Groups exempt from federal income taxation under § 501(a) must file Form 990 to report on their finances, activities, and governance. The IRS uses Form 990 to gauge whether tax-exempt organizations are adequately
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Setting up a nonprofit on your own can be confusing. People generally use the word “nonprofit” to refer to groups that are exempt from federal income tax under Internal Revenue Code Section 501(c)(3).
New beneficial reporting requirements under the Corporate Transparency Act become effective January 1, 2024, and will require small business to report information about their owners. Congress’s aim is to prevent criminals, terrorists, and
Cash flow measures how much cash is flowing in and out of a business, and a positive cash flow is one of the strongest determinants of a business’s success. It shows that a
Business owners who are interested in forming a new limited liability company (LLC) or converting their existing business to an LLC are probably familiar with the benefits of this entity type. While the
The internet has been a game changer for small businesses, allowing them to reach new markets, hire nonlocal talent, and compete with larger companies. Not having an online presence where customers can discover
Before you can start your nonprofit and begin making an impact, you first have to take important legal steps to ensure your tax-exempt status and other internal decisions are up to your state’s
The April tax deadline is not the only important fiscal date for small businesses. Many people who own businesses must also make estimated tax payments throughout the year, but your accountant can help
As an employer in the Commonwealth of Virginia, knowing the difference between a handbook and a policy manual and using them appropriately can create a more transparent and smoothly operating business. But it
Eviction isn’t as simple as telling a tenant to get out. Tenants have many legal rights and as a landlord in the Commonwealth of Virginia, it’s important to understand the proper process of
