nonprofit audit

4 Key Ratios Nonprofits Should Watch

April 13, 2023

To control your nonprofit’s expenses and improve operating efficiency, you need to keep an eye on the numbers. This should come as no surprise, but which measures are important? Which ratios can help you identify how much currently goes toward programming (as opposed to administration), how much you spend on fundraising (compared to funds raised),…

Read More
Reasonable Compensation

What You Need To Know About Deferred Taxes

April 11, 2023

Deferred taxes are a confusing topic and the accounting rules for reporting these items often seem to defy the logic of real-world economics. Here’s a brief overview to help clarify matters. What are deferred taxes? Companies pay income tax on IRS-defined taxable income. On their Generally Accepted Accounting Principles (GAAP) financial statements, however, companies record…

Read More
tax scam

Keep Your Eyes Peeled for These IRS Dirty Dozen Tax Scams

April 6, 2023

The IRS released its annual list of “Dirty Dozen” tax scams, which helps raise awareness to protect honest taxpayers from aggressive promoters and con artists. These schemes put people at financial risk and increase the chances people could become victims of identity theft. Many of these schemes peak during filing season as people prepare their…

Read More
s corporation

Is an S Corporation Right for Your Business?

April 4, 2023

If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. Personal liability A big benefit of an S corporation over a partnership is that as S corporation shareholders,…

Read More
corporate tax

4 Tips To Help Prevent Nonprofit Accounting and Tax Errors

March 30, 2023

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Your nonprofit should strive to be as accurate as possible when preparing accounting and other tax documents. Carelessness can cost you support from donors and grantmakers and,…

Read More
Accounting Today Regional Leaders

Accounting Today Recognizes Buchbinder as a 2023 Regional Leader

March 28, 2023

Buchbinder Tunick & Company LLP was acknowledged by Accounting Today as one of the Top Regional Leaders for 2023 in the Mid-Atlantic region, which includes New Jersey, New York, and Pennsylvania. Buchbinder has been ranked as a Top Regional Leader by Accounting Today for several years and the firm is proud to make the list…

Read More