For those NFPs that expend more than $750,000 of federal funds and are subject to the various requirements of the Uniform Guidance, there are some significant changes that are in effect. In addition to Uniform Guidance, other topics to keep up on include crypto, leases and credit losses.

Relocating to Florida (or other states with lower or no state income tax) offers a unique opportunity for substantial savings but requires careful planning to avoid potential tax liabilities stemming from a taxpayer’s former residence in a high-tax state during their employment.

The combined financial statements for the NJCPA and affiliates (NJCPA Education Foundation and NJCPA Scholarship Fund) for the year ended May 31, 2024, have been published.