Articles

Posted by: Joe Haberzetle ·

July: it typically marks the start of the dog days of summer, when most people’s thoughts are focused on barbecues, trips to the beach, and summer vacation plans, rather than state and local taxes. But for remote sellers (that is, businesses that sell primarily over the internet or mail order), July 1st is shaping up […]

Brain Wainscoat CPA, Tax Manager | Clark Nuber PS Figuring out charitable contributions can be a tricky thing – especially when it comes to your tax deductions. How do you determine if your cash donation is deductible? What about your noncash donation? For starters, to be a valid tax deduction, your donation must contribute to […]

Posted by: Sarah Wine ·

As we reported in part six of our Big Changes Coming for Financial Reporting of NFP Organizations, effective for fiscal years beginning on or after December 15, 2017, all not-for-profit (NFP) entities will be required to present expenses on a functional and natural classification basis. Following is a deeper dive into not-for-profit functional expense reporting. […]

Posted by: Bob Heller ·

By Bob Heller | JD, LLM, Shareholder; Nicole Lyons | CMI It is common practice for nonprofit organizations to hold fundraisers to support the organization’s exempt purpose. But in a state such as Washington, which does not have an outright tax exemption for nonprofit organizations, the question becomes, what are the tax consequences to the […]

Posted by: Karen Dunn · Jane Searing ·

On February 22, 2017, the IRS released data regarding organizations that utilized the 1023-EZ from its inception in July of 2014, through December of 2016. To conduct their research, the IRS employed a streamlined, online process, which allowed them to collect data from over 105,000 organizations. The 1023-EZ data the IRS collected, however, has raised […]

Posted by: Mitch Hansen ·

In our ever-expanding digital world, many of us have had at least one of the following experiences: Being unable to login to your bank’s online banking system; Pop-ups or unexpected requests to change your password; Computer slows, locks up, reboots or won’t shut down; New toolbars or icons; Requests for payment with no, different, or […]

Posted by: Bob Heller ·

Figuring out when and how a supplier should collect sales taxes in a drop shipment transaction is often a bewildering task. Generally, sales for resale are not subject to state and local sales taxes – provided that a purchaser supplies proper exemption documentation. As a result, wholesalers who deliver taxable products directly to their customer’s […]

Posted by: Joe Haberzetle ·

California nonresident investors have long complained about having to pay $800 annually in minimum corporate franchise tax or California LLC tax, merely for holding a passive investment in a California business and regardless of whether the investment generates income.  As it turns out, the law may have been on the investors’ side all along. In […]

Posted by: Jane Searing ·

More than 263,000 Forms 990-EZ were filed with the IRS in 2016. Of those, 139,000 were paper filed. The IRS reports 30% of all paper-filed Forms 990-EZ had an error, while only 1% of electronically filed Forms 990-EZ had an error. In an effort to reduce the error rate on paper filed Forms 990-EZ, the […]

Posted by: Cheryl R Olson ·

Now that we’re in March, many of us have given up on our New Year’s resolutions. Some of us didn’t make resolutions to begin with based on past history. That said, It’s not too late to make a 2017 commitment to create, review, or update your organization’s key governance and financial policies. To be most […]

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