Traditional strategic planning requires non-profit leaders to perform a lot of guess work about what might happen in the future. This approach also asks decision-makers to explicitly shut down options and possibilities. Real-time strategic planning (RTSP) is a more flexible approach. It enables non-profits to identify, understand and act on today’s challenges and opportunities
Month: March 2022
No Audit Required? Do It Anyway
Your non-profit may not be required to undergo regular audits. But an audit can reassure donors and other stakeholders that you take seriously your responsibility. An audit can also help you identify risks before they become intractable problems. Here’s how to initiate and prepare for an audit.
Your Non-profit’s Board Needs To Know These Financial Warning Signs
Is your board staring at financial red flags without knowing it? Although some warning signs — such as those experienced when the pandemic first hit — are obvious, others are easy to overlook. Here are several signs of trouble that board members need to be aware of and prepared to act on.
Memorized, Commented, and Scheduled Reports in QuickBooks
Have you explored what you can do with QuickBooks reports once you’ve created them?
Hiring An Independent Contractor? How QuickBooks Online Can Help
Are you taking on a worker who’s not an employee? QuickBooks Online includes tools for tracking and paying independent contractors.
Understanding Your IRS Notice
Dealing with the IRS can be stressful. There are taxpayers who receive an IRS notice and because they are so fearful, they will pay the notice without verifying the accuracy.
IRS Form 14457: Why It’s Important & What You Need To Know
On February 15, 2022, the IRS announced Form 14457, Voluntary Disclosure Practice Preclearance Request and Application has been revised, including an expanded section on reporting virtual currency. With the rise of virtual currency, the IRS is cracking down on virtual currency tax reporting.