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Course Details

Unrelated Business Income Tax - Information for Charities and Other Not-for-Profits

Webinar: ID# 1014750
Recorded CD
Qty:
About This Course:
This live webinar will provide you with an update on certain key focus areas of the IRS and the implications of the IRS's Compliance Project Final Report. While the report focused on colleges and universities, the findings will have further reaching impact on all exempt organizations.

The recently issued report by the Advisory Committee on Tax Exempt and Government Entities, "Analysis and Recommendations Regarding Unrelated Business Income Tax Compliance of Colleges and Universities" contains drastic revisions to Form 990-T and corresponding activities for all entities.

This live webinar will enable you to address some of the old and new issues that currently face the sector in the area of unrelated business income tax, and will explain some of the nuances of what constitutes UBIT and what is mission or exempt revenue. For instance, how do organizations' recognize the potential pitfalls or take advantage of new or specifically tax exempted alternative revenue sources?

Agenda

Definition of Unrelated Business Income
  • History
  • Basic Principals
  • Tax Rates, Tax Forms and Organizations Subject to UBIT
What Income Is Subject to UBIT?
  • Substantially Related Income
  • Specifically Excluded Income
  • Debt Financed Property
  • Rents From Real Property Based on Net Profit
Alternative Revenue Sources and Information
  • Website Activities
  • Acknowledgments or Sponsorship vs. Advertising
  • Digest of Published Rulings
  • Partnership Investments – Review of Form K-1
  • Colleges and Universities Project Final Report
  • Additional Materials and Resources
About The Presenters

Joe Giso, CPA, MST
  • Managing director at CBIZ Tofias in Boston, Massachusetts
  • Head of CBIZ, Inc. National NFP Tax Technical Community
  • Member of the NFP Tax Group and the firm’s Not-for-Profit and Education Practice
  • Former senior tax director in the Boston office of McGladrey
  • Provides tax consulting services dedicated to improving the accountability and efficiency of tax-exempt organizations and consulting in intermediate sanctions, lobbying, unrelated business income, website reviews, charitable solicitations and foreign reporting requirements
  • Consulted Harvard Management Company, Inc.; Museum of Fine Arts; Museum of Science; University of New England; Lowell General Hospital; Grand Lodge of Masons in Massachusetts; Lasell College; American Public Television; Massachusetts Society for the Prevention of Cruelty to Animals; St. Joseph’s College of Maine; National Fire Protection Association; Pathfinder International; The Home for Little Wanderers; Buckingham, Brown & Nichols School; and New England Aquarium Corporation
  • Professional affiliations include the American Institute of Certified Public Accountants and the Massachusetts Society of CPAs
  • Certified public accountant
  • M.S.T. degree, Bentley College; B.A. degree in accounting, Suffolk University
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Unrelated Business Income Tax - Information for Charities and Other Not-for-Profits
Available on CD format
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Course Details
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