In July 2025, the Financial Accounting Standards Board (FASB) issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update is especially helpful for nonprofits, as it simplifies how organizations measure allowances for credit losses, an...
For nonprofits, audit readiness has evolved far beyond simply ticking a compliance box. It’s now a critical part of building strong leadership, earning the trust of supporters, and demonstrating responsible stewardship of every dollar. When your financial information is clear, accurate, and timely, it sends...
If you're near retirement — or already there — market dips hit differently. When you're still in your 30s or 40s, a downturn is just a blip on a long timeline. When you're in your 50s, 60s, or beyond? It feels a lot more personal. A lot more...
Navigating the labyrinth of return filing requirements for tax-exempt entities can seem daunting at first glance. However, understanding these requirements is crucial for maintaining your organization's tax-exempt status and ensuring compliance with the Internal Revenue Service (IRS). This comprehensive guide will walk you through the...
UNDERSTANDING REASONABLE CAUSE ABATEMENT Reasonable cause abatement is a provision that allows taxpayers to request the removal of certain penalties based on circumstances that prevented the taxpayer from complying with tax laws. This relief is grounded in the principle that, despite the taxpayer’s best efforts, compliance...
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When...
If you’ve ever wanted to slice and dice your financial data in QuickBooks® Online without changing your chart of accounts or creating new classes or locations, you’re in luck. The Tags feature in QuickBooks® Online offers an intuitive, flexible way to track transactions across any...
Kyle Eskens joined Blackman & Sloop in August 2024 as a Senior Auditor, primarily working with our Non-Profit sector and on Employee Benefit Plan audits. He was drawn to the firm for two key reasons: the ability to work fully remote while remaining in Nebraska —...
Here is what the firm has been up to since our last newsletter. We are honored to be named one of Accounting Today’s 2025 Best Firms to Work For. This recognition reflects our commitment to fostering a positive, supportive workplace where our team can thrive. We...
At Blackman & Sloop, internships are more than just a bullet point on a résumé — they’re immersive experiences that give future accounting professionals the opportunity to explore different service lines, connect with mentors, and make real contributions to the firm. This summer, we had...
