Partnerships are one of the most common ways for two or more people to run a business together. They can be simple to form and offer flexibility, but they also come with important responsibilities. From agreements and taxes to contributions, self-employment rules, and how partnerships can change over time, here are seven key points every business owner should understand before starting or joining a partnership.
Nonprofits must observe the rules laid out by the IRS to protect their status, treat everyone fairly and be transparent. The IRS has specific requirements for Non-profit accounting in New Jersey and this guide outlines them and suggests how your organization can mostly follow them. Before starting, we need to know Non-profit accounting in New Jersey basics and essentials
Running a non-profit organization comes with many responsibilities, particularly when it comes to financial reporting. While most non-profit leaders are aware of the annual IRS 990 report, not everyone knows there’s another critical filing that can have serious consequences if missed: the state report. In this blog post, we’ll explore both the federal and state […]