Having a strong financial record is important to tell the story of your non-profit organization. Financial statements are important in this regard as they help non-profit organizations record and manage their money. Having a strong financial record is important to tell the story of your non-profit organization. Financial statements are important in this regard as they help non-profit organizations record and manage their money. It also helps organizations to show grant-makers, individual donors, and investors; who contribute to their business; that their time, effort, and money are being used wisely. We show you how financial statements can enhance your non-profit organization:
Investors need to know how a company is doing financially before they decide to invest – or not. Your financial statements need to give an investor an overview of the profitability, potential for growth, strengths, and weaknesses in your business.
Let’s face it – nobody likes paying income tax. If only there was a way to reduce the amount you were paying each year. The good news is that there is! Below, we provide you with a few handy tips on how income tax can be saved without very much effort required on your part.
Think you know what income tax bracket you fall into? Think again! On Oct. 18, 2022, the IRS announced the annual inflation adjustments for the 2023 tax year which will be different from those in effect for 2022. Here is the breakdown to determine which tax bracket you fall into for your 2022 tax returns:
With the tax season in full swing, filing your tax return should be at the top of your agenda. While this may seem like a daunting prospect, Georgen Scarborough Associates, PC is here to help. With our extensive knowledge in tax, we hope to shed some light on some of the more complex aspects of filing your tax return. In this case, the difference between standard and itemized deductions as well as when to file which.
With the new income tax law, filing your taxes may have changed slightly. If your annual income is below a certain threshold, you may not have to file your taxes. However, in order to claim a refundable tax credit or a refund on income tax, you are going to need to file a tax return. In this regard, Georgen Scarborough Associates, PC is here to help you.
Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results. When reviewing midyear financial reports, however, recognize their potential shortcomings. These reports might not be as reliable as year-end financials, unless a CPA prepares them or performs agreed-upon procedures on specific accounts.