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Notes from your CPA: New tax law requires strategic refresh for nonprofits

06-13-2019

by Kyle R. Evans, CPA Tax experts agree: adjusting to new accounting standards and the effects of the 2017 Tax Cuts and Jobs Act can make the nonprofit world more confusing – and challenging. That’s why it’s essential for a CPA or other financial adviser to serve as your nonprofit’s partner and guide year-round to […]

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by David J. Manbeck   You love your job with a nonprofit organization. You believe strongly in the good work you do every day. But there’s one part you do not love — the annual audit. Pennsylvania statute says charitable nonprofits with contributions of at least $750,000 must undergo an annual independent audit by a […]

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by Edward J. Straley   In June 2018, the Financial Accounting Standards Board culminated a four-year review with new rules for revenue recognition by nonprofits. While the new standard, known as ASU 2018-08, did not substantially change the way that nonprofit organizations identify and report revenue, it did clarify the standard rules and provided better […]

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By David J. Manbeck No matter the mission of a charitable organization, those running it share a common trait: They became involved in the nonprofit world out of a desire to do good. But some organizations focus so much on the mission that they neglect the “taking-care-of-business” side of running a nonprofit.  If they’re not […]

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By David J. Manbeck, CPA and Donna M. Mullin, J.D., CPA Effects of the 2017 Tax Cuts and Jobs Act on nonprofit charities may boil down to a straightforward question: Why do people donate as much as they do? Some nonprofits are nervous that an increase in the standard deduction may mean a decrease in […]

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The Department of Labor identified no exceptions for nonprofits or charitable organizations. With the overtime rules taking effect Dec. 1 — midway through the fiscal year — it will likely require many nonprofits to reexamine their budgets and how they are allocating resources.

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