A New Way to Deduct Your #GivingTuesday Donations

The Tax Cuts and Jobs Act significantly reduced the number of taxpayers who itemize deductions (meaning those who actually see a tax benefit for donations made) beginning with the 2018 tax year. 

2020-11-30T11:05:43-05:00November 30, 2020|Categories: Not-for-Profit, Tax: Individual|Tags: , , |

Taking a Closer Look at Travel Programs Sponsored by Nonprofits

Most of us have been solicited by a nonprofit association to take advantage of their travel tour programs.  You look through any association publication and you will find advertisements for various sponsored travel tours.

2020-09-15T10:50:01-04:00September 15, 2020|Categories: Not-for-Profit|Tags: |

Final Regs. Address Payments to Charities in Return for SALT Credits

Amendments to section 162, 164, and 170 regs. formalize safe harbors for payments to charitable organizations in exchange for SALT credits.

2020-08-19T18:02:38-04:00August 18, 2020|Categories: Not-for-Profit, Tax: State & Local|Tags: , , |

Changes to Not-for-Profit Reporting Requirements of In-Kind Contributions

When it comes to charitable donations, cash might be king, but in-kind contributions play a vital role, too. Donated services and tangible or intangible goods can be sources of revenue and cost savings.

2020-07-14T10:10:40-04:00July 14, 2020|Categories: Accounting, Not-for-Profit|Tags: , , |

Changes to Donor Disclosures for Exempt Organizations

On May 28, the Treasury and the IRS released final regulations (T.D. 9898) updating information reporting regulations under section 6033 that are generally applicable to organizations exempt from tax under section 501(a).

2020-06-16T13:03:47-04:00June 16, 2020|Categories: Not-for-Profit|Tags: , |

Impact of Changes to Unrelated Business Taxable Income for Exempt Organizations

The IRS recently issued proposed regulations regarding separately computing UBTI for each trade or business activity that could increase a not-for-profit’s tax exposure and liability.

2020-05-19T13:08:45-04:00May 19, 2020|Categories: Not-for-Profit|Tags: , , |
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