Government Contractors that execute cost reimbursable contracts or other contracts that invoke the Allowable Cost and Payment Clause (FAR 52-216-7) are required to submit its Incurred Cost Proposal submission within six months after the the completion of the accounting year. For calendar year contractors the due date is June 30. If you have questions about this submission […]
The tax filing deadline has come and gone. If you didn’t file a tax return or an extension, but should have, you need to take action now. Here are some tips to help you: There is no penalty for filing a late return after the tax deadline if a refund is due. If you didn’t […]
Many students take a job in the summer after school lets out. If it’s your first job, it gives you a chance to learn about the working world. That includes taxes we pay to support the place we live, our state and our nation. Here are eight things you should know about taxes: Don’t be […]
Forming audit committees is becoming a more common practice in the nonprofit sector, offering an unbiased outlet to monitor the financial health of an organization. Audit committees ensure that the leadership team is effectively following internal and external auditing protocols, and that the organization’s financial reporting practices are objectively reviewed on a regular basis.
Fifteen members of Forbes Real Estate Council share some of the things real estate investors commonly overlook before closing on a property that can mean bad news down the road. Here’s what you can do differently.
One little-discussed change in the new tax law is the broad changes to code section 1031 and the impact it will have on your clients who own collectibles. While the changes in the rules for personal property under §1031 will limit many collectors, they don’t mean all sellers will now have to realize tax on sale.
Whether determining how financial resources are spent or raised, clarifying organizational priorities, or building leadership—in many ways, finance determines mission success and impact. The successful fulfillment of these roles—the Builder, Strategist, and Cultural Trendsetter—hinges on understanding the nonprofit’s needs, aspirations, and impact.
Out of 50 top government information technology contractors, 49 aren’t completely securing their email systems against spoofing and phishing attacks. Government contractors should shore up their defenses and adopt DMARC to protect their government clients, with whom they exchange email.
You’ve opened the mail and your heart sinks. Your business just received an audit notification from the IRS. Click through to learn how to keep your cool and prepare for what happens next.
Have you thought about the insurance your small business might need? Whether it’s a one-person outfit you run out of your home or a family corporation with dozens of employees, you need to protect yourself and your company. Review the following list to see what might apply to you. General liability insurance — Even for home-based […]
A deferred annuity is a contract between you and a life insurance company. Funds are exchanged for a promise to provide a competitive rate of interest with a minimum interest rate guarantee while guaranteeing the principal investment as well. The benefit payments don’t start until perhaps 10 or 20 years down the road. The longer […]
All mergers are different, and at times the end goal of setting up a new company that results from the merger is front and center in one’s mind. Joy and pure excitement come at closing the deal, but if this is a family business, a mixed bag of emotions follows fast. You may have grown […]
If you’re self-employed or have income other than a salary, you may need to pay estimated taxes to square your tax bill. Click through to see whether you need to make estimated tax payments every quarter.
Public trust is foundational to nonprofit organizations’ sustainability. Left unmanaged, risks can result in all sorts of losses: donors, employees, members, patrons and grants. Often, it’s not until a critical event occurs that risk management moves up the priority list. Read about risk management in our Nonprofit Newsletter.
State, local and education, or SLED, governments are increasing the number of bids and requests for proposal at a “historically strong pace over the past year.” Click through to view the top 10 “hotspots” with the greatest rates of recent growth.
The new tax law brought welcome news for people who rent out their homes for short periods. And it likely will entice even more people to do it. Here are some ways short-term landlords could benefit.
The Tax Cuts and Jobs Act has changed the dynamics of our finances and the profitability of investments. While much of the press coverage around the new rules has been on its drawbacks, there exist some positive financial opportunities for those who educate themselves and act on new breaks. Read about it in our newsletter.
Real estate remains a very strong investment vehicle, and creative restructuring that takes advantage of the new tax law can be an added bonus in helping improve an investor’s tax situation dramatically. Read more about it.
How often does your nonprofit review its functional expense classifications? For most, it’s been a while. The following will walk nonprofit professionals through that process.
While the new FASB standards officially apply only to the presentation of nonprofit audits, knowing FASB well enough to be innovative in financial reporting is worth a bit of study by all nonprofits. Read more about it.