Your non-profit’s ability to pursue its mission depends greatly on its financial health and integrity. If your non-profit is growing and your executives are struggling to juggle financial responsibilities, it may be time to hire a chief financial officer (CFO). Core responsibilities Generally, the non-profit CFO (also...
Few businesses today can afford to let potential buyers slip through the cracks. Customer relationship management (CRM) software can help you build long-term relationships with those most likely to buy your products or services. But to maximize your return on investment in one of these...
If you are a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other non-tax benefits. The kids can gain on-the-job experience, save for college, and learn how to manage money. And you may be able to: ...
According to the Association of Certified Fraud Examiners’ Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse, organizations victimized by fraud lose a median $130,000. But construction companies, in particular, are even harder hit, with a median loss of $227,000. What can...
There are three types of financial statements under U.S. Generally Accepted Accounting Principles. Each one reveals different, but equally important, information about your company’s financial performance. And, together, they can be analyzed to help owners, management, lenders, and investors make informed business decisions. Profit or loss The...
One of the most popular fringe benefits for employees at many organizations is not an insurance plan or a health club membership; it is shiny chrome and steel — a vehicle. Providing a car, van, or truck that an employee can use for both work...
Single taxpayers with taxable income up to $39,375 ($78,750 on joint returns) can pay zero percent tax on long-term capital gains. That may suggest some income-shifting strategies. Example one: Suppose that Fred and Grace Holden plan to switch from XYZ Stock Fund to another fund. If...
Most non-profits are intensely focused on present needs, not the possibility that disaster will strike sometime in the distant future. But because a fire, flood, or other natural or manmade disaster could strike at any time, the time to plan for it is now. You likely...
There are many ways for employers to conduct annual performance reviews. So many, in fact, that owners of small to midsize businesses may find the prospect of implementing a state-of-the-art review process overwhelming. The simple truth is that smaller companies may not need to exert a...