Not-for-Profit organizations face many challenges while trying to keep up with financial and tax reporting compliance matters. At LB Carlson, we provide various compliance services to Not-for-Profit organizations and help keep our clients up to date with changes in reporting requirements.
A trusted partner to Not-for-Profit Organizations
Our Not-for-Profit clients offer services such as home and community-based support for persons with disabilities and food and support programs for under-served communities. In addition, we also serve a variety of associations that provide programs and services to their members.
Working with a business advisor like LB Carlson can help your organization make confident, strategic decisions that help you fulfill your mission and change lives in the communities you serve.
How we can help you!
We provide the following services to our Not-for-Profit Clients:
Passionate about your Organization’s Success
LB Carlson is much more than a CPA firm offering traditional services. Our not-for-profit team is highly accessible and committed to providing year-round guidance that helps your organization remain steady in today’s unpredictable environment. Our technical competence, extensive industry expertise, and understanding of how your organization operates allows us to ask the right questions, provide thoughtful recommendations and solutions tailored to your specific needs.
The distribution of economic impact payments is expected to begin in the next three weeks and be available throughout the rest of 2020. With so much news circulating, it can be difficult to keep tabs on the latest updates. We also recognize it can be challenging to separate the legitimate updates from speculation. Below we have put together a summary of what we know so far about the economic impact payments.
The President signed the latest COVID-19 relief bill on March 27: The Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill brings with it several elements of relief for businesses, employees and families, in an effort to maintain livelihoods throughout the crisis and after. The expected cost of the bill is nearly $2 trillion and includes nearly $500 billion for in economic distress relief for businesses, states and municipalities.
The IRS has announced that employers required to provide emergency paid sick leave and emergency paid family and medical leave under the Families First Coronavirus Response Act (the Act) can begin taking advantage of two new refundable payroll tax credits. Equivalent credits are available to self-employed individuals based on similar circumstances.
The COVID-19 virus has made fast, drastic changes to how we live and work. State-mandated business closures are creating challenges and generating many questions on how to preserve business continuity during this period. On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA), which takes effect on April 2. The bill expanded paid sick leave and unemployment benefits, impacting employees and employers, among other provisions.
Qualified small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called for an additional $50 billion in funding to the SBA’s lending program from Congress in response to COVID-19. While the SBA waits for the $50 billion to be approved, they can deliver an Economic Injury Disaster Loan declaration in response to the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by the president.
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are…
