Is your not-for-profit overpaying unemployment tax? Many employers are and don’t know it. Here’s how to find out and possibly reduce unemployment costs. Ensure accuracy The burden is on employers to ensure unemployment charges are accurate and to seek repayment if they believe they’ve been overcharged due to errors. First, make sure you’ve kept the […]
Most individuals have a misconception that only owners or officers are held responsible for a company’s tax compliance. However, over the last several years, states have taken the definition of responsible person to another level to include other individuals, like employees, and have enforced that definition in order to help collect taxes, penalties, and interest. […]
An operating reserve is an unrestricted and relatively liquid portion of a not-for-profit’s net assets. Securing this reserve for use in emergencies or simply when your budget falls short is critical to your organization’s security and long-term survival. Long-term effort Building an adequate operating reserve takes time and should be regarded as a continuous project. […]