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.
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.
Qualified Plug-In Electric Motor Vehicle Credit
Investing in an electric vehicle can be an effective way to reduce the environmental impact of gasoline emissions and cope with rising gas prices. IRC §30D provides a credit for qualified plug-in electric motor vehicles. Click above to learn more.
Update on North Carolina Pass-Through Entity Tax and 2022 Estimated Tax Payments
For tax years beginning after 2021, partnerships and S Corporations can make a Pass-Through Entity Tax (Taxed PTE) Election to pay North Carolina income tax at the entity level creating a deduction against pass-through federal income. Click above to find out more.
Why Do Donors Give?
A nonprofit organization typically relies heavily on its donors to operate on a daily basis. Therefore, it is important for a nonprofit to have an understanding of why donors give to organizations. Click above to learn more.
Thankful? Let Your Donors Know!
Many nonprofits rely solely on donations from the community to fund the continuation of the organization. It is very important for your organization to acknowledge their donations for many reasons. Click above to learn more.
The Current Operations Appropriations Act of 2021
On November 18, 2021, North Carolina State Governor, Roy Cooper, signed the Current Operations Appropriations Act of 2021 (the Act). Click to learn more.
The Infrastructure Investment and Jobs Act
On November 15, 2021, President Joe Biden signed the Infrastructure Investment and Jobs Act (the Act), a $1.2 trillion bipartisan legislation intended to “build back better” the country’s infrastructure. Click to read more.