4Thought Blog

Developing Investment Policies: How All Nonprofits Can Benefit

So you think investment policies are only for nonprofits with millions to invest? Not true. If your organization holds funds in reserve — for example, to cover emergencies or meet long-term goals — it’s prudent to have investment policies. Such policies will help ensure that you manage reserve funds responsibly according to their purpose and…

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Many More Businesses Now Eligible for COVID Employee Retention Tax Credits

The Employee Retention Tax Credit (ERTC) provision of the 2020 CARES Act was overshadowed by the PPP loan program, primarily because the original ERTC provisions prohibited an employer with a PPP loan from claiming ERTCs. The 2021 Consolidated Appropriations Act, passed just weeks ago and most known for allowing businesses a tax deduction for the…

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COVID Tax Relief Measures: What’s Extended for Businesses into 2021

Before President Trump signed the latest economic stimulus law, several temporary COVID-19-related federal tax relief measures were set to expire on December 31, 2020. This article explains the current status of eight important temporary relief measures and whether the Consolidated Appropriations Act (CAA) extended them.

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Should Manufacturers Use U.S. Supply Chain Partners? Pros & Cons

The manufacturing industry’s dependence on foreign suppliers, especially those in China, has caused concerns for many years. But the COVID-19 pandemic has put a spotlight on this issue, forcing some manufacturers to rethink their offshore business arrangements. Would your business be better off switching to U.S. supply chain partners? Here’s some important information to consider.

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Construction: 8 Accounting Practices to Boost Your Bottom Line

Construction accounting is different from the accounting practices of businesses that use only a general ledger. Because construction companies perform contract work and take on invoice-based jobs of varying sizes and durations, they must treat each project as a profit center. You can help keep your business healthy in 2021 and beyond by adopting or…

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2021 New Year’s Resolutions for Small Business Owners

Have you made any New Year’s resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter around the house. But you can also make New Year’s resolutions for your small business. Here are a dozen resolutions for small business owners to consider implementing to succeed in…

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Second Stimulus Offers More Business Benefits, Tax Credits

With its $900 billion price tag, the second federal stimulus bill includes a multitude of benefits for businesses – so many we couldn’t fit them in one article. Our first article on the bill focused on the new Paycheck Protection Programs rules and additional allocation (you can read it here if you missed it) but…

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New Federal Stimulus Deal Includes New PPP, Other Business Benefits

Congress has approved a second COVID-19 stimulus deal with both business and individual benefits. President Trump still has to sign the bill, which may impact some of the individual benefits. Top on the list may be the deductibility of businesses expenses paid with Paycheck Protection Program loans. This was Congress’s original intention and the new…

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Three Post-Election Legislative Impacts on Restaurants

With the 2020 election in the rearview mirror, businesses are looking forward to beginning 2021 with more clarity. Restaurants are particularly keen to understand what new legislative measures have passed or are on the horizon as they continue to navigate the acute—and devastating—impact of the coronavirus on the industry. Of most interest is the fate…

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Should Your Nonprofit Outsource Accounting? The Pros & Cons

As your nonprofit strives to use its resources as effectively as possible, you might at some point consider outsourcing the functions that fall under your accounting and financial umbrella. But wait: You’ll first need to weigh the possible benefits and pitfalls.

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