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State of Illinois Will Not Recoup Replacement Taxes

Many local governments have been carrying a liability in their financial statements for overpayments of replacement taxes due to a calculation error by the State of Illinois i ... Read more

Form 990 – Schedule B – Schedule of Contributors

Schedule B of Form 990 reports information about the not-for-profit organization (NPO)’s contributors. This article will discuss the following: When a NPO is required to fil ... Read more

What are the Benefits of Hiring an Outsourced CFO?

From time to time business owners need more financial leadership and guidance than members of their in-house accounting staff can provide. While the team may be excellent at m ... Read more

Form 990 – Schedule A and the Public Support Test

Schedule A of Form 990 is used to state the not-for-profit organization (NPO)’s reason for public charity status and most public charities are also required to compute their ... Read more

Base Form 990 – What Does Form 990 Tell the General Public?

Most federally recognized not-for-profit organizations (NPOs) must file Federal Form 990 Return of Organization Exempt From Income Tax (Form 990) if they have gross receipts g ... Read more

2017 Plan Benefits & Contribution Limits

The IRS annually reviews the limits placed on retirement plans and IRA contributions and the amount of benefits allowed under a pension plan. Figures are evaluated to determin ... Read more

Form 990 from a Board Perspective

This article is the start to our Understanding Form 990 Article Series where we will take a deeper dive into Form 990, the information required to complete the Form, and the i ... Read more

Take Advantage of Calculation of Value Reports

From time to time situations arise that require a business owner to conduct a valuation to determine the value of their business. This is often needed when selling a business, ... Read more

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