Resolving Worker Classification Issues
In September of this year, as part of the “Fresh Start” initiative, the Internal Revenue Service launched a new program that will enable many employers to resolve past worker classification issues and get into compliance under the tax law at a low cost by voluntarily reclassifying their workers. “This settlement program provides certainty and relief [...]
Is Your Nonprofit Transparent?
There was a story in the news about a nonprofit in Missouri that refused to provide financial information upon request. The organization claimed that it was not legally required to do so more than once a year. Complaints flowed into the Attorney General’s office, and the nonprofit was investigated. The investigation returned no evidence of [...]
Under-Used Tax Incentives
As 2011 winds down, it’s a good time to review tax incentives and see how they might benefit your business. There are a couple tax incentives frequently under-utilized by business that may be of use your company’s bottom line. According to the IRS, many small businesses are overlooking the Code Sec. 45R small employer health [...]
Nonprofits – Easy Targets for Fraud?
The nonprofit sector is a victim of $85 billion in estimated annual losses due to fraud. In fact, the nonprofit sector is often more susceptible to fraud and abuse than many for-profit organizations. Last year, the president of the Philadelphia Seaport Museum was imprisoned for diverting more than $3 million in funds to maintain a [...]
Year-End Contributions
A common question we are asked by nonprofits is how to handle contributions at the end of the year. A typical scenario is an organization’s fiscal year ends on December 31, but offices are closed from December 31 through January 3rd. The question is: If funds are sent on or before December 31 but not [...]
New QuickBooks Premier Adds Feature Designed for Business and Industry
Intuit has recently released QuickBooks Premier 2012, which has all the features of QuickBooks Pro, plus advanced reporting and tools tailored to the needs of business and industry. With Premier, you can view customized sales and profitability reports, run “Cost to Complete Job” reports, and more. Additional features of QuickBooks Premier include: Allows up to [...]
Top Ten Startup Mistakes…that Almost Always Lead To Business Failure
By Dan Lacy, President and Founder, Dynasty Business Building Many startup ideas fail to ever be launched and many, many fail within the first year or two. In most cases, the failure has nothing to do with the business idea, but how the business side is handled. The business of entrepreneurship is business first, then [...]
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