Nonprofit Earned Income Fundamentals
1 hour 30 minutes
Learn how to maintain your clients’ tax exemptions and avoid the many pitfalls in this area of tax law.
Many advisers to nonprofit organizations in the U.S. may be uncertain of what income earning activities are permitted, what activities may jeopardize such organizations’ tax exemptions and how to manage such activities in such a way as to reduce applicable risks. With the many exceptions and exceptions to exceptions in this area of tax law, many professionals need a map of the issues.
• You will be able to discuss the basic rules and structure for understanding taxation of a nonprofit organization’s earned income.
• You will be able to recognize issues regarding classification and reporting of earnings of a nonprofit, including important exceptions.
• You will be able to describe the types of the income earned by nonprofits.
• You will be able to identify situations in which a nonprofit organization may be at risk of federal tax penalties or even of losing its tax exemption.