If you own any investment, you’ve likely heard the word basis. It can be a complicated concept, but it boils down to one simple idea, namely what your economic interest is in an investment. For example, if you purchase stock… Read More
Transportation Fringe Benefits May Not Drive Up Your UBIT
When the Tax Cuts and Jobs Act originally added the nonprofit transportation (primarily parking) tax, most entities were worried that they would be subject to additional taxes. However, new guidance was issued in December of 2018 clarifying the tax and… Read More
Estate Taxes Hurt! Think About a QPRT!
Living in beautiful San Diego, it should not come as a surprise that there are homes in neighborhoods like Del Mar and Rancho Santa Fe that are valued anywhere from $1 million to upwards of $20 million. If you own… Read More
Audit Requirements for Employee Benefit Plans
Does your employee benefit plan require an audit? The U.S. Department of Labor (“DOL”) generally requires all large plans file audited financial statements with the plan’s tax filing of Form 5500. A large plan is defined as a plan with… Read More
Are You Subject to AMT Under the New Tax Law?
The Tax Cuts and Jobs Act of 2017 made many changes to the individual tax law, including many changes affecting alternative minimum tax, or AMT. The Act significantly increased AMT exemption amounts along with the associated phase-out thresholds. With the… Read More
Risk Assessment: Have You Considered Risk in Your Business Decisions?
There are pivotal decisions made in our lives and careers that can lead to undesired consequences. Often, these undesired consequences can be mitigated by assessing risk on a regular basis before decisions are made. Risk assessment is a great tool… Read More
An Executive Director and a Lobbyist Walk Into a Bar…
Can a nonprofit organization get political? Could penalties be involved? Could the organization’s exempt status be at risk? It may be surprising to learn that some nonprofits may be able to engage in legislative lobbying activities. The main caveat to… Read More
Using Trusts to Accomplish Your Charitable Giving Goals
With the increase to the standard deduction under the Tax Cuts and Jobs Act, it is more important than ever to carefully plan out your charitable giving to maximize the deduction on your tax return. Charitable trusts provide a way… Read More
Business Accounting 101
Properly accounting for your business activities can be just as confusing as it is important. The financial statements that you provide to us each year serve as our map to completing your business tax returns. Read on for tips on… Read More
Which one is better for you? HSA, FSA, or neither?
While your employer might provide you the benefits of having a Health Savings Account (HSA) or a Flexible Spending Account (FSA), it is important to know the differences and how they might affect your tax returns. Read on to see… Read More
