneously


Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of COVID-19. In some cases, the payments should be returned.

Tags: tax

Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill


The CARES Act, which passed in 2020, includes some retroactive tax relief for businesses. Some provisions may be beneficial on a tax return that hasn’t been filed yet (or you may be able to take advantage of them on an amended return if you already filed).

Tags: tax

Regaining your tax-exempt status if you failed to file Form 990s


Without a tax-exempt status, your supporters can’t make tax-exempt donations, among other serious repercussions. If you’ve lost your status due to failure to file Form 990s, act quickly to get reinstated.

Tags: nonprofit

What qualifies as a “coronavirus-related distribution” from a retirement plan?


If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.

Tags: tax

Launching a business? How to treat start-up expenses on your tax return


In the midst of the COVID-19 crisis, some entrepreneurs are kicking off new businesses. Here’s how start-up expenses must be handled on a federal tax return.

Tags: tax

Nonprofits: Carefully navigate the upcoming election


Does your nonprofit want to get involved in the 2020 election? Be careful: The activities you’re contemplating might be prohibited. Here’s the rundown on what you can and can’t do.

Tags: nonprofit