Thinking About Forming a New Charity?

Thinking About Forming a New Charity?

Sep 17, 2020 | Business Consulting, IRS

We see a lot of interest in forming nonprofit organizations around our clients’ interests and favorite causes. Does your organization qualify as a charity? The IRS lays out specific stipulations for organizations that want 501(c)3 status in their latest Tax Tip.  If...
529 Distributions & College Refunds

529 Distributions & College Refunds

Sep 14, 2020 | COVID-19, Education

Important to remember as we try to get our college students back to school:  Distributions from 529 plans must be used to pay qualifying expenses incurred during the tax year. If you receive a refund of tuition, fees, or room and board paid from 529 plan funds, put...