Accountable plans reimburse employees for work-related expenses free of federal income and employment taxes. So reimbursement payments aren’t subject to withholding from staffers’ paychecks. Your not-for-profit also benefits because the reimbursements aren’t subject to the employer’s portion of federal employment
Pannell Kerr Forster of Texas PC
Pannell Kerr Forster of Texas, P.C. (PKF Texas) is a Houston-based firm of CPAs and professional advisors focused on delivering solutions to clients at every stage of business.
Website:
http://www.pkftexas.com/
Latest from Pannell Kerr Forster of Texas PC - Page 4
Tax Implications for Business Owners Getting a Divorce
By Martin Euson
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it.…
Your Retirement Plan, Third-Party Providers and You
By PKF Texas
Jen: This is the PKF Texas – Entrepreneur’s Playbook®, I’m Jen Lemanski, and I’m here with Kelly McDonald, an audit manager and a member of our employee benefit plan audit team. Kelly, welcome to the Playbook.
Kelly: Good…
Mark Your Calendars! Upcoming September 2021 Houston Events…
By PKF Texas
As trusted business advisors, we enjoy working with you to co-create ideas and co-develop smart business decisions. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and think may…
Recap: 2021 Accounting and Tax Updates and Changes for Not-for-Profits Webinar
By PKF Texas
We had record-breaking attendance to our webinar, “2021 Accounting and Tax Updates and Changes for Not-for-Profits,” on August 25, 2021! According to a polling question, 60% of attendees were not-for-profit executive team members. We were bummed to move the seminar…
Does Your Not-for-Profit Have an Internal Controls Gap?
By Nicole Riley
The typical defrauded not-for-profit loses $75,000 per fraud incident, according to the Association of Certified Fraud Examiners. And that doesn’t account for the negative publicity and subsequent lost donations and support that often follow fraud. Although no preventive measure is…
How ABLE Accounts Help Disabled Family Members
Are you familiar with Achieving a Better Life Experience (ABLE) Accounts? There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which…
Pursuing Capacity Building for Your Not-for-Profit
Economic instability caused by the pandemic may have your not-for-profit scrambling to find funding. But just as important is making internal adjustments that build your not-for-profit’s capacity to fulfill its long-term mission. However, you may want to tweak the standard…
The Benefits of the Employee Retention Credit
By PKF Texas
Jen: This is the PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Roland Robb, a member of our business advisory team. Roland, welcome back to the Playbook.
Roland: Hi, good to be back.
Jen:…
Scholarships: Tax Free but May Result in Taxable Income
By Emily Smikal
If your child is fortunate enough to be awarded scholarships, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, middle and high schools, as well as those attending college, graduate…