There are not-for-profit organizations that do not earn a dime from their activities. The money made in the organization is used to keep the company's day-to-day operation instead...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/08/2023
A restricted fund is a set-aside account that holds money that can only be used for specific purposes. Restricted funds assure donors that their contributions will be used as they...
Posted by Rosovich & Associates, Inc. on 06/29/2022
The CARES Act (Coronavirus Aid, Relief and Economic Security Act) came up with a new assistance program for small businesses (with employees below 500) to cushion the coronavirus's...
Posted by CORE PERFORMANCE on 03/05/2021
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Posted by Karen Munoz, EA on 02/28/2021
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
Posted by Karen Munoz, EA on 02/23/2021
Getting a loan may seem impossible if you have no credit or has a bad credit. When lenders consider loan applications, they usually will look into whether the applicant has the ability...
Posted by Duce Taxes & Accounting on 11/05/2018
Charitable deduction is the contribution and donation to charity with deductions for tax payers. Charitable deductions allow the tax payers to deduct the contributions they do to qualify...
Posted by Tax Solutions & Accounting Services on 07/31/2018
As the income tax system of United States of America is a progressive one. So, a high-income level generally means a high tax rate. Luckily, there is Internal Revenue Code that consists...
