New Lease Accounting Standard: What does a private company need to know?
Changes to the accounting standards, ASC 840 to ASC 842, will be changing the way leases are presented on the financial statements. Read more by clicking above.
When Does it Pay to Outsource Your Bookkeeping?
Bookkeeping is an essential component of any company, including nonprofits. Is it better to have in-house bookkeeping, or to outsource? Read more about how to make this important decision.
How to Form a Nonprofit in North Carolina
There are several action items to complete to ensure you are following all laws and regulations to set up a nonprofit in the state of North Carolina. Read more about the steps you should follow.
IRS Announces 2023 Pension Plan Limitations
The Internal Revenue Service announced the cost of living adjustments (COLA) for tax year 2023. These adjustments affect various limits for retirement savings plans. Click here for more information.
Are You Withholding The Right Amount For Your Taxes?
Taxpayers should review their income tax withholding amount periodically, or when there is a major life event that could significantly impact their tax return. Click above to learn more.
Storing Your Tax Records
There are guidelines that you should follow to help you decide which tax documents can go and which should stay in your files. Click on the article above to read more about the guidelines.
Volunteers: Rewards & Risks
Volunteers are an integral part of many nonprofit organizations. Volunteers are typically one of the biggest sources of support, and this comes with both rewards and risks to the nonprofit organization. Click above to learn more.
Should a Nonprofit Accept ALL Donations?
As a nonprofit, donations are vitally important, both from a revenue standpoint and for nurturing donor relationships. But should you accept ALL donations extended to your nonprofit? Read more by clicking above.
Raffles – What You Need to Know
Each state has legislation regarding the number of allowed raffles and the limits for the value of raffle prizes. In North Carolina, raffles are limited by law to four per year for a nonprofit organization. Read more by clicking above.
IRS Announces Standard Mileage Rate Increase Beginning July 1, 2022
Due to the recent surge in gasoline prices, the Internal Revenue Service (IRS) has revised the optional standard mileage rate, increasing it by 4 cents for the remainder of 2022. Click above to learn more.