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Nonprofit Accounting Basics
Most organizations include some paid time-off in their benefits packages offered to employees.
It is usually a requirement to bond employees that handle cash or other ready assets (stock certificates, etc).
Before you can determine how to treat payments you make for services, you must first know the business relationship that exists between you and the person performing the services.
Below are the instructions and sample of Federal Form W-2.
In many areas, local governments at the county or township level may have an income tax in addition to the state withholding tax. The amounts of these local taxes vary widely from state to state.
The recently enacted Patient Protection and Affordable Care Act contains several major changes to the Form 1099 reporting requirements which will impose a substantial paperwork and record-keeping b
The IRS recently announced some interesting news relating to the treatment of independent contractors: a voluntary program now provides an opportunity for taxpayers, including exempt organizations,
Many employers outsource some of their payroll and related tax duties to third-party payroll service providers.
The IRS will be selecting 500 nonprofit organizations for payroll audits in each of the next three years (as well as a high number of for-profit companies).
Taking the time to properly create and maintain your personnel files will pay off in the long run.
Your company’s compliance with U.S.
The rules for nonprofit sales/use tax vary considerably from state to state.
The Volunteer Protection Act of 1997 provides personal immunity to individuals who act on behalf of an organization in a volunteer capacity.
Payroll Tax: Withholding of employee state income tax is a requirement in most states with an individual income tax.