Key Takeaways Church financial controls should split custody, approval, recording, and review so no one person can receive, spend, record, and reconcile funds without an independent check. Small churches can still build meaningful controls by using trained volunteers,...
Key Takeaways The valuation a buyer assigns depends less on the number you have in your head and more on how well your financials, operations, and customer relationships hold up under due diligence. Owner-dependent operations, customer concentration above defensible...
Key Takeaways Ohio taxes “business income” and “non-business income” differently, and for owners selling a closely held company, the classification can swing the tax bill by hundreds of thousands of dollars. For years, the Ohio Department of...
Key Takeaways Under GAAP and ASC 958 (Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) 958), churches must classify all net assets as either with donor restrictions or without donor restrictions, and the distinction carries...
Key Takeaways California’s new budget bill, S.B. 122, expands the state’s sales and use tax base to include prewritten software (whether it’s delivered physically, downloaded electronically, or accessed remotely as SaaS) Until now, California was one...
