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Cash vs. accrual reporting: Which is right for your business?


Tax reform has opened the door for more companies to use the simpler cash method of accounting. While simpler is often better, weigh all the pros and cons before switching methods.

Tags: audit

Leadership’s role during a nonprofit’s merger


Nonprofit leaders may think they can turn over the logistics of a merger or acquisition to their professional advisors. But executives and board members play a critical role during the five major phases of the merger process.

Tags: nonprofit

The tax deduction ins and outs of donating artwork to charity


Donating artwork is a great way to share enjoyment of the work with others. But to maximize the tax benefit, too, you must plan your gift carefully and follow all the rules.

Tags: tax

Be sure your employee travel expense reimbursements will pass muster with the IRS


Changes under the TCJA make travel expense reimbursements even more attractive to employees. But your business must follow IRS rules so you and your employees can enjoy valuable tax benefits.

Tags: tax

Sustainability reports look beyond the numbers


Sustainability reports can add value and help investors evaluate opportunities and risks. Currently these disclosures are voluntary. One senator has asked the GAO to study whether they should be required and ways to make them more effective.

Tags: nonprofit

Volunteers are assets nonprofits must protect


If you don’t treat your volunteers like the valuable financial assets they are, you may lose them. Learn four ways to keep them happy and engaged.

Tags: nonprofit

You might save tax if your vacation home qualifies as a rental property


For owners of vacation homes, now is a good time to review year-to-date rental vs. personal use of the home. Adjusting use between now and year end might be beneficial. Here’s why.

Tags: tax

2018 Q4 tax calendar: Key deadlines for businesses and other employers


Kids back in school, the days getting shorter, pumpkin spice everything. It must be fall! For businesses, that means it’s time to begin year-end tax planning. It’s also time to think about the fourth quarter 2018 filing deadlines.

Tags: tax

How to reduce the tax risk of using independent contractors


Does your business use independent contractors? Could the IRS reclassify them as employees and subject you to back taxes, interest and penalties? Find out what the IRS looks for and what you can do to reduce the risk of reclassification.

Tags: tax

Do you need to make an estimated tax payment by September 17?


Two of the 2018 estimated tax payment deadlines for individuals have already passed; the third one is coming up very soon. Here’s how to determine if you need to make a payment.

Tags: tax