Zac Blanco, Keiter Emerging Business & Growth team leader and Bryan Bostic, co-founder of StartUp Virginia, a nonprofit high-growth business incubator, shared their RVA entrepreneurship insights at Innsbrook Foundation’s monthly…
…the approved organization to determine the available NAP credits. Make the contribution directly to the charity without restriction. Contributions cannot be made through other non-profit organizations (such as United Way)….
…serving the manufacturing, real estate, construction, and financial services industries, as well as not-for-profit entities. Our manufacturing industry team partners with over 50 local and national manufacturing clients to provide…
…approved Neighborhood Assistance Program (NAP) non-profit organization. This is a non-refundable credit equivalent to up to 65% of the donations’ value. The donation must be at least $500 per tax…
…3. Pass-Through Deductions A new provision introduced under the TCJA is the concept of “qualified business income” (QBI). Under Section 199A of the Internal Revenue Code, QBI refers to profit…
Update On August 28, 2020, the Internal Revenue Service released Notice 2020-65 to provide guidance for employers who decide to participate in deferral of withholding and deposit of the 6.2…
…(i.e. at a zero profit). Conclusion As planning for and implementing the new revenue recognition standard continues, these industry specific items are important to consider to ensure GAAP compliance. For…
ERS Provides Donors with More Access to Nonprofit Information Charity Navigator, the world’s largest independent and most-used evaluator of nonprofit organizations, has rolled out its new Encompass Rating System (“ERS”)….
…can continue to contribute positively to societal issues without compromising their foundational mission or tax-exempt benefits. Questions on this or other nonprofit compliance matters? Contact your Keiter Nonprofit Opportunity Advisor….
$3M Central Virginia COVID-19 Response Fund launched to support local not-for-profits The Community Foundation for a greater Richmond launched the Central Virginia COVID-19 Response Fund alongside the Emergency Management Alliance…
IRS enhances resources for nonprofit success Navigating IRS requirements can be challenging for nonprofits, especially when meeting the organization’s mission is paramount. To support nonprofit leaders in this task, the…
…not-for-profit tax team is available to help navigate tax law for your organization. Questions? Contact your Keiter Opportunity Advisor. Source Retail Sales and Use Tax Exemptions for Nonprofit Organizations …