December 2020
Featured Article From Our Experts
Not-For-Profit Financial Reporting FAQs

Not-for-profit donors often rely on financial information to monitor the organization's adherence to budgets, laws and regulations before they donate. But is an annual independent audit needed? In this article, we will review the answer to this question and other commonly asked questions regarding financial reporting for NPOs. 
What’s Your Taxpayer Filing Status?
For many, December 31 means a New Year’s celebration. From a tax perspective, however, it should mean thinking about which filing status you will use for that year’s tax return. This article reviews the five statuses. A sidebar also looks at whether a married person can file as a “head of household.”
Intrafamily Loans and a Family Bank
Because of the COVID-19 pandemic, many people have family members who are struggling financially. For those with wealth to share, making an intrafamily loan or establishing a family bank could be a way to help. This article explains the importance of carefully structured intrafamily loans and why a family bank might be a logical step. 
Businesses Should Review Sales Tax Laws
Most states with a sales tax have enacted “economic nexus” laws that expand the reach of their sales tax collection activities beyond their borders. This article urges businesses to reassess their sales-tax compliance obligations, especially as online transactions soar because of the COVID-19 crisis.
Register for Our Virtual Nonprofit Conference
on January 13, 2021!
Join us for our Virtual Nonprofit Conference. This conference is designed to provide valuable insight on the financial and operational issues facing the nonprofit industry and to help you become more effective in managing your organization or serving on a board.
 

About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. Throughout this forty plus years' history, we have been wholly dedicated to the success of our clients. Every aspect of our business has been guided by our values and our commitment to putting each client's interests first. In a complex profession, we have found our greatest rewards in the simplicity of helping good people prosper. Delivering confidence in every financial decision is our goal for our clients and it's also the most significant way we can contribute to their long-term success.

To learn more about Dannible & McKee, visit us at: www.dmcpas.com