Non-Profits

Tax-Exempt Organizations, Unrelated Business Income Tax and the New Tax Act

July 8, 2018

Author: Angela Juvelis, Audit Manager   Included in the Tax Cuts and Jobs Act of 2017 (the Act) is a provision which may have a significant impact on certain tax-exempt organizations. Tax-exempt organizations that provide qualified transportation fringe benefits (i.e. transit passes and parking) and on-premises athletic facilities are now required to pay an “unrelated…

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What to Consider Before Teaming Up

April 23, 2018

As a result of rising facility costs, many nonprofits throughout the United States are beginning to consider shared workspace arrangements. This is of particular interest in areas where organizations are being priced out of the real estate market. Nonprofits who are looking to cut operating costs can also benefit from such a move. Options to…

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Nonprofits Get a Bag of New Rules from Tax Overhaul

April 17, 2018

On December 22, 2017, President Trump signed the massive federal income tax overhaul into law. With this, a higher standard deduction was realized. Much was made of the concern of nonprofits that this would lessen incentives for charitable giving. While this is important, the new law also includes a number of other provisions that could…

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Tax Reform 2018 – Impact on Non-Profits

February 1, 2018

What you need to know: 6 Key Areas   Standard Deduction Standard vs. itemized deductions – Taxpayers have generally selected whichever method reduces their taxable income by the greatest amount. Under the new Act, the standard deduction has been increased from $6,350 to $12,000 for individuals and from $12,700 to $24,000 for couples. As a…

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President Signs Sweeping Tax Overhaul Bill into Law

December 22, 2017

On December 20th, 2017, Congress approved the final version of the “Tax Cuts and Jobs Act.” Earlier today, President Trump signed this bill into law. This is the first major tax overhaul since Ronald Reagan was president. It will have far-reaching effects on all individuals and businesses. Please click below for a special report on key…

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The Latest on Tax Reform

December 19, 2017

On December 15th, 2017 the House and Senate conference committee released the final version of the “Tax Cuts and Jobs Act,” a sweeping tax reform proposal. The Conference bill would impact virtually every individual and business on a level not seen in over 30 years.  Please click below for a special report on key aspects of…

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