Nonprofit board members, trustees, volunteers, and paid staff are the foundation for building a lasting organization to advocate your cause. Running a nonprofit requires planning and understanding of the tax benefits for the organization. When meeting all of the IRS guidelines, most nonprofits are exempt from state sales, property, and income tax. The nonprofit must […]
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New Rules in 2018: Partnership Audits
Every year, changes to the upcoming season affect the way you commence business on a daily basis. The significant changes for 2018 are part of the Bipartisan Budget Act of 2015 (BBA). Passed by the Congress, the BBA greatly effects the rules for partnership audits. The 2018 changes for partnerships may actually increase the number […]
Small Broker Dealer Firms: Audit Tips
The word audit immediately brings a sense of dread to your small broker dealer firm. Do not worry, rather, take action. Being prepared is the best way to handle an upcoming audit. The standards of the audit must meet all the criteria set by the Public Company Accounting Oversight Board (PCAOB). Protecting the rights of […]
How to Choose a Tax Return Preparer
Tax return preparation is a complicated and lengthy process. That’s why so many people decide to hire a professional tax return preparer for assistance along the way. But how do you choose the right one? Since you are the only one who is legally responsible for filing your proper and accurate tax return, it is […]