The Secure Act 2.0 was part of the omnibus government funding bill passed at the end of 2022. There are many provisions of this act that are intended to encourage Americans to save more for retirement, but it also means that every business has compliance requirements to begin considering. There are two and a half…
Most businesses know that Form 1099 NEC (non-employee compensation) is required for services over $600. However, in 2021 the American Rescue Plan Act included a provision to require Form 1099-K for all funds transfers on sites like Venmo, PayPal, eBay, and Etsy. Form 1099-K had previously only been used for significant amounts of credit card…
By now you have probably heard of the bank collapse of Silicon Valley Bank and the subsequent shut down of an additional California bank. Moody’s Investors Service has put six other US banks on review for potential downgrades. What do you need to do as a consumer? For most consumers, the answer is don’t panic!…
Working from home is here to stay. What does that mean for you as an employer? What does it mean for your employees? While remote working might be a simple task if all your employees are in the same state as your business there are implications you should consider as you develop your remote working…
According to the Nonprofit Times, only 41% of not-for-profits have whistleblower policies. Perhaps nonprofit leaders believe their organizations are too small or collegial to worry about illicit activities — let alone people reporting them. Or perhaps a whistleblower policy seems like one more thing that requires time and money they don’t have. This is a…
How committed is your not-for-profit organization to benchmarking? Perhaps you think it makes sense in the for-profit sphere, but not as much for charities and other nonprofits. If so, you’re probably missing out on benefits — including long-term sustainability. Here’s how to overcome reluctance and learn to love benchmarking. True impact Even if your staff…
Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit. So it’s important to work with your CPA to make sure your footnotes are accurate and thorough. Operations and accounting policy snapshot One important set…
“Accountability” may seem like one of those popular management concepts you know would be nice to implement if your not-for-profit had the time and budget. But not only is accountability essential to your nonprofit’s health and efficacy — affecting everything from donations to grants, hiring to volunteering, board fiduciary duty to employee morale — it’s…
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