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Non-Profit Endowments

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Managing an Endowment A large endowment that will keep your Non-profit financially worry-free in the future and allow it to fulfill its mission is a universally longed for dream. In the real world, endowments also carry serious responsibilities, created by the Uniform Prudent Management of Institutional Funds Act (UPMIFA). Many smaller non-profit organizations believe that […]

Trusts

Take care of a loved one who has special needs with an SNT

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Special needs trusts (SNTs), also called “supplemental needs trusts,” benefit children or other family members with a disability that requires extended-term care or that prevents them from being able to support themselves. This trust type can provide peace of mind that your loved one’s quality of life will be enhanced while not disqualifying him or […]

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3 strategies for tax-smart giving

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  Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that for married couples with proper estate planning strategies in […]

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PARTNERSHIPS: If you thought TEFRA was bad, these new partnership audit rules change the game….

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PARTNERSHIPS: If you thought TEFRA was bad, these new partnership audit rules change the game….   The rules apply to returns for partnership tax years that begin after December 31, 2017, including amended returns. These new rules effectively impose a tax on the partnership for changes found during an audit. Anyone operating as a partnership or […]

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What is a DAF?

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Charitable giving through a Donor-Advised Fund (DAF) Donor-Advised Funds (DAF) are a unique opportunity if you are planning to make substantial charitable donations in the coming year. This type of account allows you to take a charitable income tax deduction immediately, while allowing time to make a decision about how much to give and to […]

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Non-Profits and Education Related Activities

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Your non-profit may provide education related activities. Your board and organizers may have in mind that their activities are all tax exempt. Educational activities may be tax exempt, but there are other tests for tax exemption as well. An educational activity must benefit the public interests, and not private interests. The interpretation of “benefiting the […]