On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was signed into law, a sweeping piece of tax and economic legislation that will have wide-ranging impacts on individuals,…
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The “One Big Beautiful Bill” (OBBB), signed into law on July 4, 2025, represents the most sweeping tax reform since the Tax Cuts and Jobs Act (TCJA). While the legislation…
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As year end approaches, many businesses will soon be preparing for their annual audits. One key consideration is ensuring there are no potential conflicts of interest that could compromise the…
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With fewer federal grants available to not-for-profit organizations, the competition to qualify for funding — from all sources, including foundations — has become more intense. Now, more than ever, your…
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Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject…
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Today, many organizations rely on cloud-based tools to store and manage data. However, the costs to set up cloud computing services can be significant, and many business owners are unsure…
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In general, not-for-profits can’t use restricted assets for purposes other than those specified by the original donor. Board-designated assets (or board-designated funds) are another matter. These are unrestricted funds that…
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