Nonprofit Advertising Rules: Periodicals and Unrelated Business Taxable Income

Nonprofits can generate revenue from their periodicals through advertising; while this type of revenue is considered to be an unrelated trade or business activity, it might not always be taxable. The key is to understand the relationship between certain costs and types of income.

2023-07-26T16:28:05-04:00July 25, 2023|Categories: Not-for-Profit|Tags: |

Overview of the New Renewable Energy Tax Credit under Section 48

The Inflation Reduction Act modified or introduced several energy efficient tax incentives, like the newly created Section 48(e) renewable energy investment tax credit. The base amount can be increased by several optional bonus credits.

GILTI: An Overview

US citizens and tax residents who have formed — or are considering forming — a corporation in a foreign country may be impacted by global intangible low-taxed income (GILTI). The tax implications and considerations are complex. Understanding GILTI is important for making informed decisions for yourself and your business structure.

Nonprofit Advertising and Sponsorship Rules

Nonprofits can run into issues when they accept advertising or sponsorship dollars if they don’t know the rules of unrelated business income tax. Knowing the difference between the two scenarios can help to minimize or manage tax liability.

2023-07-26T16:31:01-04:00July 12, 2023|Categories: Not-for-Profit, Tax: Exempt Organizations|Tags: |

Understanding the Service Contract Act (SCA) for Government Contractors

As a government contractor, understanding your obligations under the Service Contract Act (SCA) is essential. In this blog post, we will provide you with an overview of the SCA, including its requirements and challenges when implementing the standard. We will also discuss how compliance can be achieved and the risks associated with noncompliance.

2023-07-11T16:12:09-04:00July 11, 2023|Categories: Government Contracting|Tags: |

IRS Releases Rules for Tax-exempt Entities to Monetize Inflation Reduction Act Credits

Tax-exempt entities may monetize credits under the Inflation Reduction Act under these rules that the IRS released.

2023-07-05T19:08:33-04:00July 6, 2023|Categories: Not-for-Profit|Tags: , |

FTC Issues Consumer Alert on Franchising Myths for Potential Investors

The FTC recently issued a consumer alert on the five most troubling myths about investing in a new franchise.  Potential franchise investors should consider these myths when evaluating potential investments. 

2023-06-29T11:08:11-04:00June 29, 2023|Categories: Business Advisory, Hospitality, Restaurants|Tags: |

Tax Impacts on Leases under ASC 842

Most conversations around lease accounting changes have been about GAAP compliance, so less is known about the tax impact of ASC 842. There are many considerations, and extra calculations may be needed to reconcile the tax and book impact of leases.

2023-06-27T17:53:05-04:00June 28, 2023|Categories: Construction and Real Estate|Tags: |
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