Insights

Tax Law Under Trump

The new tax reform law, known as the Tax Cuts and Jobs Act, was signed by President Trump on December 22, 2017. It represents the most sweeping rewrite of federal tax code in more than 30 years. Visit our dedicated tax reform page to learn more about implications for you and your business.

Cybersecurity

Today, nearly all business and financial operations are technology-driven, making IT systems central to your organization’s sustainability. How can you ensure the security of those systems and protect both your sensitive corporate information and the personal information of your employees and customers?

All Resources

Combining technical expertise with our keen understanding of our clients' businesses, we offer knowledgeable commentary on a broad spectrum of accounting, tax, finance, and business operations issues.

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Alert
The Financial Accounting Standards Board approved the issuance of an exposure draft for financial statements of not-for-profits. To review the most recent tentative decisions, visit the FASB Web site. The comment period is expected to end July 31, 2015.

Article
Though Form 990 and its required schedules have generally remained the same this tax year, a few changes to the forms and their instructions do warrant attention by not-for-profit organizations that file them. We highlight the differences in this Insight.

Article
Crowdfunding has become ubiquitous in recent years, and for not-for-profits, it can be a gold mine. Still, depending on what you offer your backers as an incentive, you’ll need to pay close attention to whether Washington State B&O or sales tax apply.

Article
Tax-exempt organizations often operate gift shops as a part of their ongoing operations, raising questions on whether that income constitutes unrelated business income, which would be subject to income tax despite the organization’s status. We look at the issue in detail in this Insight.

Article
Just in the final quarter of 2014 and the first of 2015, we’ve seen some fairly noteworthy legislative developments impacting not-for-profits. From last-minute tax extenders to the IRS priority guidance plan and the GAO’s report on IRS oversight, here’s what’s happening.

Article
In the past, tax-exempt organizations were required to reapply for exempt status upon certain structural changes. But two 2014 private letter rulings indicate they may no longer need to do so. We look at the rulings in this Insight.

Article
For tax-exempt organizations, forming a single-member LLC can lend liability protection. And because they’re disregarded for federal income tax purposes, the responsibilities of managing one are few. Still, there are a few important considerations and exceptions, which we cover in this Insight.

Article
You may think that because your organization doesn’t pay income tax, you don’t need to pay close attention to the new tangible property regulations. But the truth is, you do. We cover what tax-exempt organizations need to know to comply in this Insight.

Article
Like most people, businesses often take their utility services for granted, meaning we rarely consider there’s an alternative to paying the rates that show up on our bills. But your business does have options and may be able to more effectively manage its service costs. Learn more in this Insight.

Alert
A new accounting alternative allows private companies to elect not to recognize certain intangible assets in business combinations but rather to include them in goodwill. We take a closer look at the new alternative and its related requirements in this Alert.

Article
ASC Topic 606 represents a fundamental change in how companies across industries will be required to recognize revenue from contracts with customers—a change that’s especially relevant to construction contractors. We cover the FASB’s five-step process and some important areas to note in this Insight

Webcast
(Run time: 75:43) Mission investing is a topic on the agenda of many foundation leaders, as they consider whether or not to expand their mission-related activities beyond their grants.

Alert
OMB’s final rule on Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Grants was issued on December 19, 2014, and contains changes to previously issued guidance on the new federal grant reforms.

Article
Will you meet your minimum distribution requirement this year? Do you have net operating losses you can carry over from previous years? And how can you reduce your foundation’s tax rate on net investment income from 2 percent to 1 percent? Our year-end guide addresses all this and more.

Article
A bill now headed to the Senate would make permanent three important tax provisions for not-for-profits and create two more raised in the discussion draft for the Tax Reform Act of 2014. A first look at the details in this Insight.

Article
California tax-exempt organizations may not be required to pay income tax themselves, but their payees usually are. And despite the fact that your not-for-profit may not have tax staff on hand, you’ll need to collect withholding on many of those payments. What you need to know in this Insight.

Article
If your not-for-profit provides housing to its employees, you’ll need to understand whether it constitutes additional compensation—because if it does, you’ll need to consider how the benefit affects your reasonable compensation determination. We look at the tax code in this Insight.

Article
Charging fees for parking or opening your not-for-profit’s parking lot to the public during nonbusiness hours can be a great way to raise extra money. But will the earnings be considered unrelated business taxable income? Details in this Insight.

Article
Even though they’re exempt from income tax, tax-exempt organizations can qualify for a health care tax credit. We take a closer look at how not-for-profits can claim the credit.

Article
If your private foundation takes an active role in its charitable work that goes beyond making donations, you may qualify for private operating foundation status—which comes with additional benefits for both you and your donors. Learn more about what it takes to qualify in this Insight.

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