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All About Nonprofit

AI In Accounting: Can AI Close the Books?

Artificial intelligence (AI) is making waves in almost every industry, and accounting is no exception. The promise of automating tedious tasks, improving efficiency and gaining deeper insights from financial data is an exciting prospect for many...
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What the Delayed 2025 Compliance Supplement Means for Your Nonprofit's Single Audit

Does your nonprofit organization receive federal funding and have a fiscal year ending on or after June 30, 2025? If so, you may be wondering how the delayed release of the 2025 Compliance Supplement will impact your upcoming Single Audit. Here's what...
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Navigating the One Big Beautiful Bill: What Nonprofits Need to Know

The recently enacted One Big Beautiful Bill (OBBB) Act brings sweeping changes to the U.S. tax code, with both direct and indirect consequences for the nonprofit sector. While much of the media coverage has focused on higher education — particularly the...
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Do You Need an Audit, Review or Compilation?

When it comes to financial reporting, nonprofits and for-profit businesses often face a range of requirements and expectations depending on their size, activities and the specific regulations they are subject to. When running a nonprofit or business,...
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2025 Payroll Update

Social Security & Medicare Tax As of January 1, 2025, the maximum amount of annual earnings subject to Social Security increases to $176,100 (from $168,600 in 2024). There is no limit on the amount of earnings subject to the Medicare tax. The maximum...
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Key Highlights of the Uniform Guidance Update for Nonprofits Receiving Federal Funds

Nonprofits that receive federal funds need to comply with the stringent requirements associated with government funding.
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