CPA services for nonprofits: a comparison of service and cost

Posted Leave a commentPosted in Accounting, nonprofit

Nonprofit organizations in the United States are sometimes required to engage a Certified Public Accountant (CPA) to prepare financial statements for presentation to state regulators and to the public. The specific requirement varies by state and depends primarily on the size of the nonprofit organization. Three levels of financial statement services offered by CPAs: Audits, […]

Prepare now for market correction and recession

Posted Leave a commentPosted in Financial Planning, nonprofit

There are growing indications that the investment markets and the overall economy have reached short-term highs and that we might soon headed into a period of market correction and possibly even recession. I am not interested in or attempting to ‘time the market’ not do I pretend to have any ability to make such a forecast. […]

Limitations on free tax preparation for 2016 returns

Posted Leave a commentPosted in Accounting, Affordable Care Act, Employee Benefits, Health Insurance, immigration, nonprofit, Taxes

Each tax season I am pleased to prepare some individual tax preparation services for n fee except the filing fee. My online filing service provider’s fee is $20 per return so the tax filer must cover this cost. My offer is usually made to a small number of middle income neighbors as a way to promote my […]

Reduce your income taxes in 2017

Posted Leave a commentPosted in Employee Benefits, nonprofit, Tax Planning

Tax shelters and strategies that go beyond basic tax planning An accountant shared a story with his peers of a client who called recently to say “This year I really want to do whatever we can to slash my tax bill and pay the minimum”. The accountant replied “What do you think we’ve been doing […]

Save your nonprofit now!

Posted Leave a commentPosted in nonprofit, Taxes

I learned a simple but extremely valuable lesson yesterday that will be useful for managing nonprofit businesses, thanks to NJCPA nonprofit conference and presenter Robert Lyons, CPA. Many nonprofit organizations experience “mission creep” over time. That’s not a bad thing. Usually it is in response to changing real world conditions. It simply means that the […]