by Pentacle-nextSteps | Jan 13, 2022 | Accounting for the Performing Arts, For 501(c)3 Arts Orgs, For Arts Administrators, For Individual Performing Artists
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 Sheet is an essential tool used by organizational leaders, Board of...
by Pentacle-nextSteps | Jan 7, 2022 | Accounting for the Performing Arts, For 501(c)3 Arts Orgs, For Arts Administrators, For Individual Performing Artists
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 over a specific accounting period. P&Ls reflect an organization’s...
by Pentacle-nextSteps | Aug 20, 2021 | Build Your Startup, For 501(c)3 Arts Orgs, For Arts Administrators, Taxes
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 completion of the service they provide while an employee’s...
by Pentacle-nextSteps | Jan 23, 2021 | For 501(c)3 Arts Orgs, For Arts Administrators, For Individual Performing Artists, Volunteers & Interns
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 about their work ethic and history: 1. Why did you apply for this...
by Pentacle-nextSteps | Jan 23, 2021 | Accounting for the Performing Arts, For 501(c)3 Arts Orgs, For Arts Administrators, For Individual Performing Artists
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 first step in any nonprofit audit or review is contacting an...
by Pentacle-nextSteps | Jan 14, 2021 | Accounting for the Performing Arts, For 501(c)3 Arts Orgs, For Arts Administrators, For Individual Performing Artists, Taxes
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 shortly after the calendar year ends. Any contractors who were paid...
