Not-for-Profit

Entrepreneurs: What Can You Deduct and When?

Yeo & Yeo CPAs & Business Consultants

Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. How expenses are handled ... Learn More

Nonprofits Can Register With AmazonSmile to Earn .5 Percent of Amazon Purchases

Tim Crosson, Jr.

AmazonSmile is an accessible, no-cost fundraising opportunity operated by Amazon.com that can help supplement the existing charitable contributions a nonprofit organization receives. The process is simple and it all starts with Amazon.com customers. Customers interested in participating are required to select a charitable organiza... Learn More

Functional Expense Allocation for Nonprofits

Tim Crosson, Jr.

Functional expense allocation can be challenging for nonprofits. Expenses must be divided among various functions, according to the purpose for which the costs are incurred. What are the differences between the types of functional expense classifications -- program services, supporting services, management and general ... Read the Whitepaper

What’s Your Charitable Donation Deduction?

Yeo & Yeo CPAs & Business Consultants

When it comes to deducting charitable gifts, all donations are not created equal. As you file your 2015 return and plan your charitable giving for 2016, it’s important to keep in mind the available deduction: Cash. This includes not just actual cash but gifts made by check, credit card or payroll deduction. You may deduct 100%. Or... Learn More

Alternative Investments: What a Not-for-Profit Needs to Know

Jessica Rolfe

Alternative investments are becoming more and more common as investment instruments for not-for-profit organizations. Alternatives are not your typical investments in items such as stocks, bonds and cash. They are not traded on an active market, even though they are often listed alongside traditional investments on the financial statem... Learn More

Why are Written Policies and Procedures so Essential for Not-for-Profits?

Yeo & Yeo CPAs & Business Consultants

The importance of written policies and procedures for a not-for-profit organization is evident now more than ever before. By definition, they are a set of principles, rules and guidelines formulated and adopted by an organization to reach its long-term goals, typically published in a booklet or other form that is widely accessible. Wel... Learn Why

IRS Withdraws Proposed Donor Reporting Procedure

Yeo & Yeo CPAs & Business Consultants

On January 7, the IRS withdrew proposed regulations that would have provided for an optional donor reporting process that could be used by charitable organizations instead of individual donor substantiation letters. Charitable nonprofits would have had the option to collect and provide to the IRS the name, address, and Social Security numbers...