Financial Management

What You Need to Know About Major Nonprofit Tax Law Changes

This fall, Congress is in the process of rewriting the Internal Revenue Code with the dual goals of lowering individual and corporate income tax rates and simplifying our nation's tax laws. This tax overhaul has major implications for all 501(c)(3) nonprofits. Among other things, the tax reform proposals could reduce charitable giving, politicize 501(c)(3) nonprofits, eliminate financing options for nonprofits, and create new taxes on certain nonprofit activities.

It’s Budget Season. Are You Accounting for the Right Things?

Jay Wilkinson, Firespring

No doubt you’ve heard about this, and like many good nonprofit leaders, have done your best to refute it.

It’s dubbed a myth for good reason. Yet most nonprofits feel pressured to do as much as possible with as little as possible when it comes to running their organization. The Overhead Myth still exists, and donors still scrutinize nonprofits, wondering what percentage of their gift actually goes toward the “cause.” As if dollars that support infrastructure don’t also support the mission.

Sales Tax Exemption

Under current law, charitable nonprofits in North Carolina pay sales and use tax on their purchases and can apply for semi-annual refunds of the taxes they pay. A system of sales tax exemption would save nonprofits time and reduce administrative burdens. S.346 would replace the nonprofit sales tax refund system with sales tax exemption for most 501(c)(3) nonprofits.

How does the current nonprofit sales tax refund system work?

Update on Key 2016 Benefits Compliance Issues for Nonprofits

As the smoke clears from the primary changes of the Affordable Care Act, this webinar recording provides a look at key benefits compliance issues relevant to nonprofit employers of all sizes and covers key topics for 2016 and beyond, including: 

  1. A review of basic eligibility rules for the ACA’s Play-or-Pay and eligibility provisions (including how to confirm a small group exemption); 
  2. An update on FMLA eligibility and compliance; 
  3. An update on compliance with HIPAA privacy and security rules; and 
  4. A discussion of other hot topics.