Not-for-profits have to report all donations they receive throughout the year. But not all donations are created equal. It can be difficult to determine if the funds are a charitable donation or an exchange transaction. Read on and learn what factors can help determine how the funds should be reported.
Are membership dues paid to nonprofits considered a donation or program revenue? It comes down to whether the member receives a significant benefit or an insignificant one. Understanding the difference ensures nonprofits report these contributions correctly on Form 990.
Guidance issued from the IRS on December 10, 2018 provides examples of ways to identify and calculate non-deductible parking expenses including a four-step process when taxpayers and tax-exempt organizations own or lease parking facilities. This guidance allows for any reasonable method in calculating the non-deductible expenses.
Construction contractors can spend their entire career bidding work, managing projects and handling cash flow issues, while on the way to a banner year. Then [...]
Nonprofit organizations, state and local governmental entities, and churches may be able to save money on future catered events. Effective April, 22, 2016, organizations can [...]
If you have employees who earn less than $23,660 a year, then you are currently paying time-and-a-half when those employees work more than 40 hours [...]
As Internet Explorer will discontinue browser security updates by August of 2021, this site is best viewed using Google Chrome, Safari or Microsoft Edge.
