Key Financial Planning Impacts of SECURE Act
The SECURE Act was recently signed into law by President Trump. The legislation primarily impacts distributions from qualified retirement plans and Individual Retirement Accounts (IRA) but there are other provisions that affect contributions and kiddie tax. Most...
Beneficial Interest in a Community Foundation: How Do I Record This?
A community foundation “Foundation” is a tax-exempt charitable organization that focuses primarily on addressing community needs and supporting local non-profit organizations in a specific geographical area through funds it maintains and administers on behalf of...
Cool to be Kind
In 2019, employees chose to donate their time to causes that promote and inspire compassion, care and love for animals of all kinds in our local communities. This holiday season, we’ve donated $5,760 to local organizations whose missions are to care for and...
Net Operating Losses and Unrelated Business Taxable Income
The Tax Cuts and Jobs Act of 2017 (TCJA) that was signed into law on December 22, 2017, has some tax implications that impact nonprofit organizations. In this article we specifically address the Net Operating Loss (NOL) rules and how they apply to Unrelated Business...