BLS Insights

In August 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-14, Not-for-Profit Entities, with the intent of providing more useful information to donors, grantors, creditors, and other users of not-for-profit (NFP) financial statements.

The cost of education continues to rise each year so it is helpful to be aware of some programs that allow parents to save for the cost of their children’s education.

Last December when Congress passed the Protecting Americans from Tax Hikes Act of 2015, or PATH Act as it is more commonly known, many tax provisions were impacted.

Charities and nonprofits love to receive donations, but many face challenges when they get noncash contributions, or “gifts in kind.”

Alimony is a payment made to a former spouse under a divorce or separation agreement.

In accordance with President Trump’s executive order calling on agencies to ease up on ACA (Obamacare) regulations, the IRS made changes whereby it will not reject a 2016 tax return for processing just because the taxpayer does not indicate their coverage status in Box 61.

If your kids have been begging you for money and you need a little extra help running the family business, it may be beneficial to the whole family to start putting them to work after school or during the summer.