Payroll for nonprofits adheres to principles that apply to employees and executives. First, nonprofits must consider payroll classifications. Do you hire direct employees or independent contractors? Ninety-five percent of the […]
Category: Nonprofit
Payroll Tax Rates and Contribution Limits for 2024
Below are federal payroll tax rates and benefits contribution limits for 2024. Social Security tax In 2024, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2023. The […]
Investment Oversight for Nonprofits
For nonprofit executives and investment committees, the number one priority always has been and always will be the organization’s mission. Doing good has never been more challenging. The responsibility of […]
IRS Changes Mileage Rates for New Year
According to an IRS statement, starting in 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: These rates apply to […]
Nonprofits and Independent Contractors
The most important first step to working with independent contractors is to understand how they differ from your employees. An independent contractor is an individual who performs services or work […]