Entries by jheveron

Spring 2018 Newsletter

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Download the complete newsletter HERE INSIDE THIS ISSUE: • How the New Tax Laws Affect Nonprofits • Stephanie Annunziata, CPA, presents a nonprofit update to the Monroe County Bar Association • Leading with Intent: a BoardSource Report • Volunteering Out of Unrelated Business Income Taxation • How the New Federal Tax Law Affects Affordable Housing […]

How the New Tax Law Affects Nonprofits

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The recently enacted tax law has both direct and indirect effect on nonprofits. The indirect effect is the decreased tax incentive for charitable contributions that results from doubling the standard deduction, decreasing individual and corporate tax rates, and increasing the estate tax exemption. It is difficult to know how these will affect charitable giving, but […]

How the New Federal Tax Law and the New York State Budget Affect Affordable Housing: Heveron & Company CPAs

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The new tax law was not a direct hit on affordable housing, affordable housing tax credits remain intact, and interest on affordable housing private activity bonds continue to be nontaxable, but some say that it will have a significant indirect adverse affect, because reduced corporate tax rates decrease incentive to purchase affordable housing tax credits. […]

Winter 2017 Newsletter

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Download the complete newsletter HERE INSIDE THIS ISSUE: • Upgrade and Simplify Your Accounting System • Related Activities Can Result in Unrelated Business Income • Form 1099-MISC Filing Reminder • What IRS Has in Store for Nonprofits During 2018 • No More Housing Allowance for Clergy? • How Good Is Your Charity’s Reputation? • WebStar […]

Internal Controls over Federal Awards

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Uniform Guidance (guidelines for organizations receiving federal awards) states that you must establish and maintain internal controls over federal awards that provide reasonable assurance that you are managing them in compliance with general federal requirements and the specific rules for the funding you receive. Internal controls should be in compliance with the Green Book and/or […]