Like many business owners, you might also own highly appreciated business or investment real estate. Fortunately, there’s an effective tax planning strategy at your disposal: the Section 1031 “like kind” exchange. It can help you defer capital gains tax on appreciated property indefinitely. How it works Section 1031 of the Internal Revenue Code allows you […]
Not-for-profits that ignore the IRS’s private benefit and private inurement provisions do so at their own peril. These rules prohibit an individual inside or outside a nonprofit from reaping an excess benefit from the organization’s transactions. Violation of such rules can have devastating consequences and could cause the loss of tax exempt status. Defining terms […]
For most people, September 15th marks the tax deadline to get your taxes in to IRS or face penalties. While that may be true for most americans, there are other tax deadlines for businesses you must take note of if you run a company. For businesses, tax deadlines can vary depending on the type of […]
Is your non profit budget offering enough (or the right) programs to keep members active and engaged? New programs require time, effort and money. So when you commit to developing one, you want to get the biggest bang for your buck. Here are some simple non profit budget dos and don’ts to get the most […]
Making business charitable donations is more than good business citizenship; it can also save tax. Though it’s important you know your options. Businesses can make charitable donations to bona fide nonprofit organizations, but you may be surprised to learn how it is deducted on your tax return. In fact, did you know the only entity […]
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