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Since the Tax Cuts and Jobs Act (TCJA) in late 2017 and the Taxpayer First Act of July 2019, there are significant changes in tax regulations.  The IRS issued and revised several regulations that affect nonprofits and religious organizations specifically. Here are a few you need to be aware of: Tax-Exempt Organizations must file Form 990 electronically for tax years beginning after July 1, 2019. If your tax year ends on or before June 30, 2020, you can still file via paper this year. Form 990-EZ short-form filers (revenues less than $200,000 and assets less than $500,000) have an additional...

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.

If your organization has a December 31^st 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.

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

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...