Non-Profits

Repeal of Nonprofit Unrelated Business Income Tax on Fringe Benefits

December 20, 2019

President Trump is expected to sign a government funding bill tonight, Friday, December 20th, which includes a provision that will repeal the tax nonprofit organizations pay on certain qualified fringe benefits. Included in the Tax Cuts and Jobs Act of 2017 was a provision that had a significant impact on certain tax-exempt organizations that provided…

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Giving Tuesday: Why You Should Give Non-Cash Charitable Donations and Maximize Your Tax Benefits

December 2, 2019

Giving Tuesday is a great time to make a difference in your community and support your favorite causes by making charitable donations. Donating cash is a simple way to support charities, but there are other ways you can give. Did you know you can donate appreciated assets directly to charities? It can increase the impact…

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tax advisors

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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non profit accounting

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 for Non-Profits 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…

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