IRS Makes Rare Midyear Change to Mileage Rates
In Announcement 2026-11, the IRS has announced that starting July 1, 2026, the revised standard mileage rates are: (1) Business: 76 cents per mile (up from 72.5 cents per mile) (2) Medical and moving: 23.5 cents per mile (up from 20.5 cents per mile) The mileage rate that applies to the deduction for charitable contributions… View Article Read Entire Article
The Financial Case for Nonprofit Funding Diversity
No single funding source is reliable indefinitely. Shifts in government priorities, economic pressure on individual donors and changes in corporate giving strategies can all erode a funding stream that once seemed stable. Nonprofits that understand their options across the entire funding landscape are better positioned to absorb these shifts without compromising their mission. Individual giving… View Article Read Entire Article
QuickBooks: How to Set Up Customers and Vendors
The following steps will help you customize QuickBooks to best serve your particular business. First, you will have to define the type of business you own. Is it a service business, such as architecture, law, or medicine? Do you sell products, such as a retail or wholesale business? Do you have a combination of both,… View Article Read Entire Article
Improving Budgeting for Nonprofits
Boards and finance committees that treat the budget as a living document — rather than an annual ritual — tend to make better decisions under pressure. The focus should be not only on last year’s numbers but also on the potential impact of a major donor’s lapse, the disappearance of a government grant or the… View Article Read Entire Article
In Loving Memory of Robert Francis Xavier “Bob” Keeler
Former Siepert & Co., LLP partner, Robert “Bob” Keeler, passed away on Friday, October 2, 2026, surrounded by his family. Bob served in the United States Army from 1965 to 1967, including a year in Cam Ranh Bay, Vietnam. When his military service ended, Bob returned to the University of Wisconsin–Whitewater on the GI Bill… View Article Read Entire Article
Is an S Corporation Election Right for Your Business?
An S corporation is a tax election that changes how your business’s profits are treated. Instead of paying self-employment tax on your net income, you pay yourself a salary through payroll and take the remaining profit as distributions. While the salary is subject to payroll taxes, the distributions are not subject to Social Security and… View Article Read Entire Article
Newsflash: Enhancements to the Paid Family and Medical Leave Tax Credit
Here’s an overview of the employer credit for Paid Family and Medical Leave, including the recent changes. What is the employer credit for PFML? Employers who meet the requirements can claim a general business tax credit from 12.5% to 25% of wages paid to qualifying employees for up to 12 weeks of family and medical… View Article Read Entire Article
Are You Relying Too Heavily on Your Credit Cards?
A recent survey from Clever highlights how heavily Americans depend on credit cards. The study finds that 53% of respondents carry credit card debt, with an average balance of $7,719 among those individuals. That debt is not spread evenly across cardholders. About 32% of those with balances owe $10,000 or more, while 9% report debt… View Article Read Entire Article