It’s common for disaster planning to be overlooked when your nonprofit is focused on its mission. However, taking the time to prepare now can prevent serious consequences in the future. Your operations are vulnerable to a range of risks, from natural disasters like hurricanes and wildfires to man-made threats like cyberattacks and active shooters. Even
The average cost of a data breach in the United States is enormous — $9.44 million. Without insurance protections, these costs can be debilitating to any business. And while large corporations are generally in the news cycle after a major breach, small businesses are not safe from the risks. In fact, 43% of small- and
What does it mean for a business website to be ADA compliant? The Americans with Disabilities Act created regulations meant to prohibit discrimination against people with disabilities. Part of these regulations fall to employers. It’s easy to think of ADA compliance in terms of accessible parking or other accommodations for employees with disabilities. However, what
Arkansas Employer Support of the Guard and Reserve, a Department of Defense program, presented Landmark CPAs with the ESGR Pro Patria Award in recognition of the extraordinary support of employees who serve in the Guard and Reserve. The esteemed recognition is the highest-level award that may be bestowed by an ESGR State Committee. The award
Claiming significant first-year depreciation tax deductions for eligible real estate expenditures may be an option for your business, allowing you to accelerate deductions rather than spreading them out over multiple years. However, this decision is not as straightforward as it may appear, as there are important factors to consider. Qualified Improvement Property (QIP) For assets
The past couple of years have shown that unexpected events can wreak havoc on even the best-laid business plan. In a volatile economic climate, it’s wise to be prepared for every eventuality — including the possibility of selling your business fast. Even if the sale isn’t urgent, it’s important to prepare your business for potential
If you’re running a business, whether it’s new or established, it’s possible that you may experience losses. But don’t worry, the federal tax code can help. You have the option of applying your losses to offset taxable income in future years, subject to certain limitations, through the net operating loss deduction. Qualifying for a Net
If your company needs to expand or relocate, keep the rehabilitation tax credit in mind, especially if you like old buildings. Qualified Rehabilitation Tax Credit Expenses The credit for a qualified renovated building that is also a certified historic structure is equal to 20% of the qualified rehabilitation expenditures (QREs). A qualified rehabilitated building is
Nonprofits must manage their financial and accounting records even though they are not subject to income tax. This includes preparing financial statements, collecting payroll taxes, projecting budgets and tracking performance. If nonprofit accounting procedures are not monitored, they can become inefficient over time. Here are some suggestions for policies that your nonprofit should review on
Nowadays, the majority of companies have some intangible assets. These assets’ tax treatment may be complicated. What makes intangible assets so complex? According to IRS regulations, costs that must be capitalized include: Acquiring or creating an intangible asset, Creating or enhancing a separate, distinct intangible asset, Creating or enhancing a “future benefit” identified in IRS