Nonprofit organizations with 501(c)(3) status may be exempt from federal (and possibly state) income taxes. However, this does not mean that these organizations cannot be audited by the Internal...
When manufacturing companies optimize their processes, it is a win-win proposition for the Company and the consumer. In addition, adoption of robotics can increase workplace safety for employees by...
It is very common for families to pay for the costs associated with caring for children, family members and other dependents. However, there are plenty of tax deductions, credits, and other...
Employers that sponsor EBPs must ensure that they comply with federal laws enforced by the IRS and the U.S. Department of Labor (DOL). The government uses Form 5500 to collect information about EBPs...
In September 2023, the Department of Labor (DOL) proposed new regulations under the Fair Labor Standards Act of 1938 (FLSA). The proposed changes will have far-reaching impacts on many businesses...
Many business owners may be aware of pass-through deduction but lesser of them may realize that they can utilize eligible retirement contributions to potentially gain a huge tax advantage on...
Have you ever questioned what expenses you can write off after paying for a business lunch or providing food for an office meeting? Maximizing tax deductions while avoiding potential issues with tax...
Federal tax credits are designed to reduce tax burdens for certain expenses, and there are many potential tax credits for which a person or business may be eligible.
Nonprofit organizations must often look for creative ways to optimize resources and cut costs, particularly in today's challenging economy. One potential way in which many nonprofits are doing that...
The board of a nonprofit organization has tremendous responsibilities. Board members should ardently support the organization’s purpose, but zeal is not the only important quality. Diversity among...