Month: November 2022
Like tax breaks? You’ll love this. Tax deductions based on depreciation are useful for any business, especially those in transportation, distribution, logistics and manufacturing, where companies regularly invest in equipment and other property. But what if you didn’t have to wait years for your deduction? What if you could take advantage of your entire tax-break upfront? With accelerated depreciation, you can.
A ‘basis of accounting’ is the methodology used to recognize revenues and expenses on financial statements. And because financial statements are a way for stakeholders to gage the financial health of the organization, nonprofits need to carefully consider which accounting basis they use and how that could change the financial statement.
Cryptocurrency has grown rapidly in recent years, prompting nonprofits to consider accepting cryptocurrency donations. In this article, we’ll discuss the advantages to accepting crypto, and what nonprofits need to know about getting started.