Nonprofit Accounting Basics

Tax and Information Filings

Payroll Taxes -- A Hot IRS Initiative -- With a Burning Question: Employee or Independent Contractor

The IRS will be selecting 500 nonprofit organizations for payroll audits in each of the next three years (as well as a high number of for-profit companies).

Personal Information-It Doesn't Belong in your 990!

With identity theft an ever-growing threat, it's never been more important for exempt organizations to make sure their filings contain no personal or private information that might expose to fraud

Personnel Files

Keep only what you need in an employee's personnel file.

Taking the time to properly create and maintain your personnel files will pay off in the long run.

Private Inurement: Don’t Lose Your Tax Exempt Status

For a nonprofit organization, losing tax exempt status is one of the more devastating things that can happen.

Retirement Plans: Are You in Compliance?

Your company’s compliance with U.S.

Sales and Use Tax

The rules for nonprofit sales/use tax vary considerably from state to state.

Schedule A: The Key to Maintaining Public Charity Status

Many public charities have to pass an annual public support test in order to maintain public charity status and avoid being classified as private foundations.

State Registrations

Charitable Registration: Most states require nonprofits who solicit contributions in their state to be registered in that state.

Taxability of Credit Card Cashback Rewards

Most credit card companies offer some form of reward program to market their card and build customer loyalty.

The Form 1023-EZ (Part 1 of 2): Overview and Controversy

On July 1, 2014, the IRS revolutionized the nonprofit world by finalizing and launching the Form 1023-EZ, a new streaml

The New Tax Bill – What Nonprofits Should Know Right Now

With this new tax bill comes sweeping changes that potentially impact all U.S. taxpayers, including exempt organizations.

The Tax Consequences of Fee-for-Service (Part 1 of 2): The Exempt Purpose Test

The past decade has been marked by the increasing commercialization of the non-profit sector.

The Tax Consequences of Fee-for-Service (Part 2 of 2): The Unrelated Business Income Tax

In the first part of this two-part series, we discussed the growing commercialization of the non-profit sector, and examined how and when heavy reliance on “fee-for-service” revenue may be inconsis

UBIT Can Take a Bite Out of Alternative Investments

The uncertain economy and tempestuous financial markets of recent years have led some nonprofit organizations to turn to alternative investments.

Unclaimed Property

Escheat Tax: More commonly called Unclaimed Property Tax, this can be a real trap for the unwary.

Unclaimed Property: Reporting What You Hold and Claiming What You Have Lost

As states continue to struggle through the current economic downturn, many are looking for ways to increase revenues.

Unrelated Business Income Tax (UBIT)

Unrelated Business Income Tax: All but a few states require income tax to be paid on net unrelated business income.

Volunteer Protection Act

The Volunteer Protection Act of 1997 provides personal immunity to individuals who act on behalf of an organization in a volunteer capacity.

Which 990 Form to File

There are threshold rules to consider when choosing the informational form an exempt organization should file. It should be noted that there are exceptions to each of these thresholds.

Withholding

Payroll Tax: Withholding of employee state income tax is a requirement in most states with an individual income tax.

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