The global market for human resources outsourcing was approximately $32.8 billion in 2020 and is projected to rise to $45.8 billion by 2027, according to market research company Reportlinker. Should your not-for-profit join the many organizations that have already determined that HR outsourcing makes financial and operational sense?

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Here’s what you should consider before acting.


Continue Reading Is Your Not-for-Profit Considering HR Outsourcing?

Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment expenses for the production of income.

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But they’re deductible if they’re considered trade or business expenses.


Continue Reading Can Taxpayers Who Manage Their Own Investment Portfolios Deduct Related Expenses?

Collective impact projects are collaborations between not-for-profits, government, businesses and communities with the goal of achieving challenging and complicated social objectives. They can succeed in ways that simply aren’t available to individual organizations.

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But they also require a level of commitment your not-for-profit may not be prepared for.


Continue Reading Collaborating on Collective Impact Projects

If you’re a business owner hiring your children this summer, you can obtain tax breaks and other nontax benefits.

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The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to:

  • Shift your high-taxed income into tax-free or low-taxed income,
  • Realize payroll tax savings (depending on the child’s age and how your business is organized), and
  • Enable retirement plan contributions for the children.


Continue Reading The Tax and Nontax Benefits of Hiring Your Children

Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April, according to the U.S. Bureau of Labor Statistics. But that’s expected to change quickly as employers ramp up hiring activities. If your not-for-profit will soon need new staffers, you might want to start putting out feelers now.

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Obviously, the decision to hire is a difficult one considering the economic uncertainty that may remain. But you also don’t want to miss out on the best talent. Here are some issues to consider.


Continue Reading Considerations for Hiring New Not-for-Profit Staffers

As the COVID-19 pandemic finally seems to be fading in the United States, your not-for-profit organization may be making plans for its post-pandemic future. Is a merger with another not-for-profit part of these plans?

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A merger can provide your organization with greater stability and resilience so that you can survive any new challenges that comes your way. But a merger isn’t always the best solution if, for example, you’re looking for a financial rescue. Here’s a rundown of good — and bad — reasons to join forces.


Continue Reading Is Your Not-for-Profit Thinking About a Merger?