Wednesday, March 29, 2017

Which nonprofit organizations are required to file with the IRS? Do they file the Form 990, 990-EZ, or 990-PF?

There is a difference between registration and filing. Tax-exempt organizations with more than $5,000 in annual gross receipts must register with the IRS, but they don't have to file the annual information report until they reach annual gross receipts of $25,000. Religious congregations have automatic Section 501(c)(3) status and are not required to register or file. Foundations of any size must register and file.

Nonprofit organizations with over $25,000 in annual gross receipts are required to file Form 990 with the IRS. Organizations that have gross receipts between $50,000 and $100,000 and less than $250,000 in total assets at the end of the year can opt to file a shorter form called Form 990-EZ. Private foundations of any size file Form 990-PF. Since some funders require Form 990, some smaller nonprofit organizations do file Form 990 even though they are not required to do so by the IRS.

Tuesday, March 28, 2017

Do nonprofit organizations qualify for Specialized Tax Incentives?

Without going into the hundreds of nuances individual nonprofit organizations may have, the answer to this boils down to one simple question, "Does the organization pay taxes?"  If the answer to this question is, "Yes."  Then it is worth taking a look at Specialized Tax Incentives for them.

Sunday, March 19, 2017

Save up to $9,600 for every employee you or your clients hire....

Keeping clients informed of new or expanded Federal Tax Programs is very important to us. We’ve identified a tax credit that Client Company immediately qualifies for.

This program falls under the Worker’s Opportunity Tax Credit (WOTC), and is a Federal tax credit available to all employers who hire and retain qualified individuals. Employers currently claim about $1 billion in credits each year under the WOTC program. The average credit per qualified employee is $2,400 and can be as much as $9,600.

Some of our clients are familiar with the WOTC program and it’s benefits but have not taken advantage of it due to it’s historically difficult qualification process. We’ve eliminated all difficulties of this process with the creation of our exclusive Client Portal. We’ve provided you an easy way to pre qualify and capture your tax credits.

If you’re wondering “if” you qualify, the answer is ANY business that hires employees qualifies.

To get started simply this link and answer the two questions provided.

If you have any questions or would like to learn more about the WOTC, please feel free to email back to this email and your Advisor will respond immediately.

Kind Regards,

Larry G. Potter