Your NPO and Unrelated Business Income
It is important for nonprofit organizations to understand the rules surrounding UBI and taxation to avoid potential penalties or loss of tax-exempt status.
It is important for nonprofit organizations to understand the rules surrounding UBI and taxation to avoid potential penalties or loss of tax-exempt status.
In addition to its effect on individuals and businesses, The Tax Cuts and Jobs Act (TCJA) includes provisions that may have a significant impact on nonprofit organizations. A few of the provisions that will impact nonprofits are: the increase in the standard deduction, changes to itemized deductions limits, transportation fringe benefits to employees, Charitable deductions associated with preferred seating, and multiple unrelated businesses.