NONPROFIT RESOURCES

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Nonprofit Newsletter

Check out our articles for nonprofit organizations below. Like what you see? Get timely updates about these topics and more delivered straight to your inbox by signing up for our monthly email newsletter.

Trends reveal changing landscape for nonprofits

Oct 27, 2023

Smaller donations and gifts from lower-income donors have consistently dropped. This is why analyzing the giving trends of more affluent donors is critical for nonprofits.

Watch out for employee retention tax credit frauds

Aug 16, 2023

Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.

Artificial intelligence meets human intelligence.

Debunking 5 common myths about nonprofits and AI

Jul 28, 2023

How well do you know AI and its capabilities? Find out what AI can and can’t do in the nonprofit sector, as well as five of the biggest AI myths and the truth behind each one.

Tax-exempt status debate puts nonprofit hospitals on notice

Jun 5, 2023

The tax-exempt status of nonprofit hospitals is under scrutiny as Congress determines whether the benefit equates to the value provided to local communities.

Proposed federal budget includes noteworthy tax changes

Mar 15, 2023

President Biden’s 2024 budget proposal includes a variety of changes that could impact taxes for individuals and businesses.

Inflation Reduction Act: What $80 billion in IRS funding means for taxpayers

Aug 11, 2022

(authored by RSM US LLP) The Inflation Reduction Act of 2022 provides significant funding for the IRS over the next 10 years. The IRS is expected to use over half the funds for enforcement. Taxpayers can also expect to see an increase in taxpayer services.

IRS raises standard mileage rate to 62.5 cents per mile

Jun 10, 2022

The IRS has increased the optional standard mileage rate by 4 cents per mile, its first mid-year mileage rate adjustment in 11 years.

Adjusting to the new lease accounting standard

Apr 6, 2022

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.

Six tips to help you prepare for your next audit

Feb 24, 2022

Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.

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“KraftCPAs has the experience and specialized training to provide us with the high quality, professional audit and tax services we need. They are always current on any new IRS rulings and give sound advice for best practices. They conduct their work with integrity and are very responsive when we have questions or seek advice.”

Scott Perry, The Memorial Foundation

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