Tax documents are currently arriving in mailboxes and inboxes, reminding us all that tax season is rapidly approaching. This article will give a brief and broad overview of what credits and deductions are all about. The federal tax code allows for certain “credits”...
Clergy
Does the FLSA Apply to Nonprofits?
Is your nonprofit subject to the FLSA? The answer isn't a simple yes or no. Nonprofits fall into a special category, but fortunately, the Department of Labor has provided guidance in this area. In brief, says the DOL, there are two ways in which an employee can be...
What Nonprofits Need To Know About Form 990
Nearly all the approximately 1.74 million organizations recognized as tax exempt by the IRS must file Form 990 or another form in the same series annually. Organizations making less than $200,000 in revenue and having less than $500,000 in assets must file Form...