Unlike the single-step income statement that uses only one accounting equation to compute the net profit, businesses will need to use multiple accounting equations to derive at the bottom line. In contrast to a multi-step income statement, the Dana Incorporated income statement is single-step mainly. The income statement doesn’t show Gross profit, separate and calculate […]
What is Multi Step Income Statement A Complete Guide
Published: December 15, 2022
When Should You Start Your Nonprofit?
Published: November 1, 2022
When Should You Start Your Nonprofit? Now that you have a general understanding of what it takes to form your nonprofit, you’re probably wondering “how soon should I get started?” My law firm has many clients ranging from college students to executives, startup companies, community organizers, and professional athletes to Fortune 500 companies. Yet, the […]
Can You Incorporate A Nonprofit & What Does it Mean
Published: October 14, 2022
Should You Incorporate Your Nonprofit? After hearing all of the great ways that you can start small with giving back through your 501c3 nonprofit, you may be thinking “Do I even need a 501c3 nonprofit?” Can’t I just volunteer or donate my resources and services? Isn’t it easier to just avoid all of the headache […]
How Much of A 501c3 Is Tax Deductible?
Published: August 30, 2022
Are 501c3 donations tax deductible? Donors that give to 501c3 nonprofits can receive a tax write-off for donations they make to qualified tax-exempt nonprofits throughout the course of the year. Qualified 501c3 tax-exempt nonprofits can buy items that help further their charitable purpose without being required to pay sales taxes on those items. 501c3 nonprofits […]
