Author: Courtney Healy

Reporting Expenses

For the past few years, the IRS has required nonprofits to report expenses in two ways: naturally and functionally. We compare these two categories, explain how to allocate costs, and hopefully make filing your next 990 a little easier.

  • Posted in Non-Profit
  • Comments Off on Nonprofit GAAP Guide: Reporting Expenses by Function vs. Nature
Volunteer Labor

If an organization misclassifies an individual as a volunteer, they can face back taxes and hefty penalties. Here are some helpful tips for staying on the right side of labor and tax laws.

  • Posted in Non-Profit
  • Comments Off on The Do’s and Don’ts of Volunteer Labor  
ERC Credit

The IRS is warning businesses to avoid solicitors making big promises about the Employee Retention Credit (ERC). Learn how to spot suspicious promoters and protect your business.

tax exempt status

To stay tax-exempt, 501(c)(3) organizations must pass two annual exams: the Organizational and Operational Tests. Let’s talk about what these tests are, why some nonprofits fail them, and how you can ensure your organization passes.

  • Posted in Non-Profit
  • Comments Off on Keeping Your Tax-Exempt Status is Almost as Easy as Losing It.