Meeting Your Organization’s Tax-Filing Obligations
The 2022 tax-filing deadline is fast approaching for many not-for-profit organizations. If you operate on a calendar-year basis, your filing deadline is May 15, 2023. Otherwise, you must file by the 15th day of the fifth month following the close of your nonprofit’s fiscal year. Whichever deadline you’re aiming for, your tax records need to be organized (and, hopefully, by this time turned over to your tax preparer) so you’ll be able to file without any major hiccups.
How Much FDIC Coverage Do You Have?
In early March, Silicon Valley Bank (SVB) and Signature Bank unexpectedly collapsed. They became the second and third largest bank failures in U.S. history, respectively. The largest collapse involved Washington Mutual in 2008, precipitating the Great Recession. (See “Two Banks Collapse in One Week” at right.)
Supreme Court Rejects Claim for Exemption from Overtime Pay
Employers and employees are often at odds over the issue of overtime pay. Naturally, employers are inclined to argue that an employee isn’t entitled to overtime pay when it would boost the overall compensation that must be paid to the employee. The employer’s position may be bolstered by applicable regulations from the U.S. Department of Labor (DOL). On the flip side, certain employees — even those who are paid relatively high salaries — may claim that they’re entitled to overtime pay under DOL rules and regulations.
It’s a Journey: Not-for-Profit Finance and Accounting Software Selection
By Jim Norton, CPA This article was published in the Fall 2022 issue of Connecticut CPA. If your organization is still generating manual reports, printing paper checks, and/or collecting antiquated expense reports, it’s time to revisit your finance and accounting software. Not-for-profits and associations are experiencing the same pain points as their corporate counterparts, including…
Enterprise-Quality Financial Planning and Analysis with Excel
By CTCPA Advisory Council Chair Jim Norton This article was printed in the Summer 2022 issue of Connecticut CPA Magazine Go to most midsize or above business software pages right now and keep track of how many times they talk about “outgrowing Excel” and the urgent need to replace Excel. In reality, try as we…
3 Tips To Improve Your Audit
By Luis Rivera, Client Success Advocate, Accounting Technology Services With the ever-changing digitization of the world bleeding into companies opting for work at home opportunities over the traditional in-office 9-5; it is no surprise that this has led to audits going paperless. Below are three tips to help improve your audits. 1. Utilize Dashboards Dashboards…