What Small Businesses Need to Know about the Beneficial Ownership Information Report

Starting on January 1, 2024, millions of small businesses will be required to file a new information reporting form as part of the Corporate Transparency Act. Many PBMares clients will be affected.

2023-10-05T17:27:39-04:00September 11, 2023|Categories: Tax Alert, Tax: Business|Tags: , , |

Nonprofit Advertising Rules: Periodicals, UBTI, and Membership Receipts

Two previous articles in this series went into detail about how nonprofits can incur taxable income from advertising or sponsorship sales, and how different the taxable impact can be depending on the relationship of certain costs to certain types of income. There is another important consideration of UBTI and advertising: allocable membership receipts.

2023-08-16T16:17:40-04:00August 16, 2023|Categories: Not-for-Profit|Tags: , |

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: |

Updated UBTI Expense Allocation Method for Social Clubs and Tax-Exempt Organizations

Final IRS regulations will require most social clubs and tax-exempt organizations to rework their unrelated business taxable income worksheets to avoid using an outdated expense allocation method.

2023-12-07T14:47:54-05:00June 27, 2023|Categories: Hospitality, Private Clubs|Tags: |

What’s in the Inflation Reduction Act, Anyway? 12 Tax Provisions in Detail

From corporate tax changes to clean energy tax credits, the 179D commercial building deduction, and more, the Inflation Reduction Act contains a myriad of tax law changes for 2023 and beyond. This article details 12 tax changes likely to impact most taxpayers.

2023-05-26T10:51:13-04:00May 23, 2023|Categories: Tax: Business, Tax: Individual|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.

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