Tag Archives: business income

NONPROFIT ORGANIZATIONS AND THE TANGIBLE PROPERTY REGULATIONS

What are the tangible property regulations?  These regulations were issued by the Internal Revenue Service (IRS) to provide guidance for the acquisition, production or improvement of tangible property—buildings, furniture, fixtures and equipment assets, typically—which must be capitalized and depreciated, deducted in the future or deducted immediately. On a more granular level, these rules dictate how Read More…

HOW TO PROTECT YOUR NONPROFIT’S TAX EXEMPT STATUS

Although it is not common to have a tax-exempt status revoked, it does happen.  Decrease the chance that your organization’s tax-exempt status could be revoked by following these rules: Corporate Records:  All nonprofit organizations must keep good records.  These records should consist of, at a minimum, the original articles of incorporation, including any amendments, bylaws, Read More…