Form 990 Changes - Nonprofit CPA Firm

990 Changes – Better Read Each One

In its latest “Exempt Organizations Update,” the Internal Revenue Service (IRS) listed significant changes to forms and instructions for the Form 990 series.

You Can’t Have Your Cake and Take a Deduction For it Too

Posted by Saaib Uppal Who came up with the proverb, “You can’t have your cake and eat it too?” While history doesn’t give a definitive answer, we can start by checking the archives of the Internal Revenue Code. Why, you ask? Well, I was recently asked if someone could deduct a charitable contribution for donating the right to use their personal vacation home for 1 … Continued

Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

Posted by Saaib Uppal Don’t you just love the holiday season?  People are walking around with smiles, vacations are being used, and parties fill your calendar.  It seems as if the Internal Revenue Service has joined the festive club as they announced that they are allowing tax-exempt organizations with January and February filing due dates to file by March 30, 2012.  This … Continued

Do iPads have a place in nonprofits?

Posted by Saaib Uppal, Staff Accountant Since our childhood, we have always been fascinated by THE new toy that you just had to have. While we eventually grow, and like to say we’ve matured, that mindset tends to stay with us.  The only difference now is that while before we just had to have it because all of our friends did, now … Continued

8 Tips for Running a Valid Accountable Plan

Posted By Saaib Uppal, Staff Accountant If you are managing a nonprofit company that carries an accountable plan for employee business expense reimbursements, you should ensure that you are in compliance with IRS requirements.    Not being so will leave you at risk of having to add reimbursed expenses as earnings on the employee’s W-2 form.  Below is a quick summary … Continued