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Even though the deduction for donations is unchanged, you still need to itemize to claim it, and that's a much higher bar with the now nearly doubled standard deduction. Continue Reading
Four key provisions in the law known as the Tax Cuts and Jobs Act have significant ramifications for not-for-profits. Learn more in this podcast. Continue Reading
These best practices will help smaller organizations with limited resources implement the most significant changes to not-for-profit financial reporting in 25 years. Continue Reading
A proposed guide published by the Governmental Accounting Standards Board would provide state and local governments with questions and answers to guide implementation of the board's new standard on accounting for fiduciary activities. Continue Reading
Under a proposal issued by the Financial Accounting Standards Board, not-for-profits would be able to take advantage of private-company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination. Continue Reading
Parking benefits that nonprofits, such as churches and synagogues, offer employees are taxable as part of the Tax Cuts and Jobs Act. Here is a closer look at the tax and a sample method for determining how much a nonprofit might have to pay. Continue Reading
The Internal Revenue Service today issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. Continue Reading
The IRS has launched an easy-to-use webpage, IRS.gov/taxreform. Continue Reading
The Government Accountability Office's Government Auditing Standards have been revised. Key changes were made to the format, auditor independence rules and CPE guidance. Continue Reading
This article discusses what municipalities can do to prevent embezzlement and what CPAs and auditors can do to assist them. Continue Reading