Posted by: Deby MacLeod · Jane Searing

This article originally appeared in Journal of Accountancy. Reprinted by permission. Before deciding whether your not-for-profit organization should accept cryptocurrency for gifts, you must understand what it is. A cryptocurrency, or virtual currency, is a digital medium of exchange that can be used for purchasing, selling, and storing value, but it is not backed by a sovereign government. In […]

Posted by: Rene Schaefer

The Tax Cuts & Jobs Act (TCJA) arrived with significant guidance, setting new rules for entertainment and club dues that every business owner needs to know. Prior to TCJA, meals and entertainment were 50% deductible if not lavish or extravagant and there was a business purpose. Among the 50% deductible items category were event tickets, […]

This is Part One in a short series on preparing to apply for federal grants. To learn more about the policies and procedures you should have in place before applying, see Part Two. Applying for federal grant funding may seem like an intimidating prospect, especially if it is your first attempt, but there are steps […]

Posted by: Mitch Hansen

If you have ever visited the Washington State Gambling Commission’s website, you’ll know how surprisingly complicated raffles can be. There is much more to them than just selling tickets and drawing a winner. To help you stay on the right side of the law, we’ve collected the Do’s and Don’ts of holding a raffle. Eligibility […]

Posted by: Jane Searing

The IRS issued Notice 2018-99 on December 10, 2018, clarifying some of the unanswered questions arising from the 2017 Tax Cuts and Jobs Act (TCJA) changes regarding the nontaxable qualified transportation benefits provided to employees. Changes impact taxable and tax-exempt employers. Many of the questions were related to the costs of providing qualified transportation benefits. Of […]

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