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Excess Business Holdings: What They Are and What They Mean for Your Private Foundation
When a private foundation and its disqualified persons—those closely associated with it—own too much in the same corporation, partnership, or trust, it risks having excess business holdings, which can result in a hefty excise tax.
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Article
2014 Changes to Form 990 and Required Schedules
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.
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Article
Tax-Exempt Organizations: Mind the New Tangible Property Regulations
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.
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Article
Crowdfunding in Washington State: Tax Facts for Not-for-Profits
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.
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Alert
Washington Amends B&O Tax Apportionment Rules for Financial Institutions
Prompted by an amendment to Multistate Tax Compact’s apportionment models, Washington state has revised its rules for how financial institutions must apportion income for purposes of business and occupation (B&O) tax.
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Article
Alabama Adopts Economic Presence Standard for Sales Tax
Some out-of-state sellers with substantial economic presence in Alabama will be required to collect and remit tax on sales into the state. The standard applies to transactions occurring on or after January 1, 2016.
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Alert
Trump Tax Changes—What Can We Expect?
President-elect Donald Trump’s proposed tax changes would significantly impact individual and business taxpayers. We give an overview.
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Alert
Changes and Best Practices for Informational Returns—Forms 1099-MISC and W-2
In preparation for the informational return filing season, we give an overview of changes and best practices for Forms 1099-MISC and W-2.
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Article
IRS Releases 990 Data in Machine-Readable Format
The information on all e-filed Form 990 returns will be available in machine-readable format through Amazon Web Services.
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Article
Washington B&O Tax Determination May Impact the Health Care Industry
Washington B&O tax determination may impact health care providers that globally bill patients for work performed by multiple people or entities.
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Article
Noncash Contributions Require Filing Forms 8283 and 8282—or Risk Penalties
If you donate or receive noncash property, there are additional filing requirements by the IRS, specifically Forms 8283 and 8282. There are penalties if a form isn’t filed or is filed incorrectly.
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Article
How Will the New Lease Accounting Standard Impact Loan Covenants?
Learn how new accounting for leases will affect company’s financial statements, loan agreements, and debt covenants.
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Article
Q3 Tax Update for Technology, Clean Technology, Life Sciences, and Communications and Media Companies
In this Q3 update, we cover important tax issues for companies in technology, clean technology, life sciences, and communications and media, including what your organization can do to stay ahead.
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Article
Monitor your Self-Insured Medical Plan with an Administrative Audit
A third-party administrator audit, sometimes called an administrative claims review, helps tribes create accountability, measure performance, and establish processes for quality improvements.
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Article
Consider These Best Practices When Organizing Grantee Site Visits
Private foundations considering grants can follow these guidelines for planning a personal visit to gain insight from prospective beneficiaries.
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Article
Not-for-Profit Reporting Series: Cash Flow Statements Are About to Become Simpler
An overhaul of not-for-profit financial reporting guidance offers flexibility in the way not-for-profits present operating cash flow.
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Article
An Overview of Potential Legislation Affecting Higher Education Endowment Spending and Tuition Fees
Learn about potential legislation that could affect college and university endowment spending, tuition fees, and Form 990 disclosures.
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Article
Streamline Key Performance Indicators to Help Drive Growth
Streamline the process of tracking key performance indicators (KPIs) to help unlock growth insights and spur action.
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Alert
The FASB Clarifies Asset Derecognition Guidance
We summarize ASU 2017-05 and how it clarifies the scope of asset derecognition and provides new guidance on partial sales of nonfinancial assets.
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Alert
New FASB Guidance Simplifies the Test for Goodwill Impairment
ASU 2017-04 simplifies the test for goodwill impairment and amends US GAAP ASC Topic 350, Intangibles—Goodwill and Other.
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