Introduction For non-profit organizations, one of the most significant challenges is effectively allocating costs. Proper cost allocation is essential for accurately reporting financial information and ensuring compliance with funding requirements. At Rakoty Accountants, we understand the complexities non-profits face when it comes to cost allocation, and we’re here to help. In this guide, we’ll discuss […]
Introduction As a business owner, have you ever been puzzled by why your net income seems to fluctuate drastically from month to month? If so, you’re not alone. Many business owners face this issue, often due to using cash basis accounting. At Rakoty Accountants, we highly recommend switching from cash basis to accrual basis accounting […]
Introduction If you are a non-profit leader, understanding the importance of your accounting method is crucial, especially when it comes to transparency and compliance with regulations. At Rakoty Accountants, we highly recommend that non-profits switch from cash basis accounting to accrual basis accounting, particularly if you receive government funding or are subject to audits. In […]
Introduction If you’re a business owner with an LLC (Limited Liability Company), understanding the various tax deductions available to you is essential. At Rakoty Accountants, based in New Jersey, we specialize in helping LLC owners like you minimize their tax liabilities while maximizing deductions. In this guide, we’ll cover the most common expenses you can […]