QuickTips RSS

churches, nonprofit, nonprofits, QuickBooks -

Wondering if your nonprofit or church should upgrade to the new 2020 version? QuickBooks updates their Pro, Premier, and Nonprofit versions each year. I’m going to detail the most useful improvements for nonprofit accounting so you can decide for yourself.

Read more

If your organization has a December 31st year end, January is a very busy time.

Besides the 1099s to independent contractors and the W-2s to employees, you also need to clean up all your accounts so your records will be correct. In this post, I’m going to link you to older blog posts to help.

Read more

mileage rates, self employed -

2019 mileage rates have been issued from the IRS with a 3.5 cent increase for business travel.

Read more

1099, independent contractors -

I hate to disrupt your activities during this ridiculously busy time of the year, but if you would like to receive FREE IRS Form 1099-MISC, you will need to order them soon. Form 1099-MISC reports to the IRS royalties, rents, and other miscellaneous income, but we are most concerned with Box 7-Nonemployee Compensation. Nonemployee compensation is the payments to workers we use throughout the year that are not on our payroll. If we paid them over $600 throughout the year, we must furnish them a Form 1099-MISC. The red Copy A must be mailed to the IRS no later than...

Read more

donations, endowment, memorials, stock, unrealized gains, unrealized losses -

Donating stock to your charitable organization as a Donation, Endowment or Memorial requires specific recording methods to include Unrealized Gains and Losses.

Read more