Hughey's Debits & Credits: Bookkeeping. Payroll. Taxes.

All posts tagged employee

During year endNonProfits Review-Year End Checklist- Accounting-Nonprofits-Hugheys Debits & Credits, we all need help remembering what all is required of us or is it just me? This checklist is to help my fellow Nonprofit Accountants remember what’s needed to close out the year. Follow this checklist to save time so you can spend it with your family during the holidays!

 

We strive to make your life easier, so if you would like this checklist in PDF form, click hereContact us today to assist you with your Nonprofit needs.

-Ronda

 

Employee or Contractor?

One of the largest expenses in your nonprofit is payroll and all that goes with it. In addition to payroll, you also have to pay payroll taxes, unemployment, leave, insurance benefits, and training.

On more than one occasion, a client has wanted to switch an employee to an independent contractor in order to save money. However, that decision is not mine or even yours to make. The Internal Revenue Service (IRS) determines the difference here in a more extensive definition while the Department of Labor only uses 6 determining factors here.

Like my clients, I am sure you do not have time to research the difference or read the monstrous qualifications detailed by the IRS. Therefore, I am going to give you my version of the difference in these top 3 points: Read more