Tax, Legal & Compliance

Freedom of Speech: How It Affects Charitable Giving
January 3, 2019 at 12:14 pm

Recently, the U.S. elevated its latest Supreme Court justice to the highest court in the land. While there has been a lot of debate about the rightward tilt of the Supreme Court and what that will mean for many aspects of our society, there is also a lot at stake for nonprofits and charitable giving...

Abridged: The New Nonprofit Law for Dummies
August 15, 2018 at 11:50 am

One of the most difficult concepts nonprofit leaders have been trying to comprehend in the last few months is the massive mess that is the new tax code. Before I get into nitty-gritty terminology of the new nonprofit law, let’s lay it all out with an easy and relatable 8-year old analogy: running a lemonade stand...

Taking a Look Into Humanwire: Policing Nonprofits Is Our Responsibility
August 8, 2018 at 12:20 pm

Humanwire said on its website that donations would go directly to needy refugees, and that “0 percent” would go to operating costs. The scam was exposed by an investigative report in the Denver Post, which chronicled a steady stream of withdrawals from Humanwire’s bank accounts by Andrew Baron...

The New Nonprofit Tax Laws for Dummies, Part 2
July 30, 2018 at 12:13 pm

What’s changed about the itemized deduction though? The biggest one that has left taxpayers “salty” is the capping of the State and Local Tax deduction at $10,000. To an 8-year-old, $10,000 probably seems like a fortune; after all, imagine the amount of video games one could buy with that! To bring it back to the analogy though, we can illustrate that it isn’t good for itemizers at all...

The New Nonprofit Tax Laws for Dummies, Part 1
July 26, 2018 at 12:36 pm

Okay, it’s confession time —I’ll go first. I consider myself to be a pretty bright guy; not Bill Nye the Science Guy smart, but more like Mr. Rogers smart (and not because I talk to puppets—I don’t). The thing that I struggle with though, to put it lightly, is a very challenged attention span...

Keeping Up With Nonprofit Compliance: Is Your Payroll Prepared?
July 25, 2018 at 11:43 am

Nonprofits are responsible for some of the most inspiring acts of goodwill that occur in our world, from offering aid during disasters to paying for children’s healthcare to feeding people in underprivileged communities. Keeping these organizations running smoothly is critical to society’s well-being and keeping up with nonprofit compliance is the key to success...

Understand the Regulations, and Educate Your Nonprofit Board Members
April 4, 2018 at 11:18 am

As development professionals, it generally falls to us (the executive director and the person in charge of finance are often in the boat with us) to keep current on the fundraising regulations of countries and states in which our nonprofit organizations solicit funds to support our missions. It can be difficult to keep up and, sometimes, we may miss things; it happens...

Charitable Deductions Did Not Go Away
March 27, 2018 at 11:36 am

For many Americans the new tax act, now known as Tax Cuts & Jobs Act of 2017, means they will no longer itemize their charitable deductions. While this may make their tax filing simpler, it also means that giving money to charity will no longer be tax deductible...

Section 1031 and Done: New Opportunities for Charities
March 6, 2018 at 11:43 am

The Tax Cut and Jobs Act that went into effect on Jan. 1 contains sweeping changes to the entire tax system. Corporate, personal and estate taxes have been revamped entirely, and practitioners are scrambling to adapt to the new regime and to provide the “right” advice for their clients...