Help ensure your partnership or LLC complies with tax law When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are… Read More
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When your nonprofit’s debt-financed income is subject to tax
When your nonprofit’s debt-financed income is subject to tax If your nonprofit has investment income, dividends, interest, rents and annuities, they’re generally excluded when calculating unrelated business income tax (UBIT). However, income from debt-financed property typically is taxable. So it’s important… Read More
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2024 Q2 tax calendar: Key deadlines for businesses and employers
2024 Q2 tax calendar: Key deadlines for businesses and employers Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so… Read More
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Welcome charitable pledges — and account for them properly
Welcome charitable pledges — and account for them properly The difference between financial pledges and donations is relatively simple: Pledges are promises to donate sometime in the future, and donations provide immediate support for your not-for-profit organization. What’s not so… Read More
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Cross-training initiatives can get your whole organization in shape
Elite athletes train hard to perfect their performance in a particular discipline, but they also cross-train. For example, a sprinter might, in addition to running for hours, lift weights, swim and cycle. By strengthening all major muscle groups, athletes can… Read More
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6 key elements of a business budget
6 key elements of a business budget Every business needs a budget, but not every budget looks the same. Some companies have intricately detailed ones, others rely on simple templates generated with off-the shelf software, and still others forego formal… Read More
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Reasons an LLC might be the ideal choice for your small to medium-size business
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. It… Read More
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6 tax-free income opportunities
6 tax-free income opportunities Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without current federal income tax implications: Roth IRAs offer tax-free… Read More
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Fundamental differences between nonprofit and for-profit accounting
Fundamental differences between nonprofit and for-profit accounting You may know the difference between nonprofit and for-profit accounting systems, but do your newest employees and board members? Not-for-profits and businesses share certain similarities. For example, both must carefully track transactions and… Read More
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Brand audits can help companies in a variety of ways
Brand audits can help companies in a variety of ways A strong brand can help boost revenue, while a weaker one may reduce sales opportunities and stifle growth. Like many business owners, you’ve probably spent considerable time and energy crafting… Read More