On August 7, 2020, the IRS released final regulations (T.D. 9907) regarding the interaction of the $10,000/$5,000 cap on state and local tax (SALT) deduction and charitable contributions. Your SALT deduction includes real estate taxes, state income taxes (unemployment, disability, family leave, personal property taxes) and local taxes. For tax years after 2017, an individuals Read More…
Traditionally, the initial and annual charity registration forms were filed on paper with the NJ Division of Consumer Affairs (DCA). However, starting January 1, 2017, all New Jersey charitable filings must be done on-line. The on-line filing with the Division of Consumer Affairs is to be done through the DCA Portal (https://njconsumeraffairs.state.nj.us). You need to Read More…
There are two key phrases when filing an annual NJ charitable registration form for Section 501(c)(3) non-profit organizations: “gross revenue” and gross contributions”. If a NJ charitable organization has over $500,000 of annual gross revenue, they must attach an audited financial statement prepared by a certified public accountant to the NJ Form CRI-300. You cannot Read More…
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