The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain … Continued

The Financial Professional’s Role on a Nonprofit Board by Jonathan D. Moll, CPA – Director of Nonprofit Services – was published in the Accounting for Success Column of the Winter … Continued

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

A common area of confusion among organizations is how to handle old outstanding checks on bank reconciliations. Many states have reporting requirements regarding unclaimed property (including uncashed checks). Depending on … Continued

In May 2019, the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) issued Statement on Auditing Standards (SAS) No. 134, Auditor Reporting and Amendments, including … Continued

Nonprofit organizations have two options when purchasing assets with a useful life of greater than one year: expense or capitalize. Assets which are capitalized are referred to as fixed assets … Continued

In September 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07: Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. The purpose of this ASU … Continued

The IRS has an enormous backlog of unprocessed mail, which includes paper returns and extensions, due to the closing of its processing centers for several weeks during the pandemic and … Continued

This week I received a letter in the mail stating my family was automatically enrolled to receive benefits under Delaware’s Pandemic Electronic Transfer (P-EBT) program. Delaware’s P-EBT Program provides food … Continued

Regardless of the individual mission, every nonprofit share a common goal: to raise awareness and funding to propel its mission forward. And, when prospective donors are determining what charity is … Continued