Ed Yoder has devoted over two decades to the profession of public accounting. He has a long-standing affinity for helping clients make sense of their debits and credits, showing how they fit together to tell the organization’s financial story.
Ed appreciates the clarity with which accounting serves as the language of business and relishes the opportunity public accounting provides him to assist clients in both solving everyday problems and getting to the bottom of complex accounting challenges they may be facing.
It was back in high school and college when Ed first found that accounting just made sense to him, and the field has held his interest ever since. He was attracted to the nonprofit niche because of the invaluable services these organizations provide, making our community a better place. The tremendous variety of not-for-profit entities offers challenging work that keeps him engaged. In addition, he observes that the passionate people that choose to work for nonprofits are high-quality individuals who are a pleasure to work with.
Outside of his professional work, Ed devotes substantial time to supporting various community organizations. He serves as treasurer for several not-for-profits in Harrisonburg and Rockingham County.
- American Institute of Certified Public Accountants
- Virginia Society of Certified Public Accountants
- Associates of Arts from Hesston College in Hesston, Kansas
- Bachelor of Science in Accounting from Goshen College in Goshen, Indiana
- Master of Accountancy from the University of South Florida in Tampa, Florida
Changes to the Electric Vehicle Credit
The Inflation Reduction Act passed by Congress on August 16, 2022, included several energy efficiency tax credits and rebates. The Act amended the Qualified Plug-in […]
§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.
IRS Warns of Employee Retention Credit Fraud
The IRS recently warned employers to beware of advertisements and solicitations that promise tax refunds that seem too good to be true. They promise business owners lucrative tax refunds from the Employee Retention Credit through filing amended payroll tax returns.
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.
How to Register a Charity in Virginia, Maryland, and North Carolina
Starting a nonprofit often requires registering with the state before the organization can fundraise. States like Virginia, Maryland, and North Carolina all have different rules and requirements for nonprofit registration.
What’s Going on at the IRS? Problems and Steps to Improve Service
2021 was described as the worst year ever for the IRS. Several compounding problems, exacerbated by COVID-19, led to a historic backlog. Now, the agency is taking steps to improve service.
Did You Miss Out on the Employee Retention Tax Credits?
Many employers do not realize they could benefit from the ERC. As businesses close their books and records for 2021 and begin to work on tax compliance, it is a good opportunity to revisit the ERC to clear up any confusion that may exist.
New Schedule A for Form 990T
The IRS has overhauled the 2020 Form 990T “Exempt Organization Business Income Tax Return” and created a new Schedule A “Unrelated Business Taxable Income From an Unrelated Trade or Business” to allow reporting of separate unrelated business activities.
IRS Issues Electronic Filing Mandate for Form 990-T
On March 15, 2021, the IRS announced in an e-News Update for Charities & Nonprofits that mandatory electronic filing of 2020 Forms 990-T has commenced.
IRS Issues Electronic Filing Mandate for Form 990-EZ
On July 15, 2021, the IRS announced in an Exempt Organization update the electronic filing mandate for Form 990-EZ.
American Rescue Plan: What Does It Mean?
The American Rescue Plan Act (the Act) s provides a number of items to help aid economic recovery out of the coronavirus pandemic. Read on for a summary of the Act’s provisions.
Social Clubs Now Eligible for PPP Loans
The American Rescue Plan Act finally gives 501(c)7 Social Clubs the opportunity to apply for Payroll Protection Program (PPP) loans. But you better act fast because the funding for the second round of the PPP loans closes on March 31, 2021.
Non Member Revenue Reporting Requirements
At the end of last year, many clubs received the exact same form letter from the IRS, Letter 6176 (4-2019) Catalog Number 72211B. The letter appears to have been generated by the IRS and sent to many 501(c)(7) exempt organizations reporting nonmember income regardless of the nonmember percentage of gross receipts.
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.
New Proposed Regulations for UBTI Will Impact Private Clubs
How could a change in the tax law passed in 2017 have a substantial impact on clubs today? Given the recent business disruptions caused by the coronavirus, unrelated business income might not seem like a big deal.
How the CARES Act Helps Non-Profits
The Senate and the House of Representatives have both passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The bill provides $2.2 trillion of Federal funds to keep the economy functioning. But what is in the law to aid Non-profits?
IRS Issues Tax Extension Guidance for Taxpayers
On March 13, 2020, the President of the United States issued an emergency declaration under the Stafford Disaster Relief and Emergency Assistance Act in response to the ongoing Coronavirus Disease pandemic.
Changes to Net Operating Losses of Unrelated Business Activities for Nonprofits
Nonprofits are now required to silo Net Operating Losses (NOLs) from one unrelated business activity so that it doesn’t create a reduction of taxable income from another profitable unrelated business activity.
SECURE Act Impacts Retirement Planning
President Trump signed the latest federal government spending bill on Friday December 20, 2019. The bill includes many tax law changes and extends several expired provisions. The bill also incorporates the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Read on for three changes from the SECURE Act that all taxpayers should know.
Repeal of Nonprofit Parking Tax Announced
Congress has passed a $1.4 Trillion spending bill to avoid a government shutdown which includes a repeal of the tax on nonprofit organizations that provided qualified transportation fringe benefits, otherwise known as the “parking tax”. Any nonprofit that may have paid tax on the transportation fringe benefits should file an amended 990T to claim a refund of the taxes paid.
