Restricted gifts — or donations with conditions attached — can be difficult for not-for-profits to manage. Unlike unrestricted gifts, these donations can’t be poured into your general operating fund and be used where they’re most needed. Instead, restricted gifts generally are designated to fund a specific program or initiative, such as a building or scholarship […]
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. […]