Kinds: Articles

Cash Management Increases Your Organization’s Chance of Success

If you want your organization to grow and remain competitive, a solid financial plan and a well-conceived strategy can mean the difference between boom and bust. The obvious place to start is with a cash-flow analysis. Review your company’s cash flow statements to understand the cycle of inflows and outflows that stem from accounts receivables,…

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Write Clear, Up-to-Date Instructions for Policies and Procedures

Well-documented written policies and procedures are a critical element of maintaining your organization’s ability to continue winning government contracts. Several contract clauses require procedural documents for internal control systems related to such activities as making estimates and purchases. In addition, contractors must have policies, procedures, operating instructions and other control information available to help ensure…

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Steps for Preventing Employee Fraud in Your Organization

If your organization becomes a victim of internal fraud, it won’t just hurt the bottom line — the incident also could do devastating damage to your reputation. By implementing some simple controls, though, your organization can help protect itself from these risks. Segregate Duties One of the most important preventive measures is the segregation of…

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When a Nonprofit Organization Can and Can’t Lobby

There’s a common misconception that nonprofit organizations are strictly banned from lobbying for a political, environmental or some other social issue. Organizations aren’t banned from such activities, but there are potential pitfalls to avoid and nonprofit must operate within certain boundaries. A single misstep could result in severe consequences — including the loss of a…

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Find a Corporate Partner for Your Nonprofit Organization

Practically every nonprofit you encounter is stretched thin and could use more workers to help raise funds and conduct other activities furthering its mission. But you can’t always hire more workers in this budget-conscious environment — not with donations trending down during the first half of 2019. Of course, volunteers can pitch in and you…

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Red Flags for IRS Tax Auditors

No one wants to see an Internal Revenue Service (IRS) audit letter in the mail — or in the worst case, an auditor show up at his or her door. The IRS can’t audit every American’s tax return, so it relies on guidelines to select the ones most deserving of its attention. Here are six…

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FAQs About Self Employment Tax

What Is SE Tax? SE tax is the way the US Treasury Department collects Social Security and Medicare taxes on non-wage income from business-related activities. For 2019, the SE tax rate is 15.3% on the first $132,900 of net SE income. The rate has two components: 12.4% for the Social Security tax, and 2.9% for…

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Speed Up Payment on Receivables

Receivables don’t have much value if they aren’t turned into cash. Your organization really needs to keep tight control on its invoices outstanding so you can get an accurate picture of the receivables situation and take steps to improve the turnover of those accounts. Speed Up the Process Here are five steps that can help…

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Are You Prepared for Audits of Your Business Systems?

Many US government contractors are expected to comply with contractual requirements for maintenance of adequate business systems. The Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS) clauses incorporated into U.S. government contracts list detailed criteria associated with business systems for: Accounting, Estimating, Material management and accounting, Purchasing, Earned value management, and Property….

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Profit From an Energy Audit

Organizations routinely evaluate opportunities to reduce expenses. However, many organizations are unaware of the savings that can result from an energy audit. Not only are many of the savings from an energy audit sustainable, they are typically well received by employees and customers. Even better, your organization may qualify for tax breaks for making energy-saving…

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