Fraud prevention strategies for nonprofit organizations
Nonprofits are disproportionately vulnerable to occupational fraud due to small administrative teams, part-time board oversight, and heavy reliance on cash-based transactions. Asset misappropriation schemes such as skimming, billing fraud, and expense reimbursement abuse are among the most common threats, and the typical scheme goes undetected for over a year. By implementing practical internal controls, strengthening board oversight, and engaging a CPA proactively, nonprofits can significantly reduce their exposure before a loss occurs.
Form 990 filing mistakes that can undermine your nonprofit’s credibility
Form 990 is more than a tax return; it’s a public document that donors, grantmakers, and regulators use to evaluate your nonprofit. Common mistakes in filing, reconciliation, and narrative disclosures can raise questions about financial stewardship or put your tax-exempt status at risk. This article outlines the key errors to avoid and how to build a more reliable year-over-year filing process.
Construction accounting that reveals problems early: job costing, change orders, and WIP reporting
Construction businesses can stay profitable on paper while margin quietly slips away on individual jobs. This article explains how job costing, change-order management, and work-in-progress reporting work together to surface problems early. Learn what to look for in each system and how to keep all three telling the same story before issues become year-end surprises.
IRS raises the standard mileage rates for the second half of 2026
The IRS raised the standard mileage rates for the second half of 2026, effective July 1, with the business rate increasing from 72.5 cents to 76 cents per mile. Taxpayers who use their vehicle for business, medical, or qualifying moving purposes will need to track mileage separately for each half of the year. Learn what the new rates mean for your deductions, reimbursement policies, and recordkeeping.
IRS introduces automatic penalty relief for taxpayers with a strong compliance history
The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.
Why homeowners need to track improvements before a sale or inheritance
As home values rise, the federal home sale exclusion may no longer be enough to eliminate capital gains tax when a property is sold or inherited. The difference between a large tax bill and a smaller one can come down to how well a homeowner documented capital improvements over the years. Keeping a permanent record of qualifying expenses is one of the simplest steps homeowners can take to protect themselves.
Cash flow forecasting as a leadership tool
Most business owners rely on backward-looking financials that tell them where they have been, not where they are going. A cash flow forecast fills that gap by projecting future inflows and outflows, helping leaders spot problems early and make smarter decisions about hiring, investing, and financing. Updated consistently and tied to real business decisions, it shifts leadership from reactive to proactive.
State tax nexus in 2026: what business owners need to know about unexpected tax obligations
If your business sells online, has remote employees, or uses third-party fulfillment, you may owe taxes in states where you’ve never filed a return. Learn how physical presence and economic nexus rules work, what triggers an obligation, and what to do if your business has unexpected exposure.
Tax mistakes new business owners make in their first profitable year
Your first profitable year in business is worth celebrating. But it can also bring expensive tax surprises, especially if you’re still managing the business like you did when revenue was lower. Here are the most common mistakes new business owners make and what to do instead.
COVID-era IRS penalties may be refundable: why July 10, 2026 matters
A recent federal court decision, Kwong v. United States, has created a potential refund and abatement opportunity for taxpayers who were assessed IRS penalties or interest on federal tax obligations during the COVID-19 federal disaster period (January 20, 2020 through July 10, 2023). The decision remains unsettled, as the government has appealed, but many affected taxpayers cannot wait for the outcome: a formal refund claim or protective refund claim may need to be filed by July 10, 2026 to preserve their rights.