Do you want to control costs and improve delivery of your not-for-profit’s programs and services? It may not be as difficult as you think. First, you need to know how much of your nonprofit’s expenditures go toward programs, as opposed to administrative and fundraising costs. Then you must determine how much you need to fund
Ellenbogen
Jun 25, 2019
Is your nonprofit monitoring the measures that matter?
- By Ellenbogen
- Non-Profit
- 0 Comments
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Jun 20, 2019
Donating your vehicle to charity may not be a taxwise decision
- By Ellenbogen
- Charity, Taxes
- 0 Comments
Let’s say you’re buying a new car and want to get rid of your old one. You’ve heard ads claiming you can get a tax deduction for donating a car to charity. But this may not result in a big deduction — or any at all. It depends on whether you itemize and what the
Jun 19, 2019
2019 Q3 tax calendar: Key deadlines for businesses and other employers
- By Ellenbogen
- Business, Taxes
- 0 Comments
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July
Jun 13, 2019
Conflicts of interest: When employees aren’t on your side
- By Ellenbogen
- Business, Fraud
- 0 Comments
An employee’s undisclosed conflict of interest can be a serious breach of fiduciary duty to an employer. In fact, when conflicts of interest exist, companies often suffer financial consequences. Uncovering conflicts, particularly when employees are profiting from them, can be difficult. Instead, focus on prevention. Create and communicate a conflict of interest policy that contains
Jun 12, 2019
Hiring this summer? You may qualify for a valuable tax credit
- By Ellenbogen
- Business
- 0 Comments
If you hire from certain “targeted groups” and get proper certification, you can claim the Work Opportunity Tax Credit (WOTC) on your 2019 tax return. You can claim it for eligible workers whose employment begins before January 1, 2020. Targeted groups include qualified veterans, eligible summer youth, the long-term unemployed, ex-felons and certain government assistance
Jun 11, 2019
Plug in tax savings for electric vehicles
- By Ellenbogen
- Taxes
- 0 Comments
If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal tax credit of up to $7,500. (Depending on where you live, there may also be state tax breaks.) However, the federal credit is subject to a phaseout rule that may reduce or eliminate the tax break based on
Jun 6, 2019
Thinking about moving to another state in retirement? Don’t forget about taxes
- By Ellenbogen
- Retirement, Taxes
- 0 Comments
If you’re thinking about relocating to another state in retirement, consider the impact of state and local taxes. It may seem like a state with no income tax is a smart choice, but you also have to factor in property and sales taxes, as well as any state estate tax. If you make a move
Jun 5, 2019
Fraud du jour: Social Security phone scams
- By Ellenbogen
- Fraud
- 0 Comments
Despite the National Do Not Call registry and features such as caller ID, phone fraud is thriving in the mobile phone era. Using spoofed numbers — which appear to be connected to legitimate government offices and businesses or that resemble your own number — fraud perpetrators say anything and everything to try to steal your
Jun 4, 2019
Tax-smart domestic travel: Combining business with pleasure
- By Ellenbogen
- Business, Taxes
- 0 Comments
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few extra days of vacation and offset some of the cost with a tax deduction. But be careful, or you
May 30, 2019
Does your nonprofit need a CFO?
- By Ellenbogen
- Non-Profit
- 0 Comments
Your not-for-profit’s ability to pursue its mission depends greatly on its financial health and integrity. If your nonprofit is growing and your executives are struggling to juggle financial responsibilities but you’re not ready to hire a full-time chief financial officer (CFO), consider our CFO on Demand services. CFO on Demand is a specialized service we