Congress Repeals Parking Lot Tax for Nonprofits
Of the many provisions outlined in the original language of the Tax Cuts and Jobs Act (TCJA), few raised significant resistance like the new tax on qualified transportation fringe (QTF) [...]
Conditional Contributions? ASU 2018-08 Explains it All
We recently discussed ASU 2018-08, which addresses procedures to account for contributions and exchanges. Our previous article covered whether a transaction is a contribution or exchange. In this piece, we’ll [...]
Procurement Standards Now Being Enforced: Are You Ready?
Most nonprofits know they need to document how their grant funding is used. And while there were previous rules from multiple sources, CFR (Uniform Guidance) brought them together—streamlining and consolidating [...]
Selecting Nonprofit Board Members: Three Steps to Success
We all know that people make the difference when it comes to nonprofits. That goes not only for the staff you employ, but your board members as well. An effective [...]
Nonprofits and the Taxpayer First Act: What You Need to Know
The Taxpayer First Act (HB 3151) cleared the way for reforms aimed at improving the tax return process for taxpayers. However, it also introduces some new protections and requirements for [...]
Win-Win Giving: Donor Advised Funds
Donor advised funds (DAFs) are one of the fastest growing vehicles for charitable giving in recent years thanks to the advisory control and tax benefits they can provide to donors. [...]