Tax-exempt nonprofit employees are still subject to employment taxes, and your nonprofit could still be subject to sales, real estate and other taxes depending on which state it’s based in. One major difference between the statement of activities and the income statement government and nonprofit accounting is that instead of [...]

Unlike private sector entities that operate as a single entity, government organizations often manage multiple funds, each with its own specific purpose and restrictions. This approach allows for greater transparency and accountability, law firm chart of accounts as it clearly delineates how different streams of revenue are utilized. Governmental financial [...]