It’s hard for nonprofit executives to put a price on an audit, for good reason. They are difficult to conduct due to several factors, including the auditor’s time to complete the task, the amount of risk an auditor must assume, […]
The Internal Revenue Service (IRS) doesn’t require nonprofits to have independent audits, but that doesn’t mean your nonprofit never needs an audit. Some federal, state, and local government agencies require audits, as do some banks and foundations. Generally, the requirements […]
Having an independent audit is a significant endeavor. Not only is it an expense, but it also requires a lot of preparation. The auditors will need access to all of the information they need to help them carry out their […]
Identity theft is a complex and evolving threat, and one that costs U.S. citizens billions of dollars annually. Without question, it is one of the most pressing challenges facing our country. Unfortunately, the problem is growing, and fraudsters are always […]
The newly-increased standard deduction gives rise to an opportunity for self-employed taxpayers to hire their children and pay up to the $ 12,000 standard deduction amount. The child does not have to pay income taxes on the money and if […]