Whether your client is applying for a loan, attracting investors, or asset definition accounting preparing to sell, their asset base is a big part of how their business is valued. Characteristics of Fixed Assets When you’re ready, move ahead to the next lesson, where we define the second element of the accounting equation – liabilities. …
Your AGI is used to determine the amount of income tax you owe and certain credits for which you’re eligible. Your modified AGI is used to determine eligibility for other tax issues such as deducting contributions from a traditional IRA and eligibility to contribute to a Roth IRA. Taxable income is the portion of your …
How to Calculate Adjusted Gross Income AGI for Tax Purposes Read More »
Processing times vary greatly, but it typically takes the IRS between 3-9 months to review your submission and issue a determination letter. Identify the skills your nonprofit needs from its board members, such as experience in business, fundraising, or prior nonprofit leadership. Then, consider people in your network who might be interested in and passionate …
How to apply for 501c3 status Internal Revenue Service Read More »
