The Lend A Hand Project

The Lend a Hand Project

I am proud to be a member of the Board of Directors of The Lend A Hand Project. Won’t you please join me in helping individuals and families in need across Long Island?

02 Aug

10 facts about the pass-through deduction for qualified business income

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction.

31 Jul

IRS audits may be increasing, so be prepared

The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that…

29 Jul

Cryptocurrency donations: Will your nonprofit accept them?

Cryptocurrency has gone mainstream, and if you’ve been sitting on the fence about accepting donations in virtual currency, it’s time to make a decision. But before your not-for-profit says “yes” to a Bitcoin (or other cryptocurrency) gift, make sure you…

26 Jul

Eligible Businesses: Claim the Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background Back in March of 2020,…

24 Jul

Are you a nonworking spouse? You may still be able to contribute to an IRA

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA…

22 Jul

Tackling volunteer liability issues

During the pandemic, your not-for-profit may have been forced to operate without your dedicated volunteers. It has probably come as a great relief to welcome them back in person. However, volunteers, like employees, represent some risk to your organization. For…

19 Jul

Help ensure the IRS doesn’t reclassify independent contractors as employees

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error.

17 Jul

Seniors may be able to write off Medicare premiums on their tax returns

Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married and both you and your…

15 Jul

Is your nonprofit complying with federal procurement requirements?

“Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) applies to all not-for-profits that accept federal funding. It has been updated and amended several times, most recently in 2020. So if you haven’t reviewed your own…

Tag: The Lend A Hand Project

Tag: The Lend A Hand Project

The Lend a Hand Project

Introduction

Tag: The Lend A Hand Project