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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IRS Relaxes FSA and DCAP Rules
The IRS is providing some leeway to employee benefit plans offering health flexible spending accounts (FSAs) ...
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How Nonprofits Should Handle Tax Form 990
Form 990, Return of Organization Exempt From Income Tax, is the IRS’ method of evaluation to ...
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Hidden Tax Break: Meal Deductions Get a Boost
The Consolidated Appropriations Act, 2021 contained a provision designed to give a boost to the restaurant ...
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COVID-19 Resource Guide: Everything You Need in One Place
Office Updates While BPW is categorized as an essential business due to the importance of tax ...
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BPW Moves Forward with April 15 Deadline
The IRS and California Franchise Tax Board recently announced that the income tax filing deadline for ...
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New Stimulus Package: What You Need to Know
The third stimulus package valued at $1.9 trillion made its debut last week after President Biden ...
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Erroneous Notices from the IRS and States
Many clients have received CP59 Notices notifying them about missing Forms 1040 for the tax year 2019. In ...
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New Benefit Plan Auditing Standards Effective Date Extended
Another pandemic-powered delay is pushing the effective date back for new standards related to audits of ...
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To Port or Not to Port: Is Filing for Portability Right for You?
The option of portability when planning your estate could make a substantial difference come tax time, ...
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Top 10 Ways Accounting Services Can Grow Your Business
Any successful business will tell you that having excellent accounting is the secret ingredient to growing ...
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Update on Coronavirus Relief Programs
New Tax Relief & Grants will Support Businesses Impacted by COVID-19 As businesses and taxpayers continue to feel ...
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IRS Introduces the New Form 1099-NEC
The IRS has introduced a new Form 1099-NEC, Nonemployee Compensation. It's a sibling to Form 1099-MISC ...
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