About Kristen

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Entries by Kristen

Do Churches Need Accountants?

The world of church accounting is vastly different from accounting for for-profit entities. There are many unique challenges facing religious organizations such as restricted donations, differences in financial reports, payroll for ordained ministers, and so forth. Churches may opt to try to handle this in-house, but below you’ll find several reasons why it may be […]

How Much Do Charitable Donations Reduce Taxes?

Charitable donations provide an excellent way for businesses and individuals to support their communities. Whether you make a monetary gift to a nonprofit entity or donate useful items to a religious organization, you’re helping improve the lives of others in need.  You can also benefit financially by making tax-deductible donations to a qualified organization that […]

Tax Facts to Know When Selling Your Home

Selling your home for a profit is an exciting opportunity. However, you should know a few things before you begin the process. This guide to taxes on selling a home will help you learn more about capital gains taxes and how to qualify for exemptions. Do I Have to Pay Taxes on Gains From Selling […]

Tax Tips for Starting a New Business

Starting a new business is no easy task — there are so many factors for new startup companies to consider. Between planning what type of entity structure you should be to ownership configuration, proper federal and state set-up and payroll, it’s difficult to know where to start and what you need. If it’s your first time building […]

Understanding Financial Statements

Financial statements are a significant player in projecting company growth, expenses and stockholder’s love when they see growth. Every business owner needs to understand how to digest their financial statements, from balance sheets to cash flow reports to the annual reports. Knowing how to successfully establish where your money goes, how it is coming in, […]

Differences Between For-Profit and Nonprofit Accounting

When starting a company, one of the first decisions you need to make is whether the business should be a for-profit company or a nonprofit organization. For some founders, the answer is immediately obvious. It makes sense for a company that wants to make money to be a for-profit business. For a company with a […]

Tips for Accounting Students From the Partners at Marshall Jones

As a college student, you have a lot of navigating to do when entering the workforce. That’s why the partners at Marshall Jones want to offer you some tips as an accounting major! Since beginning their own accounting careers, our partners have gained valuable knowledge, and they want to bestow their wisdom upon you. Consider […]

How to Review Your 5500

The Form 5500 is an annual report that is filed with both the IRS and the DOL. It has information that relates to the operation and compliance of a retirement plan, such as a 401(k) plan. If your company has a retirement plan, it will likely need to file this form every year. Typically, this […]

What Should a Non-Profit Board Ask of Their Auditor?

An audit is an independent review of your non-profit organization’s financial statements and records. The goal of an audit is usually to determine if a company is adhering to generally accepted accounting principles or GAAP. GAAP was created by the Financial Accounting Standards Board and is the standard used by the U.S. Securities and Exchange […]

401K Audit Checklist

Many employers are realizing the need to offer benefits to retain and recruit top talent. One of the most common benefits that we see used is the 401(k). There are many different styles of 401(k) plans, but all 401(k)s are designed for employees to contribute a portion of their income, for those contributions to be […]