Coming Soon: Presidential Election and Shifting Tax Policies

Ryan J. McDonell, CPA, MSLT, MSA Tax Manager As America nears the 2024 presidential election, tax policy has taken a prominent spot in national discussions. Though neither Vice President Kamala Harris, Democrat, nor former President Donald Trump, Republican, have...

Deadline imminent for filing BOI reports

Time is running short for businesses to file their Beneficial Ownership Information reports with the U.S. Treasury Department. The deadline for filing the BOI report is December 31, 2024, for companies that were created before January 1, 2024....

Failing the Public Support Test: Process and Consequences

Linda J. Kramer, CPA, MBA Accounting & Auditing Director The Public Support Test is a critical measure used by the IRS to determine whether a nonprofit organization qualifies as a public charity rather than a private foundation. This test ensures that the...

Think ahead to your nonprofit’s next Form 990 to avoid pitfalls

Sean S. McNeil, CPA, MBA Accounting & Auditing Manager Assuming your organization operates on a calendar-year tax basis and filed its Form 990 on time this year, you probably don’t want to think about tax reporting again until next spring. However, it’s important...

Taking action in response to audit findings keeps nonprofits on track

Jayme F. Moore, CPA Vice President & Director External audits can help assure your nonprofit’s stakeholders that your financial statements are fairly presented according to U.S. Generally Accepted Accounting Principles. They can also help prevent occupational...