Workers Classification in the Performing Arts: Why Does It Matter?
May 19, 2022
Workers Classification in the Performing Arts: Why Does It Matter? NEXTSTEPS GUEST WRITER: STEFI GEORGE How You Classify Workers Can Make a Big Difference for Workers Compensation and Tax...
Understanding A Balance Sheet
January 13, 2022
Understanding a Balance Sheet What is a Balance Sheet? A Balance Sheet is a financial statement that summarizes the company’s assets, liabilities, and equity at a specific point in time. The Balance...
Understanding A Profit and Loss Statement?
January 7, 2022
Understanding A Profit and Loss Statement What is a Profit and Loss Statement? A Profit and Loss Statement (P&L) is a financial statement that measures the revenues, costs, and expenses incurred...
Employee versus Independent Contractor
August 20, 2021
Employee vs. Independent Contractor What’s the difference between an employee and an independent contractor? The payment for an independent contractor is performance-based and is determined by the...
5 Questions to Ask When Hiring an Intern
January 23, 2021
5 Questions to Ask When Hiring an Intern It’s key to ask an intern these questions before hiring them. Here are a few questions for employers to ask a potential intern, in order to learn...
5 Questions to Ask Your Auditor
January 23, 2021
5 Questions to Ask your Auditor What are the key questions to ask an independent auditor? Nonprofits are required to obtain an audit or review each year, depending on their budget size. The...
Checklist for Processing 1099’s and W2’s
January 14, 2021
Checklist for Processing 1099’s and W2’s End of Year Payroll Tax Forms: W2, 1099 Some of the most important payroll tax forms—W2 and 1099 forms—must be mailed out to your employees and contractors...
5 Ways That You Can Benefit From Fiscal Sponsorship
January 14, 2021
5 Ways That You Can Benefit From Fiscal Sponsorship Fiscal Sponsorship Has Both Financial and Administrative Benefits Fiscal Sponsorship has many financial and administrative benefits. Fiscal...
What is a 501(c)(3) Nonprofit?
November 16, 2020
What is a 501(c)(3) Nonprofit? 501(c)(3) Nonprofit In the arts industry, a common level of incorporation you may come across is a 501(c)3 not-for-profit. Under this incorporation, the nonprofit...