Category: Nonprofit
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Tax deduction for contributed time or services
I’ve often had the opportunity to work as the volunteer accountant, trustee or adviser for some great charitable organizations. In the course of this work, I meet plenty of other like-minded generous people. One amazingly common misperception that many of these people share is a misunderstanding of the tax treatment of donated time or services.…
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Even small nonprofits can benefit from online accounting
Since the early days of online accounting, I’ve preached that some of the obvious beneficiaries of this technology are nonprofit groups. One primary advantage is decentralization of information. In the past only the Treasurer might have had access. Board members might be updated at periodic meetings. Now all board members with access to the online books…