Emergency Funding for Nonprofits: Part 2
Our series continues with more sources for nonprofits to tap for generating revenue in emergency situations. The best bet for a not-for-profit organization is to combine ideas for a comprehensive response. Funding sources like to know they’re not the only avenue you’re pursuing. Working sources simultaneously may lead to an even more successful result. Consider [...]
IRS Increases Mileage Rate Effective July 1, 2011
The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles [...]
Federal Unemployment Rate Change Effective July 1, 2011
Congress has announced that the 0.2% FUTA surcharge will not be extended before June 30, 2011. Employers have been required to pay a flat rate of 6.2% on the first $7,000.00 of each employee’s annual wages for FUTA. The 6.2% FUTA rate included a temporary 0.2% surcharge that was first added in the 1970’s. The [...]
Emergency Funding for Nonprofits: Part 1
With the continued uncertainty of these economic times, it’s critical for nonprofits to have an action plan for continued revenue. If your nonprofit finds itself short of cash, it will typically need a revenue source that can be accessed quickly—usually within 30 days. In this two part series, we will cover some emergency funding options [...]
Creating Your First Small Business Budget
When you decided to start your small business, you may have been overcome with excitement to finally get to pursue your passion and share it with others. No longer would you have to work for someone else at a job you may have only taken out of necessity. Now you could spend every single day [...]
12 Signs Your Nonprofit is Financially Healthy: Part 1
Assessing the financial health of your nonprofit is not as easy as just viewing the balance sheet at year-end. Sure it’s easy to say the nonprofit is a picture of health if it has a surplus, plenty of reserve cash in the bank and a large endowment. Unfortunately, the majority of nonprofits do not have [...]
A Bookkeeper’s Tips for New Business Accounting, Part 2
Part two of our series on bookkeeper’s tips will help to keep your new business’ finances simple and manageable. The first tip is one that may depend on your particular situation, but the second one is a tip that all businesses should follow. Don’t Incorporate (this depends on your individual situation) Your taxes and accounting [...]
A Bookkeeper’s Tips for New Business Accounting, Part 1
There are a million things going on at once when you start a new business. The last thing you need is to complicate your finances. When you are first starting out, the best thing to generally do is to keep your small business accounting clean and simple. As the first of a two-part series, here [...]
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