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: |

Sales Tax Considerations for Exempt Organizations

The application of sales and use tax to the activity of exempt organizations is complex and nuanced. State tax and exempt organizations specialists explain what you need to know.

2023-04-26T17:30:48-04:00April 18, 2023|Categories: Not-for-Profit, Private Clubs, Tax: Exempt Organizations|Tags: |

IRS Makes Statements on CARES Act Employee Retention Tax Credit Risks

Last year, the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.

2023-02-15T14:36:39-05:00February 1, 2023|Categories: Tax: Business, Tax: Exempt Organizations|Tags: , , |

§179D Energy-Efficient Commercial Building Deduction Expanded to Benefit Non-Profit Organizations

For businesses contemplating a commercial project, the §179D deduction, a provision from the Inflation Reduction Act, is now available for any qualifying commercial energy-efficient building.

Free Resource Guides for Nonprofits

The VSCPA has released four free resource guides for nonprofit organizations to aid them in financial matters. Updated by specialists on the PBMares Not-For-Profit Team, topics include budgeting, income tax issues, responsibilities and risks, and auditing.

2022-10-11T12:02:05-04:00October 4, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|

Unrelated Business Taxable Income Reporting for Partnerships

UBTI reporting for exempt organizations can be challenging. Exempt organizations investing in partnerships should ensure that the K1 reporting from the partnership provides the information necessary to ensure correct reporting.

2022-08-26T14:02:16-04:00August 24, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|Tags: |
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