Article Archives: 2019

Working for a not-for-profit organization puts mission and meaning front and center for employees every day. However, there can be limiters associated with working at a not-for-profit. A charitable not-for-profit is prohibited from intervening in any political campaign,

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The Taxpayer Advocate Service (TAS), an independent organization with the Internal Revenue Service, recently produced and submitted its Annual Report to Congress, and the separate Objectives Report to Congress.

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There are now several new accounting standards that not-for-profits will need to implement over the next few years. With more likely coming down the pipeline, many not-for-profits are asking for advice to follow when implementing new standards.

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This article was originally published in July 2019. It was updated in March 2021 to reflect new information available.

Under the Tax Cuts and Jobs Act (TCJA) and the CARES Act,

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In late May, the IRS released great news for private schools operating under Code Sec. 501(c)(3). In recognition of the many ways the Internet is a part of everyday lives,

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When the new revenue recognition standard came out, Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), it specifically excluded contribution revenue and investment returns.

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April 21, 2020 update: To provide accounting relief and clarity during the COVID-19 crisis, the FASB published an exposure draft with proposals to delay the effective dates for Revenue Recognition (Topic 606).

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As a family business advisor, I often provide consultations on maintaining family harmony as the family successfully transitions the business from one generation to the next.

Various research has found that only 30% of family businesses transition successfully to the 2nd generation,

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Grace periods are history and, by now, not-for-profit organizations (NFPs) administering federal grants subject to the Uniform Guidance must have procurement policies in place and operating in accordance with them.

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The 2019 Washington legislative session has ended, but it was a busy year in terms of tax related bills. The enacted legislation includes business and occupation (“B&O”) tax increases on certain service businesses and financial institutions,

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