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Nonprofit Q & A: Unrelated Business Income

Nonprofit Q & A: Unrelated Business Income

Q: We are a small 501(c)(3) public charity that helps children develop reading and math skills. For Federal income tax compliance, we only file the e-postcard. We also publish an annual calendar and bi-monthly newsletter…

2018 Proposal Tax Reform 2.0

2018 Proposal Tax Reform 2.0

Tax reform 2.0 has been announced. Though the outline lacks details and should be considered a work in progress, it’s worth tracking these developing dynamics. The following is an overview of the proposal from the Committee on Ways & Means regarding the initiatives and objectives of Tax Reform 2.0.

Oregon Legislature Update for Healthcare Practices

Oregon Legislature Update for Healthcare Practices

The Oregon Legislative session voted and passed a tax bill in February in response to the federal tax reform enacted in December 2017. In planning for 2018 taxes, the following are a few of the key Oregon provisions to take into consideration…

WEBINAR: Tax Reform & Planning Opportunities for Physicians, Dentists, and their Practices

WEBINAR: Tax Reform & Planning Opportunities for Physicians, Dentists, and their Practices

In this free webcast, you’ll learn about the potential planning opportunities available to you and your medical or dental practice, and how the changes could impact your tax liability for 2018. We’ll review changes to tax rates, exemptions, credits, Section 179, the new 20% deduction for qualified business income (also referred to as the “pass-through deduction”), and new considerations for your business entity…

FAQ: New Oregon Transit Tax

FAQ: New Oregon Transit Tax

What is the Oregon Transit Tax? On July 1, 2018, employers must start withholding the tax (one-tenth of 1 percent or .001) from: – Wages of Oregon residents (regardless of where the work is performed). – Wages of nonresidents who perform services in Oregon…

Nonprofit Q & A: Unrelated Business Income

Nonprofit Q & A: Unrelated Business Income

Our accountant says that we may need to pay Unrelated Business Income tax or at least file a Form 990-T to report advertising income. Since we don’t charge tuition for our programs, and sponsorship revenue helps us buy books and materials for the children, isn’t this revenue related to our exempt purposes?

Federal Funding Update for Mental Health and Addiction Programs

Federal Funding Update for Mental Health and Addiction Programs

Recently, Congressional leaders passed a $1.3 trillion spending bill that set government funding through Sep. 30, 2018. The 2018 bill boosts federal health spending by about $10 billion, including increases for the Substance Abuse and Mental Health Services Administration (SAMHSA) and specifically dedicated opioid crisis funding…

Tax Reform Impact on Construction Companies

Tax Reform Impact on Construction Companies

On December 22, 2017, President Trump signed into law H.R. 1, formerly referred to as the Tax Cuts and Jobs Act of 2017 (TCJA). 2017 tax reform is the first major tax overhaul in 30 years, and will affect individuals, all types of businesses, tax-exempt entities, international taxation, and many other areas of tax law…