Gifts-in-Kind: New Reporting Requirements for Nonprofits
Nonprofits that receive contributions of nonfinancial assets are subject to new financial reporting rules. Because of…
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Not-for-Profits Now Benefit from GAAP Alternatives
The Financial Accounting Standards Board (FASB) recently announced that it will now extend two of its…
Read this Insight...New Accounting Standard Brings Big Changes to Not-for-Profit Financial Reporting
Not-for-profit organizations will see big changes coming soon to their financial reporting. After years of discussion,…
Read this Insight...IRS Lowers Fees for Tax-Exempt Charity Application
Now there’s a headline you don’t see too often: “IRS Lowers Fees…” It’s true. Effective July…
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Moving Forward with SSARS 21
December 15, 2015 marked an important date in accounting and review standards history. One of the…
Read this Insight...Record Retention Guidelines and Policy Development
Although the topic of recordkeeping, including retention and destruction of records, may appear to be straightforward,…
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The CARES Act: Big Changes to Retirement Plans
Let’s talk retirement planning. How should retirement accounts be handled after the big changes seen in ...
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May 7 Deadline for Big Businesses
The Treasury Department is granting safe harbor to large and public companies that voluntarily return stimulus ...
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The CARES Act: An Overview for Individuals
The CARES Act provides some big wins for individual taxpayers who are in need of an ...
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The CARES Act: An Overview for Businesses
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March ...
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Income Tax Relief in Response to COVID-19 Outbreak
On March 20, 2020, the IRS extended the federal tax filing deadline to July 15, 2020, ...
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Reporting Requirements for Video Game Currency
Amid school and business closures, some gamers may be increasing their screen time and raking in ...
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IRS Released Guidance on Meal and Entertainment Expense Deductions
In recently-proposed regulations, the IRS states that, in general, taxpayers can deduct 50% of the ordinary food ...
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Is a Donor-Advised Fund Right for You?
Donor-advised funds (DAFs) have grown in popularity over the past decade. According to the National Philanthropic Trust ...
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The SECURE Act: Key Takeaways and Strategies to Consider
Over the past few years, we have seen some of the greatest shifts in tax legislation. ...
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Tax Tips for Law Firms
Whether you're a partner or an associate in a law firm, the IRS has rules that ...
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Tax Deductions from Land Donations Under Scrutiny
The IRS announced that they will be keeping a watchful eye on certain land donation deals ...
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IRS Establishes No Clawback Rule on Gifts and Estates
‘Tis the season for giving! In a recent announcement, the IRS presented the highly-anticipated final regulations ...
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