filed in Not-For-Profit (non-profit) Accounting on Jul.27, 2010
There are lots of times when a client will come to us asking for advice on how to handle a situation after it has occurred. Or they inform us of some information that has happened thinking it is no big deal, when in fact it is. For example, one client, during audit fieldwork, informed us [...]
filed in Allocation on Mar.09, 2010
If you are a performing arts organization and have substantial expenses relating to advertising for people to buy tickets for the performances, it would make sense to functionally allocate those expenses to program activities, right? After all, providing these performances is part of your mission. Actually, the answer is probably no. Whether advertising expense can [...]
filed in Deductions on Sep.22, 2009
With apologies to the Late Show, here are the top ten things the IRS wants every taxpayer to know before deducting charitable donations. (I bolded terms for easy reference.)
Number 10 - An appraisal generally must be obtained if you claim a deduction for a contribution of noncash property worth more than $5,000. In that case, [...]
Loading ...