Nonprofit Payroll Software Series
Nonprofit W-2 preparation is basically the same as for-profit businesses, but with some additional considerations based on the type of nonprofit you are (more on that below). Like any other business, nonprofits and their employees are subject to payroll taxes even though 501(c)(3) charitable organizations are exempt from paying income taxes.
Organizations can now run their nonprofit payroll online as part of Araize’s FastFund Online Nonprofit Software.
When it comes to nonprofit payroll expenses, such as salary and payroll taxes, understanding direct cost allocations can help your organization become more compliant and accountable.
Nonprofit payroll presents many challenges compared to for-profit business payroll. One of the big areas of confusion involves whether nonprofits are required to pay payroll taxes.