Contact Us Follow Us :       | Find Us |
CBIZ & MHM New England

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

Lingering TCJA Tax Considerations for Not-For-Profits
Posted by Amy O’Loughlin on Thu, Jan 24, 2019 @ 04:18 PM

After the first full year under the new tax reform law, one thing is clear: Several tax reform provisions may make tax reporting more difficult for not-for-profit organizations.

The tax law commonly referred to as the Tax Cuts and Jobs Act (TCJA) passed into law quickly, leaving ambiguities about how some of its provisions would be implemented. Not-for-profits received some more clarity at the end of 2018 around how to apply some of the TCJA’s changes, but little in the way of relief. Most organizations should still expect to spend more time with certain segments of tax-related reporting, including quantifying and segmenting their sources of unrelated business income (UBI) and evaluating their qualified transportation fringe benefits.

Read More

Topics: Amy O’Loughlin, Not-for-Profits, unrelated business income (UBI), nonprofit, Tax Reform, Tax Cuts and Jobs Act, TCJA, Tax Reform Act, UBI

New Charitable Contribution Regulations May Require Not-For-Profits to Step-Up Their Game
Posted by Bill Smith on Thu, Sep 6, 2018 @ 06:30 PM

The 2017 tax reform law gives donors more of an incentive to make charitable contributions, increasing the deduction allowed for cash contributions to public charities from 50 to 60 percent of adjusted gross income. Substantiating that deduction, however, may be more challenging due to recently finalized IRS regulations.

Read More

Topics: not-for-profit, Taxes, Bill Smith, Tax Reform, charitable giving, Charitable contribution planning, Charitable Contribution Deductions, Nate Smith

The Impact of the New Tax Law on Not-For-Profits
Posted by Craig Klein on Mon, Feb 5, 2018 @ 01:07 PM

Not-for-profit organizations will face some critical challenges as the new tax law begins to take effect.  The Tax Cuts and Jobs Act (TCJA) had to be paid for in order to be passed, and a result, new taxes were added to offset the costs of the 40 percent reduction in corporate tax rates and 20 percent deduction to owners of pass-through entities.

Read More

Topics: Amy O’Loughlin, executive compensation, Craig Klein, Taxes, Congress, estate tax, Tax Reform, House of Representatives, senate, Charitable contribution planning, not-for-profit tax

What Did the FASB Have to Say About Tax Reform?
Posted by Mark Winiarski on Fri, Feb 2, 2018 @ 08:56 AM

The FASB met Wednesday, Jan. 10, 2018, and discussed how companies should account for the effects of the new tax law, introduced as H.R. 1 (Tax Cuts and Jobs Act). The discussion addressed six different financial reporting issues related to the new tax law and has already resulted in the issuance of a FASB Staff Q&A.

Read More

Topics: FASB, Mark Winiarski, Tax Reform, Tax Reform Act, tax reform bill

What Not-For-Profits Stand to Gain (or Lose) from the Latest Tax Reform Plan
Posted by Craig Klein on Thu, Nov 30, 2017 @ 11:39 AM

Congress took its first steps toward tax reform when both the House and the Senate released versions of their changes to the tax code. The House passed its version of the Tax Cuts and Jobs Act, while the Senate Finance Committee approved its version of a tax reform bill on November 16. Provisions vary significantly between the House and the Senate versions of the tax reform plan, but they share one element in common: they both have provisions that will affect not-for-profit organizations.

Read More

Topics: executive compensation, Craig Klein, Taxes, Congress, estate tax, Tax Reform, House of Representatives, senate, Charitable contribution planning, not-for-profit tax

Popular Posts

Browse by Tag

see all