Designed for CPAs, Enrolled Agents, tax managers, controllers, trustees, financial planners, and executive directors, this 12 meetings course presents tax-related guidelines and key issues for nonprofit organizations. Topics covered include a step-by-step process for corporate formation and application for recognition of tax-exempt status, unrelated business income, taxation of commercial activities conducted through joint ventures and […]
Entries Tagged as 'Private foundations'
New UCLA Extension Class: Tax Reporting and Governance for Nonprofit Organizations
March 2nd, 2015 · Comments Off on New UCLA Extension Class: Tax Reporting and Governance for Nonprofit Organizations · California Exempt Status, California nonprofit law, Federal Income Taxes, Governance, intermediate sanctions, Loss of Tax-Exempt Staus, policies and procedures, Private foundations, tax exemption, tax returns
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Donations of Non-Publicly Traded Securities: Private Foundations versus Public Charities
December 9th, 2011 · Comments Off on Donations of Non-Publicly Traded Securities: Private Foundations versus Public Charities · charitable contributions, Federal Income Taxes, Private foundations
Donors face a very basic tax question when donating non-publicly traded securities to charity. Which recipient generates a “better” tax deduction: a private nonoperating charitable foundation or a public charity? A public charity would include, for example a church or synagogue. Assume that the security is not held as inventory in the hands […]
Tags:charitable contributions·non-publicly traded securities·Private foundations
Termination of Private Foundation Status
December 6th, 2011 · Comments Off on Termination of Private Foundation Status · Federal Income Taxes, Private foundations
If you are a private foundation that is considering stopping your activities, there are right ways and wrong ways to do this most important step. Depending on how it is done, the foundation there may need to notify the IRS of intent to terminate and pay a termination tax. This way is viewed by some […]
Tags:tax-exempt status·Termination of private foundation status
New IRS Form 8940 for Miscellaneous Determination Requests
August 21st, 2011 · Comments Off on New IRS Form 8940 for Miscellaneous Determination Requests · Form 990, Loss of Tax-Exempt Staus, Private foundations
The IRS has released a new form that tax-exempt organizations will use to request determinations (other than initial exemption applications) about their tax-exempt status. In addition to foundation status issues, organizations will use Form 8940, Request for Miscellaneous Determination, to obtain advance approval of certain activities and exemption from Form 990 filing requirements. The simple […]
Tags:Advance Approval Foundation Scholarship·Form 990·tax-exempt status·Termination of private foundation status