Make It Count: How to Determine ROI on Fundraising Events

If your not-for-profit has over $15,000 in fundraising event contributions and gross income, then it will probably be required to report the events on Schedule G with the 990. Use the PBMares Accounting for Fundraising Events Tool to compile the information needed to complete the reporting on Schedule G.

2019-07-24T19:22:04-04:00January 23, 2019|Categories: Accounting, Not-for-Profit|Tags: , , |

Does My Rental Real Estate Qualify for the Section 199A (QBI) Deduction?

On Friday, January 18, 2019, the Treasury Department issued Final Regulations for 199A and IRS Notice 2019-07, which provided a safe harbor for rental real estate enterprises.  Rental activities that meet each of the following tests can be considered Section 162 trades or businesses for purposes of Section 199A, and are thus eligible for the 20 percent deduction.

2019-03-19T15:45:32-04:00January 21, 2019|Categories: Accounting, Tax: Business|Tags: , , , |

Virginia Tax Conformity and Its Impact on 2018 Filings

Every year, passing tax conformity legislation in the General Assembly is an important issue for Virginia taxpayers, and failure to pass conformity early in the legislative session can cause severe disruption and delay in filing returns and receiving timely refunds.

2019-02-28T21:17:05-05:00January 21, 2019|Categories: Tax: Business, Tax: Individual, Tax: State & Local|Tags: , |