Concord CPA Services
A nonprofit board needs to understand how funds were used and what remains available. A professional practice needs to know whether collections will cover payroll and owner commitments. KAS helps Concord organizations turn accounting records into financial reports, tax filings, and cash forecasts through virtual engagements.
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Accounting for Concord Nonprofits and Professional Practices
Identify the annual reporting requirement early
New Hampshire’s charitable-trust rules require annual reports from registered organizations within their scope and additional financial statements for certain New Hampshire-based charities. The rules specify audited statements at annual revenue of $2 million or more for covered organizations other than private foundations, with an exemption-request process. We review the organization’s status, revenue, fiscal year, and funder requirements before scoping an engagement; grant terms can create additional reporting needs. New Hampshire charitable-trust reporting rules, Jus 404.
Show which funds are available to spend
A bank balance can include money restricted to a particular program or period. Retain grant agreements and donor instructions, track the related receipts and expenses, and reconcile reimbursements still due. We prepare schedules that explain restricted balances, program spending, and upcoming cash needs so the board can distinguish available operating cash from funds committed to other purposes.
Include local requirements in a fundraising-event budget
Concord lists charitable solicitation, raffles, and special events among its licensing activities. A fundraiser using streets or public space can require a different application from routine fundraising. Check the city’s requirements for the actual event, and keep approvals, vendor contracts, gross receipts, and expenses together. Those records help explain both the event’s financial result and the cash deposited. Concord fundraising and event licensing.
Review revenue beyond donations and grants
Tax-exempt status does not automatically exempt every revenue source. The IRS generally considers whether an activity is a trade or business, is regularly carried on, and is substantially related to the exempt purpose, while recognizing exceptions. Bring contracts and separate income and expense details for new activities so we can assess reporting questions before combining everything in one revenue account. IRS guidance on unrelated business income.
For professional practices, connect collections to tax planning
A for-profit practice has a different reporting path. New Hampshire Business Profits Tax can apply to business activity, and a federal S corporation election does not by itself remove the state filing question. We reconcile client receivables, expenses, payroll, and owner payments, then assess BPT, BET, and federal requirements using the completed records and the applicable filing thresholds. New Hampshire Business Profits Tax guidance.
How we scope the work
We start with the decision or filing you need to complete, the entities and people involved, and the deadline. After reviewing the available records, we identify missing information and propose the services and deliverables. For ongoing work, we establish a close and filing calendar so bookkeeping, tax projections, and owner reporting use consistent information.
For an audit or other assurance request, bring the lender, grant, board, or regulatory requirement. We confirm the engagement type and applicable professional requirements before accepting the work. Audit, review, and compilation engagements for New Hampshire entities are accepted under New Hampshire's CPA firm mobility rules.
CPA services for Concord clients
Audit and financial-statement engagements
Clarify the required report, applicable standards, independence, supporting schedules, and delivery date.
Board reporting and cash forecasts
Explain program results, restricted balances, receivables, and the timing of cash available for operations.
Accounting processes and internal controls
Improve reconciliations, payment approvals, grant tracking, and the information used in recurring reports.
Organization and practice tax filings
Coordinate the applicable information or income-tax returns with the entity’s status, activities, and accounting records.
Concord CPA questions
Does receiving a grant mean our Concord organization needs an audit?
The grant alone does not answer that question. We review the funding agreement, applicable state rules, federal award requirements if relevant, revenue, and fiscal year. An annual information return, a financial-statement audit, and a federal Single Audit serve different purposes. We establish the required work and evaluate professional requirements before accepting the engagement.
How do Concord clients work with KAS?
We provide virtual service through secure document exchange, scheduled video meetings, and electronic signatures. The engagement defines the services, responsibilities, and deadlines; this service area does not represent a walk-in office.
Ready to Get Started in Concord?
Schedule a complimentary consultation to discuss your Concord tax situation and how we can help you achieve your financial goals.