Nonprofits operate in a complex market full of near-constant challenges and changes. Technology advances, an uncertain economy, changing donor actions, and an increasing demand for nonprofit services are just a few examples of the trials nonprofit organizations have faced in recent years. As we’ve covered before, one of the best ways to minimize the potential negative impacts of these fluctuations is by maintaining effective and up-to-date policies and procedures for your nonprofit.

Occupational fraud is a crime generally committed by employees against their employers. Ironically, employees also are most likely to notice or suspect occupational fraud schemes conducted by their coworkers or managers. Whether they report through an anonymous tipline or directly to management or HR, rank-and-file workers often are the first to raise the alarm.

Selling a company can be a complex and emotional experience, complicated by a number of factors such as unfavorable economic conditions, reluctance to let go of a business the owner has built or unrealistic expectations regarding the likely selling price.

A U.S. District Court judge in Alabama has ruled the Corporate Transparency Act (CTA) unconstitutional. The CTA was enacted as part of the Anti-Money Laundering Act of 2020 and underpins the nascent beneficial ownership reporting regime.

President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and individual taxpayers. While most of these provisions have little chance of coming to fruition while the U.S. House of Representatives remains controlled by the Republican Party, they might gain new life depending on the outcome of the November elections. Here’s an overview of the major tax proposals included in the budget.

As we navigate another tax season together, we want to ensure your experience with TaxCaddy and our workflow is as smooth and efficient as possible. We've received helpful feedback and noticed a few common areas of confusion regarding document submission and account access. To address this, we've compiled some tips to guide you through the process.

The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past decade. Now, the DOL is implementing a new final rule rescinding the employer-friendly test that was developed under the Trump administration. The new, more employee-friendly rule takes effect March 11, 2024.

Business losses can sting, particularly when they are large and unexpected. However, there are numerous ways the tax code can help mitigate the effects of business losses and minimize the financial damage. A key factor is timing. The earlier in the year a business owner recognizes that a loss may occur, the more likely changes can be made in the current year to minimize the financial loss before it has a significant impact. 

In the ever-evolving realm of real estate, opting for either short-term or long-term rentals transcends mere convenience; it represents a choice with substantial implications for your financial strategy. At Brinker Simpson, we acknowledge the intricate nature of this decision and strive to offer a holistic viewpoint that encompasses the frequently underestimated dimension of taxation.