We all know broadly what liability means. If you make a mistake, hurt someone, or owe someone, you're liable to them. However, there are a lot of different types of liability, and each ones comes with …
Reporting Unrelated Business Income
If you're a nonprofit with unrelated business income, you need to know how to report unrelated business income to the IRS. Nonprofit taxes are not fun. However, if you keep proper records, they can be …
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Gaming Activities Excluded From Unrelated Business Income
Sometimes nonprofits raise money using gaming activities. Normally revenue generated from these activities is subject to taxation because it's unrelated business income (UBI). However, the IRS may …
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Networking Tips for the Introvert
Networking as an introvert can be a challenging endeavor. However, you can do it. I'm an introvert, and I grew my business primarily with networking. At my peak, I was attending 7-10 networking events …
Unrelated Business Income
Unrelated business income (UBI) is something every nonprofit owner needs to know about. By default, income in a nonprofit is tax free. However, you may owe tax on certain income that is unrelated to …
What is an Intangible Asset?
An intangible asset is any asset that has no physical form. However, this asset does not include monetary assets. Goodwill Goodwill is basically just the value of a company that cannot be …