Lindsey K CPA

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Longstanding nonprofits often benefit from stability, strong funding and loyal supporters. But longevity brings its own ...
04/29/2026

Longstanding nonprofits often benefit from stability, strong funding and loyal supporters. But longevity brings its own challenges. A common one is “founder’s syndrome.” As nonprofits grow, leadership needs evolve. Yet founders and other long-tenured leaders may struggle to relinquish control or adapt to changing organizational needs. Addressing this requires open dialogue, clear governance policies and a willingness to prioritize the organization’s future over individual roles. By watching out for challenges like this and tackling them, you can keep your mature nonprofit on target.

Visit our nonprofit blog at LindseyKCPA.com> More to read the full article

Oh boy, another tax question where the answer is "it depends!" 😉Your federal income tax payments are not deductible. Per...
04/27/2026

Oh boy, another tax question where the answer is "it depends!" 😉

Your federal income tax payments are not deductible. Period.

State and local taxes (like your state income or property taxes) can be deductible if you itemize your deductions (up to the SALT cap, ask your accountant about this). If you pay a lot of these and you're a business owner, it may be worth asking your accountant about a PTET too!

If you're self-employed, half of your SE tax is deductible as an adjustment to income.

If you own a business, certain taxes, like payroll, unemployment, and business property taxes, may be deductible through your business.

Basically, even with such a simple question, there's no such thing as a simple tax answer (aka why I have a job!). 🤷

Balance sheets are almost always overlooked by small business owners and small nonprofits...Which is kind of a big deal ...
04/24/2026

Balance sheets are almost always overlooked by small business owners and small nonprofits...

Which is kind of a big deal because your balance sheet (let's go with BS for short) can hide a whole lotta BS if your books have errors.

Within the first five minutes of digging into a balance sheet, I can find problems like:

→ Cash balances that don't match your bank statements
→ Missing sales tax liability accounts
→ Loan repayments that aren't being properly recorded
→ Credit cards with negative balances

Most small businesses and nonprofits live in their P&Ls, but you're basically begging for trouble if you keep ignoring your balance sheet.

When a nonprofit’s finance committee functions effectively, it does more than monitor budgets and financial statements —...
04/22/2026

When a nonprofit’s finance committee functions effectively, it does more than monitor budgets and financial statements — it strengthens the organization’s overall governance. An effective finance committee generally should be involved in: 1) board communication about finances, 2) budgetary planning, 3) financial reporting, 4) internal controls, and 5) financial resource administration. If an organization doesn’t have a separate audit or investment committee, it should be involved with those functions as well. Contact us for help. We can review your finance committee’s structure and suggest possible improvements.

Visit our nonprofit blog at LindseyKCPA.com> More to read the full article

Donate to a cause you believe in AND get a write-off?Sounds like a great deal for most taxpayers, but here are a few rea...
04/20/2026

Donate to a cause you believe in AND get a write-off?

Sounds like a great deal for most taxpayers, but here are a few reality checks:

In the past, you HAD to itemize your deductions in order to deduct your charitable contributions.

Starting in 2026, if you don't itemize, you can deduct up to $1,000 ($2,000 MFJ) of cash contributions to qualifying organizations.

Which brings me to my next point: not all charitable contributions are deductible.

Donations to an individual?

While they may have been charitable in nature, you can't deduct those.

And what about those tickets you bought for your favorite charity's gala?

The tax-deductible portion is the amount that exceeds any value you got from the tickets (like dinner + drinks).

Deducting your charitable giving can get tricky fast, but I'm here to make sure you don't mess it up!

Your bank account is GREAT at doing one thing: showing exactly how much money your business has at this point in time. 💰...
04/17/2026

Your bank account is GREAT at doing one thing: showing exactly how much money your business has at this point in time. 💰

But your P&L helps answer the hard-hitting questions, like:

"Is this business actually profitable?"

"How much can I afford to pay myself?"

"Where am I spending the most money in my business?"

If you want to take charge of your business, you need to be using BOTH of these things to inform your decisions.

Nonprofit organizations often juggle multiple programs, funding sources and staffing structures, making accurate time tr...
04/15/2026

Nonprofit organizations often juggle multiple programs, funding sources and staffing structures, making accurate time tracking essential. Furthermore, federal and state wage and hour laws require certain records be kept, and grant-makers may impose additional reporting standards. But strong timekeeping practices do more than satisfy compliance requirements. With accurate data, organizations can better evaluate program costs, improve budgeting and make informed decisions about future initiatives and funding opportunities.

Visit our nonprofit blog at LindseyKCPA.com> More to read the full article

Not ready to file your personal return (aka Form 1040) just yet?The deadline (for most taxpayers) to file your extension...
04/13/2026

Not ready to file your personal return (aka Form 1040) just yet?

The deadline (for most taxpayers) to file your extension this year is April 15th! 📆

But before you extend and call it a day, make sure you know this: if you owe any taxes, they're still *due* on April 15th.

But Lindsey, how do I know how much to pay in taxes if I haven't filed my return?

Really good question! Swipe for my tips on how to get a decent estimate of your extension payment. ➡️

One of my tax clients reported losses for THREE years straight... They were very legitimate losses, but we had to get ve...
04/10/2026

One of my tax clients reported losses for THREE years straight...

They were very legitimate losses, but we had to get verrrry detailed on their documentation because this is the kind of pattern that flags the IRS's hobby radar.

The IRS has a nine-factor test for deciding whether you're running a business or just an expensive hobby (swipe to learn the tests). ➡️

Because the thing with hobbies is, you don't get to deduct those related expenses on your tax return anymore!

Accountability may sound like a management buzzword, but when nonprofits embrace it, it can transform the organization. ...
04/08/2026

Accountability may sound like a management buzzword, but when nonprofits embrace it, it can transform the organization. The process begins with leaders who own their outcomes (whether successes or setbacks) and prioritize ethical conduct, top-down governance and transparent communication. This proactive culture of accountability ripples throughout the organization, strengthening trust, improving collaboration and boosting mission-driven results.

Visit our nonprofit blog at LindseyKCPA.com> More to read the full article

Address

333 N Rivershire Drive, Ste 285
Conroe, TX
77304

Website

http://www.LindseyKCPA.com/

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