PBMares Named Top 100 Firm in 2023 by INSIDE Public Accounting
Learn about the recent news that PBMares has been named as a Top 100 Accounting Firm in the nation as ranked by INSIDE Public Accounting
Debunking 5 common myths about nonprofits and AI
There are many misconceptions about artificial intelligence. Here are five common myths to debunk about nonprofits and AI.
Why the TikTok Ban on Contractor Devices is a Big Deal
The US has issued an executive order banning all federal contractors and employees from downloading or using TikTok on any device that is owned by the government, citing security concerns. This ban has sparked much debate about the future of the platform and what this means for users.
IRS clarifies employee retention credit guidance
IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
Nonprofit Advertising Rules: Periodicals and Unrelated Business Taxable Income
Nonprofits can generate revenue from their periodicals through advertising; while this type of revenue is considered to be an unrelated trade or business activity, it might not always be taxable. The key is to understand the relationship between certain costs and types of income.
New W-2 and 1099 E-Filing Requirements for Employers in 2023
On February 23, 2023, the IRS significantly expanded electronic filing requirements for tax returns. This article focuses on the most common type of information returns–W-2 and 1099 series return filings–but the new requirements also apply to other types of returns.
The critical role of SAM registration for federal contractors
Federal contractors must ensure they keep their SAM registration up to date. If a contractor's SAM profile expires, the government is no longer authorized to work with that contractor.
Deadlines for Claiming the Employee Retention Credit (and It’s Not July 31, 2023)
The deadline for claiming the Employee Retention Credit (ERC) is getting closer. If you are an eligible business or nonprofit organization, you still have time to determine your eligibility and file your claim. That time, however, will run out soon with strict filing deadlines coming up in 2024 and 2025.
Overview of the New Renewable Energy Tax Credit under Section 48
The Inflation Reduction Act modified or introduced several energy efficient tax incentives, like the newly created Section 48(e) renewable energy investment tax credit. The base amount can be increased by several optional bonus credits.
Does Your Nonprofit Qualify for Retroactive Employee Retention Tax Credits?
Nonprofit organizations can still qualify for the employee retention tax credit from 2020 and 2021 if they meet certain eligibility rules.