Provisions Affecting Individual Taxpayers
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act of 2021. Click above to read more about the provisions affecting individual taxpayers.
Tips for Managing the Grant-Writing Process
While grant-writing can be time consuming, grants can provide a significant amount of funding for your nonprofit organization. Click above for tips that may help your organization better manage the grant-writing process.
Insurance – Are You Covered?
While you can minimize the risks, you can never fully eliminate them, which is why there are multiple types of insurance your nonprofit organization should evaluate. Click above for more information.
Expenses Paid with Payroll Protection Program Loan Proceeds to be Tax Deductible
Congress has developed a new COVID-19 stimulus package that includes income tax relief for Paycheck Protection Program loans. Click to learn more.
Tax Rates 2021
The 2021 payroll tax rates and auto mileage rates have been released. Click above for the complete list of rates.
IRS Announces 2021 Pension Plan Limitations
The Internal Revenue Service announced the cost of living adjustments (COLA) for tax year 2021. These adjustments affect various limits for retirement savings plans. Click here for more information.
Cash Reserves – Are You Prepared?
A cash reserve, sometimes called an “operating reserve,” is just that: cash. Many organizations have been able to continue operating during the coronavirus pandemic due to the reserves they set aside previously. Click here to find out more.
Establishing a Disaster Recovery Plan
When the coronavirus pandemic hit in March, nearly every individual, business and nonprofit organization saw a drastic change in their day-to-day activities. For organizations with a disaster recovery plan in place, many of the obstacles faced had a solution waiting.
NC Charitable Solicitation License Online Filing
Amidst all the changes related to COVID-19, it might be easier for your organization to file its annual NC Charitable Solicitation License online. Click here for steps on how to file.
Donor Advised Funds
A donor advised fund (DAF) is a fund that allows a donor to make contributions and recommend grants to charities of their choice through a charitable sponsor. Check out more here.