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Nonprofit Earned Income Fundamentals

Learn how to maintain your clients' tax exemptions and avoid the many pitfalls in this area of tax law.

Many advisers to nonprofit organizations in the U.S. may be uncertain of what income earning activities are permitted, what activities may jeopardize such organizations' tax exemptions and how to manage such activities in such a way as to reduce applicable risks. With the many exceptions and exceptions to exceptions in this area of tax law, many professionals need a map of the issues.

Runtime: 88 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Basics of Nonprofit Earned Income - Consequences

  • Unrelated Business Income Tax - Introduction
  • Sanctions/Penalties
  • Impact on Exemption

Unrelated Business Income Tax

  • Detailed Rules of Operation
  • Exception for Exempt Functions
  • Passive Activity Exception
  • Unrelated Debt-Financed Income

Reporting

  • Federal Tax Returns
  • Special Rules Regarding Separate Trades or Businesses
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on November 23, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.0
     
  • HI CLE 1.25
     
  • ME CLE 1.0
     
  • NJ CLE 1.8
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William M. Funk, Esq.

William M. Funk, Esq.

Law Office of William M. Funk

  • Principal of the Law Office of William M. Funk
  • Provides representation and advisory services regarding tax issues of individuals, businesses, nonprofits and funds
  • Experience includes obtaining tax exemptions for charitable organizations, trade associations and other not-for-profit organizations and advising on continued compliance, executive compensation, unrelated business income tax issues, cross-border grants and dissolutions
  • Has also structured, documented, and negotiated a broad spectrum of domestic and cross-border transactions
  • He has represented taxpayers before the Internal Revenue Service and the New York State Department of Taxation and Finance on a range of matters including audits, tax controversies and tax collections matters and successfully negotiated resolutions with respect to income tax, sales tax and employment tax liabilities and penalties
  • Can be contacted at 212-973-1100 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404778
Published 2020
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