IRS Announces Interpretation of the Expanded Group of Nonprofit Employees Subject to Compensation Limitations Under Section 4960
Under Section 4960 of the Internal Revenue Code, a nonprofit organization is generally subject to a 21% excise tax on compensation paid to “covered employees” in excess of $1 million in any year (and…
Read the full articleYou might also wanna read
U.S. Nonprofits Handle $3 Trillion Annually, More Than UK's GDP
U.S. nonprofits handle more revenue than the GDP of the United Kingdom. Their reporting requirements are different from publicly traded comp
charitysense.com·4mo ago
Social Security Benefit Taxes Remain Unchanged Under New One Big Beautiful Bill Act
Seniors can lower their PI via capital losses, annuities, growth stocks, life insurance, or IRA contributions.
cpapracticeadvisor.com·1mo agoNew Tax Rules Are Making This Charitable Giving Strategy Even More Valuable
The One Big Beautiful Bill has materially changed the economics of qualified charitable distributions. The post New Tax Rules Are Making Thi
Understanding Reasonable Compensation for Closely Held Business Owners: IRS Scrutiny and Tax Implications
For owners of closely held businesses, compensation planning is more than just a business decision—it’s a tax strategy that can invite IRS s
jdsupra.com·2d agoEvery 1099 Travel Nurse Contract You Take Without a Solo 401(k) Torches Up to $72,000 in Tax-Free Retirement Room
Travel nurses working under 1099 agency contracts occupy a rare tax position: they are simultaneously the employee and the employer of a one
Labor Department Finalizes New Long-Form Financial Disclosure Rule for Large Unions
The Labor Department has created a longer financial disclosure form for the largest unions to use, altering the way labor reports its financ
news.bloomberglaw.com·1mo ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.