Category: Not-For-Profit

Not-For-Profit

UPDATED – What Small Businesses, Nonprofits and Self-Employed Need to Know about PPP Loan Forgiveness by Steve Nouss, CPA, CGMA


Posted on June 17, 2020 by Steve Nouss

As of June 12, 2020, the Small Business Administration (SBA) had approved more than $512 billion in potentially forgivable Paycheck Protection Program (PPP) loans to small business, non-profits and self-employed taxpayers struggling to maintain operations and retain workers through the COVID-19 pandemic. However, since the CARES Act introduced the PPP in March, loan applicants have […]

Individuals, Businesses Receive More Incentives to Make Charitable Donations in 2020 by Jack Winter, CPA


Posted on June 02, 2020 by Jack Winter

The financial impact of the COVID-19 health crisis will leave a lasting impression on individuals and businesses throughout the world. For nonprofit organizations that rely on public donations to fund research and services for those in need, the pandemic can be devastating. In response, the CARES Act offers U.S. individuals and businesses greater incentives to […]

UPDATED JUNE 4, 2020 – PPP Loan Guidance for Self-Employed Small-Business Owners, Independent Contractors by Andrew Leonard, CPA


Posted on April 17, 2020 by Andrew Leonard

On April 13, the Small Business Administration (SBA) issued interim final guidance to help self-employed small-business owners impacted by the COVID-19 pandemic begin applying for immediate economic relief through the Paycheck Protection Program (PPP) introduced by the CARES Act. If you are you of these taxpayers, which includes independent contractors and sole proprietors, you should […]

Federal and State Governments Offer Disaster-Relief Loans to Small Businesses Impacted by COVID-19 by Joseph L. Saka, CPA/PFS


Posted on March 16, 2020 by Joseph Saka

The Small Business Administration (SBA) announced it will offer up to $2 million in low-interest disaster-recovery loans to support the nation’s 30 million small businesses suffering losses due to the novel coronavirus (COVID-19). Under the Economic Injury Disaster Loan program, the SBA will provide states and territories with federal aid to help qualifying small businesses […]

New Tax Laws in Effect for Tax Exempt Organizations by Adam Cohen, CPA


Posted on February 06, 2020 by Adam Cohen

The Taxpayer Certainty and Disaster Tax Relief Act passed in December 2019 includes several law changes that affect nonprofit organizations and the tax returns they file in the current year and those filed in prior years. Because some of the provisions of the act are retroactive, tax-exempt organizations may be eligible to apply the changes […]

Not all Charitable Contributions are Deductible by Adam Cohen, CPA


Posted on April 07, 2017 by Adam Cohen

The U.S. tax code allows individuals to claim a deduction on their federal income tax returns when they donate money or products to a charitable, non-profit organizations. The deductible contribution reduces the amount of a taxpayer’s income that is subject to tax. However, all donations are not treated equally. Following are some tips for taxpayers […]

Social Media Platforms Help Non-Profits Raise Funds and Awareness by Megan Cavasini, CPA


Posted on August 11, 2016

Most non-profit organizations recognize the power social media can wield to increase awareness and engagements among potential donors.  For proof, look no further than the Ice Bucket Challenge, which successfully raised interest, excitement and millions of dollars for ALS research.   Social media platforms are now making it easier for 501(c)(3) organizations to request and […]