Sep 26, 2024 | Firm Updates, Small Business
The Corporate Transparency Act (signed into law on January 1, 2021) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the US Beginning in 2024, many small businesses are required to report information...
Aug 6, 2024 | Firm Updates, News Brief
Donor-Advised Funds (DAFs) are investment vehicles designed to allow individuals to contribute to the Funds and recognize the contribution as a charitable donation in the year it was made. The funds are then managed by advisors and eventually contributed to charitable...
Aug 6, 2024 | Firm Updates, News Brief
In any online environment, there are risks of computer systems being hacked, data being stolen or manipulated, and privacy breaches occurring. Unfortunately, many not-for-profit organizations are woefully underequipped to protect themselves from these attacks due to...
Aug 6, 2024 | Firm Updates
Nonprofit accounting has distinct features compared to for-profit accounting due to the nature and goals of nonprofit organizations. Nonprofits focus more on the accountability aspect of accounting. There is a specific set of rules and procedures regulated by...
Aug 6, 2024 | Firm Updates, News Brief, Tax Tips
There are multiple ways that nonprofit organizations can lose their tax-exempt status, and it’s important for directors, employees, and volunteers to stay informed about what actions could potentially jeopardize the status. With a bit of increased awareness and...
Mar 20, 2024 | Assurance, Firm Updates
Once the audit fieldwork has been completed, the auditors move into wrapping up the audit process and issuing the final reports. Here are some expectations and tips to improve the organization’s audit experience. At the end of the audit week, it may be best to sit...
