Editor’s note: On January 12, 2021, the IRS released final regulations for Internal Revenue Code Sec. 4960, which provided certain nonprofit organizations with more clarity around the 21 percent excise…
Discover How Rental Real Estate Enterprises May Qualify for New 199A Pass-Through Deduction
Will rental real estate entities qualify for the 20 percent Section 199A pass-through deduction? This question has been on the mind of business owners and tax professionals since tax reform…
Earn Tax Benefits for Community Investments under New Federal Opportunity Zone Program
Tucked inside the Tax Cuts and Jobs Act is a new economic development initiative that offers preferential tax treatment for investments in distressed communities. Investors can support the revitalization of…
No Parking Zone: Tax Reform Eliminates Deduction for Employer-Funded Parking Expenses
As part of ongoing efforts to translate tax reform into regulatory reality, the IRS release guidance in early December 2018 that will increase taxes for any for-profit organization that provides parking…
Tax Reform Treatment of Employee Parking Costs Increases Taxable Income for Nonprofits
Editor’s note: Effective December 20, 2019, nonprofit parking and transportation benefits will no longer be counted as unrelated business taxable income. This full repeal was part of the Taxpayer Certainty…
