How to Build a Corporate Relationship
Businesses of all sizes enjoy giving back to the community. Some even include charitable activity as a key piece of their socially responsible corporate orientation. While corporations provide only 5 percent of all direct contributions, they give many more dollars in sponsorships and other cause-related marketing activities, according to Giving USA. The possibility of creating…
Travel and Meal Expenses: What’s Deductible?
If you travel frequently as part of your job, it’s essential at tax time to know what’s deductible and what isn’t, especially if you aren’t reimbursed – or aren’t reimbursed fully – by your employer. For business travel to conduct business or attend meetings or conventions within the United States, the following are 100 percent deductible: Hotel…
The Risks of Growing Your Business Too Quickly
Growing your business is a good thing, right? It can be, but growing a business too quickly can be fraught with complications. As with most challenges facing businesses, some planning and preparation can help minimize the issues. Think about what “growing your business” might entail: Adding new products Bringing on new suppliers Engaging new customers…
Accuracy on Form 990 Essential
Preparation of Form 990, Return of Organization Exempt from Income Tax, is an annual exercise for nonprofit organizations in completing the 12-page form – plus related schedules. The form provides financial, governance and operating information about the organization not only to the IRS but to the public as well. The return was last redesigned in 2008 to…
Fraud Prevention Checklist Outlines Business Needs
You may not think your business is a victim of fraud, but it could be – now or in the future. The typical organization loses 5 percent of its revenue to fraud each year. The following checklist was developed by the Association of Certified Fraud Examiners to help organizations learn what fraud prevention measures they…
Inheritances: The Dilemma of Wealthy Parents
Billionaire Warren Buffett – who is giving most of his fortune to charity – has famously said about the rich leaving money to their children: “Give them enough to do anything, but not enough to do nothing.” Wealthy parents today have varying opinions about when, how much and if they should leave their money to…
Residents of Some States More Stressed Than Others
Two of five American feel a lot of stress, particularly those living in West Virginia, Rhode Island and Kentucky. Residents of Hawaii, however, have the lowest stress levels in the United States, by a substantial amount. That’s according to recent Gallup interviews with more than 350,000 people nationwide as part of the Gallup-Healthways Well-Being Index….
Where Do Development Directors Fit in Nonprofits?
Development directors, for the most part, are not happy campers. Especially those at small nonprofits. This fact and the reasons behind it are included in the findings of a recently released national survey conducted by CompassPoint and the Evelyn and Walter Haas, Jr. Fund. The survey was launched because of the nonprofit sector’s widespread concern…
How to Choose a Financial Expert for Litigation Support
Is your client in a dispute with a fellow shareholder? Or a party to a contentious dissolution? Does your client suspect an organization has been a victim of fraud? When the threat of this type of litigation looms, you need an expert to assist you and your client. Involvement in a litigious situation is no…
Only 60 days to Redistribute IRA or Face Penalty
A recent IRS ruling serves as a reminder to investors who plan to roll over funds from an IRA. Do it within 60 days. By law, a distribution of a traditional IRA is subject to income tax plus a 10 percent penalty if it is withdrawn prematurely. But there is no penalty if the distribution…