Statement on Auditing Standards No. 136 prescribes certain new performance requirements for an audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and changes the form and content of the related auditor's report. Read more.
The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.
This third article in Club Director’s Philanthropy in Clubs series takes a more in-depth look into foundations. Three case studies highlight what can go wrong and include the key takeaways to be learned from each example.
Are you managing your endowment funds under the current rules? See how you match up to these common issues in the application of UPMIFA.
Utilizing data as a tool to drive greater efficiency and better decision-making in your nonprofit organization.
It’s time to re-evaluate what liquidity actually means and how well-crafted policies can improve an organization’s operations, finances, and be a tool for educating the public, the Board, and management.
The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.
The DoD has updated its DFARS rules from the existing clause to three new clauses to allow enforcement of CMMC for DoD contracts.
Funding received from state or local governments may have originated in the Cares Act and may only be pass-through funding. Thus, the entity may be subject to a single audit requirement. Here is a list of CARES Act- and COVID-19-related programs that could trigger a single audit.
Since the Tax Cuts and Jobs Act, the treatment of 1031 exchanges has been more complex, nuanced, and limited according to varying definitions of real property. Now with final regulations, real estate investors can make more informed decisions about which properties qualify.