In order to attract or retain the most competent and proficient person as an executive director, a nonprofit’s board of directors should consider level of compensation. How much is too much? What parameters classify reasonable compensation? Thankfully the IRS has put in place regulations to answer these very questions.
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Topics: Compensation, IRS Regulation, Nonprofit, Salary, Tax, Uncategorized
Special events can be exciting and are a great way to gain community involvement. With that being said, special events are very stressful to plan. On top of planning – how do you classify your associated revenues and costs? There may be more your nonprofit must do than to simply lump everything together as “fundraising.”
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Topics: Special Events, Contribution, Donors, Financial Reporting, Fundraising, Nonprofit, Statement of Activities, Tax, Transactions, Uncategorized
The Georgia International Business Index (GIBI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, a top Atlanta accounting firm, and is produced quarterly by the Econometric Center at Kennesaw State University.
The GIBI fell by 10.7 points from 69.8 to 58.9 in the second quarter of 2014.
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Topics: distribution, Econometric Center, Employment, GIBI, global, inventory, Kennesaw State University, KSU, manufacturing, Production, Tax, Uncategorized
In early June, the European Commission increased pressure on Ireland, the Netherlands and Luxembourg over their corporate tax practices, saying it would investigate deals they cut with Apple, Starbucks and Fiat. In fact it warned Ireland, which offers offshore tax status, that it could investigate more companies beyond Apple as part of its probe into taxes.
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Topics: Tax Law, EU, International Tax, Tax, Uncategorized
Taxpayers Don't Have to Report Virtual Currency on FBARs - Yet
Posted by celliott on Jul 24, 2014 11:14:41 AM
Bitcoin and other virtual currency are proving to have greater lasting power than many predicted when they first attracted broad public attention. They’re even beginning to attract the attention of taxing authorities.
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Topics: Bitcoin, FBAR, International Tax, Tax, Uncategorized
The IRS has released instructions for filing Form W-8BEN-E, “Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities).”
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Topics: FATCA, Form W-8BEN-E, International Tax, Tax, Uncategorized
Bonus Depreciation Legislation Passes House, but Faces Hurdles
Posted by celliott on Jul 15, 2014 9:21:52 AM
On July 11, 2014, the House passed legislation permanently extending bonus depreciation. The Senate is expected to advance a temporary extension, rather than a permanent one, so the stage is set for further deliberation. The President has threatened to veto the measure if it makes it through Congress.
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Topics: Bonus Depreciation, Section 179, Tax, Uncategorized
Commercial developers, landlords and brokerage teams are all looking for ways to build and promote sustainability in their projects. Likewise, tenants are looking for "green" workspace. Smith & Howard's space at 271 17th Street is, in fact, a LEED Certified building. We understand the importance of green space from many perspectives. But understanding the rules behind sustainability standards can be frustrating and creating a sustainable project that can be reflected in tenants' leases has been a daunting task.
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Topics: Going Green, Green Lease, real estate, Tax, Uncategorized
Many individual taxpayers involved in real estate investment or development maintain a home office. But, even though the IRS recently made it easier to claim the home office deduction, you may still not qualify for it.
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Topics: Deduction, Home Office, real estate, Safe Harbor, Tax, Uncategorized
There are many ways to buy real estate. Some buyers acquire properties outright, while others choose a less-advantageous acquisition method by acquiring C corporation stock that holds the property as its primary asset. If you select the latter route, understand that you could encounter some tax pitfalls and legal complications.
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Topics: C Corporation, real estate, Tax, Uncategorized