Due Dates for Calendar Year-End Nonprofit Organizations
There are important due dates that calendar year-end nonprofit organizations need to remember. Click for a complete list of due dates.
North Carolina Legislative Update
On November 8, 2019, North Carolina Governor Roy Cooper signed legislation adopting market-based sourcing for corporate income tax apportionment purposes and requiring marketplace facilitators to collect and remit sales and use tax.
Rules for Business Meals and Entertainment
Several changes to the rules for deducting meals and entertainment were made by the Tax Cuts and Jobs Act (TCJA). Prior to the TCJA, meals and entertainment were either 100% or 50% deductible, depending on the nature of the expense.
IRS Announces 2020 Pension Plan Limitations
The Internal Revenue Service announced the cost of living adjustments (COLA) for tax year 2020. These adjustments affect various limits for retirement savings plans.
N.C. Department of Revenue Publishes Overview of Recent Sales and Use Tax Changes
The N.C. Department of Revenue recently published Form E-505 which summarizes recent sales and use tax law changes enacted by the 2019 Session of the General Assembly.
2020 Form W-4 To Be Released In Late Fall 2019
Major revisions to the withholding tables were made in January 2018 as a result of the 2017 Tax Cuts and Jobs Act. A new version of Form W-4 is expected to be released in November.
Volunteer Training
Volunteers are an integral part of many nonprofit organizations. Training will enable the volunteers to better understand and work more efficiently for the organization.
Nonprofit Core Values
The establishment of core values in the early stages of a nonprofit’s operations is important because these core values allow donors to better understand the purpose of the organization.
Why the Company Auto Is Still a Valued Fringe Benefit – Part II
The company auto is still a valued fringe benefit. Part II of this article focuses on the rules for personal use valuation, recordkeeping requirements, and business auto deductions for the employer.
Role of Board Treasurer in a Nonprofit
The expectations and underrated role of a board treasurer for a nonprofit organization vary widely. The treasurer of a nonprofit is usually appointed by the members of that organization’s board, and the position requires financial expertise as well as dedication, time and patience.