The Importance of Timely Delivery of SBA’s Required Financial Statements for 8(a) Government Contractors
For small businesses operating as 8(a) government contractors, adhering to the Small Business Administration’s (SBA) requirements is imperative. Among these requirements, timely delivery of financial statements holds significant importance. It serves as a cornerstone for effective financial management, regulatory compliance, and long-term business success.
Four Midyear 2023 Tax Planning Tips for Small Business Owners
Mid-July isn’t just for barbeques and baseball. It’s also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming there won’t be any changes to current federal tax laws at least through 2024. 1. Establish a Tax-Favored Retirement Plan…
Six Ideas for Lowering Your Personal 2023 Taxes
Although summer is a time for vacations and relaxing in the backyard, you can’t afford to take a break from managing your tax bill. Now is a good time to think about proactive moves that could cut your 2023 tax liability. Here are six ideas for individual taxpayers to consider, assuming the current federal tax…
Tax Considerations of Earnouts when Buying or Selling a Business
Merger and acquisition (M&A) activity is widely expected to pick up this year, after a lull in 2022. Amid economic uncertainty, earnouts are likely to play a big role in many deals. The structuring of such transactions could have significant tax implications that affect the ultimate value for both parties. The Basics Earnout provisions generally…
Risk Management: 8 Ways to Reduce Business Insurance Costs
How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the unexpected happens. However, higher spending doesn’t necessarily equate to better coverage. Rather than focusing on just the price, it’s important to match insurance products and coverage levels with your business’s…
How ERM Helps Organizations Navigate Their ESG Journey
ESG (Environmental, Social, and Governance) frameworks provide a sustainable approach to doing business. Existing ERM tools can help support these efforts.
Federal Gift and Estate Tax Breaks due to Inflation
Inflation is generally bad news, however; it does bring tax breaks in the form of bigger annual inflation adjustments. In fact, many federal tax parameters for the 2023 tax year are up about 7% over the amounts for 2022. Here are the details — plus inflation-adjusted estimates for the 2024 tax year to tide you…
Considering Blackbaud? 9 reasons why Sage Intacct is a better choice
Prepare to be amazed as you explore the compelling advantages of Sage Intacct over Blackbaud. From groundbreaking features to unparalleled scalability, this game-changing resource will revolutionize your organization’s financial management. Are you ready to embrace the future of success? Delve deeper into the details and view more by clicking the link below. View Now
2023 Nonprofit Technology Trends Report
Discover the 2023 annual Nonprofit Technology Trends Research Report, offering valuable insights into the evolving nonprofit sector. With reflections from over 600 nonprofit finance leaders, this report highlights key trends and challenges faced by organizations. Explore technology engagement, financial strategies, and industry shifts, gaining valuable perspectives on the road ahead. As the world adjusts to…
Ins and Outs of Private Foundations
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created…