Nonprofits Subject to High Tax Over Executive Compensation
The tax reform bill of 2017 brought changes to the deductible amount from a for-profit company and now nonprofit executive’s compensation deductions are changing, too. Code section 4960 further explains the 21% excise tax on the amount of compensation paid by an applicable tax-exempt organization, ATEO.
Tax Consequences for Tax-Exempt Social Clubs
While a club may be tax-exempt, it may be subject to tax on its unrelated business activities. Read on to learn more as well as to download PBMares’ “Member Function Questionnaire” for help in gathering the information required by the IRS.
Tax Status: The Grass Is Not Always Greener
Read more on the benefits and drawbacks private clubs must consider when deciding whether to operate as a taxable or tax-exempt organization.
Are Nonprofits Required to Pay Taxes for Employee Parking?
Under the Tax Cut & Jobs Act, nonprofits are required to allocate parking expenses provided to employees and report unrelated business taxable income (UBTI) on the transportation fringe benefit. Learn about the four-step process used to determine the amount of employee related parking expenses subject to UBTI.
Ten Tax Mistakes Ministers Make when Filing Taxes
Clergy members carry “dual tax status,” meaning they are considered “self-employed” for Social Security purposes but considered an “employee” for income tax purposes. Because of this dual status, many clergies do not file their taxes correctly and often miss-out on tax benefits. Understanding the following top ten mistakes clergy make when filing taxes will help you file correctly in the future.
Charitable Giving Hits All-Time High
In June 2018, Giving USA issued their annual giving report estimating charitable giving in the U.S. totaled $410 billion for 2017, an increase of 5.2 percent or $20.38 billion over the prior year. Giving by each of the four major types, Individuals, Foundations, Bequests, and Corporations, saw increases over the prior year.
How Crowdfunding Can Help Nonprofits Generate Funding
Were you recently invited to donate to a friend’s Gofundme account, or have you participated in a colleague’s Kickstarter campaign? If so, you are not alone. Crowdfunding, the process of raising small contributions from a large number of people for a specific project facilitated through websites, has exploded over the years.
Tax Reform May Negatively Impact Charitable Contributions
The 2017 Tax Cuts and Jobs Act (the Act) passed by Congress on December 22, 2017 marks the most significant tax law changes in over 30 years. Most taxpayers will see their tax liability decrease. The Congressional Budget Office estimates the Act will reduce tax revenues by $1.455 trillion over the next 10 years. But all is not good for non-profit organizations as there are changes in the Act that may negatively impact charitable contributions.
When Are Activities of a Nonprofit Subject to Income Taxes?
A nonprofit will not ordinarily be taxed on its revenues. However, income from unrelated business income is subject to tax (UBIT). UBIT is based on […]
President Trump’s Proposed Budget Could Impact Your Nonprofit
On Tuesday May 23, President Trump released his budget request for 2018 entitled “A New Foundation for American Greatness.” His stated initiative with this budget request […]
Do You Know Your Fiduciary Duties as a Nonprofit Board Member?
Now is a good time to review the roles and responsibilities of your nonprofit board. Interest in the governance practices of nonprofit organizations has grown […]
A Whistleblower Policy Protects Not-For-Profits
Whistleblower policies allow individuals to report illegal or unethical practices without risking their career. While no federal law specifically requires not-for-profits to have a whistleblower […]
Is Your Not-For-Profit Team Ready for an IRS Audit?
Does your not-for-profit team know what to do if you receive an IRS audit letter? In recent years, the Internal Revenue Service has increased its […]
What Your Nonprofit Can Learn From For-Profit Businesses
If your not-for-profit is “stuck” and you’re not sure how to move forward, consider adopting some for-profit business practices. The essential missions of businesses and […]
Put Email List Segmentation to Work for Your Nonprofit
Your not-for-profit likely has a growing list of email addresses for donors, members, volunteers and other supporters. Are you making the most of it? If […]
How Nonprofits Can Treat “Founder’s Syndrome”
Of the many afflictions that can impede a not-for-profit’s growth, one of the more deadly is “Founder’s Syndrome.” This occurs when a single individual — […]
DOL Overtime Rule Blocked
U.S. District Judge Amos Mazzant, a federal judge in Texas, granted a preliminary injunction blocking the U.S. Department of Labor (DOL) from implementing a controversial […]
Nonprofit Reporting of Expense Allocations
Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities (Topic 958), issued August 18, 2016 by the Financial Accounting Standards Board (FASB), […]
Fraud Disclosure Requirements on Form 990
In a previous news brief, Nonprofit fraud isn’t worse – but it’s different, we commented on how fraud that occurs in a Nonprofit is different […]
10 Things You Should Know About Form 990
If you are a board member or volunteer for a local non-profit, you should be aware of Form 990 Return of Organization Exempt from Income […]
Not-For-Profit Financial Reporting Standards Are About to Change
The Financial Accounting Standards Board (FASB) has been working on refreshing the financial reporting model for nonprofit organizations for some time. The FASB first announced […]
The Path Act Changes W2 and 1099-Misc Filing Deadlines
On December 15, 2015, Congress passed the Protecting Americans from Tax Hikes Act (PATH Act) which extended several tax provisions. Enhancing Code Section 179 expensing […]
Not-for-Profit Accounting Standards Update
The Financial Accounting Standards Board, or FASB, met on October 28, 2015 to discuss feedback received on the April 2015 proposed Accounting Standards Update (ASU), […]