Why It Matters How You Set
Up Your Nonprofit
The IRS leverages specific revenue and expense classifications to ensure that your organization retains its tax-exempt status. Therefore, it is so crucial to build your accounting system around revenue and expense classifications.
To do this, you need to take the following steps.
- Review & Compile Your Financial Statements
- Design, Install and Maintain Your Accounting System
- Offer Weekly, Bi-Weekly, or Monthly Payroll Preparation
- Payroll Tax Preparation and Deposits s
- Offer Training for Your Accounting Personnel
- Prepare and file the 990 and 990T Tax Forms
- Prepare and file 941 and 940 Payroll Tax Forms
- Prepare the Initial Start-up Documentation, such as incorporation, federal employee identification number (FEIN), and even payroll setup for both state and federal agencies.
- We work with churches to prepare pastoral housing allowance and other benefit documentation to match the complex dual status of minsters.
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Free Consultation
Learn more about our nonprofit services by scheduling your free consultation today.