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Sep
10

Community Health Systems (CHS), the largest for-profit hospital company in the U.S., recently announced a massive patient data breach due to an unprecedented malicious software (a.k.a. malware) attack. Per CHS’ disclosures, in April and June of 2014 the company experienced sophisticated malware attacks from a group that may have originated in China. Names, addresses, and….

Sep
08

Not-for-profit organizations that file inaccurate or incomplete Form 990s are more likely to be selected for IRS reviews. The scope of an IRS review depends on the type of review, but organizations can expect the IRS to dig deeper into the following areas: Whether the organization filed all returns and forms as required by law….

Sep
05

The saying “don’t put all of your eggs in one basket” might be out of pace with modern society, but the wisdom behind the statement still stands. For manufacturing and distribution companies, it’s similar to putting all sales expectations and company potential into a single large client. When a company relies on a single large….

Sep
03

Don’t Get Caught in the Web: Online Tax Traps Impacting Nonprofit Organizations

 

Not-for-profit online activities continue to grow at a rate of approximately 12% annually. The IRS is taking notice as they consider these activities to be official vehicles of communication. Watch as Matt Gunning and Scott Ferguson discuss how online activities can affect unrelated business income and how an organization can stay true to their mission online.

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Aug
29

Which came first: the contract or the excluded expense? In the government contracting coop, it doesn’t matter. Government contractors must segregate and allocate allowable direct and indirect costs charged to government contracts. However, certain costs are excluded pursuant to Federal Acquisition Regulation (FAR 31). Contractors doing business with the U.S. Government, should become familiar with….

Aug
25

Addressing the Elephant of Big Data

 

Each internet browsing session, cellular call, and credit card swipe leaves a data fingerprint. Multiply those activities by the world’s population of 7 billion, and the amount of potentially available data is overwhelming. However, businesses with the ability to aggregate this “big data” have a unique advantage in serving their customer base. Watch as Mike Scott and David Mills discuss the elephant in the room that’s exponentially growing – big data – and how your business might benefit from utilizing it.

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Aug
22

You are what you are. In the nonprofit world, that means an organization is either a public charity or a private foundation. In other words, you can be a horse or a zebra — but you can’t be both. The Default Setting In the eyes of the IRS, the default setting for a 501(c) (3)….

Aug
18

The USDA recently released its annual Cost of Raising a Child report. 2013 babies will cost their parents nearly a quarter of a million dollars by the time they reach the age of 18. That figure jumps to approximately $304,000 when adjusted for inflation.