Tax Tip of the Month: Filing Requirements for Non-profit Organizations

The end of the year is a busy time for many non-profit organizations. Many charitable organizations are active in their core field of mission during the holidays, but even if they aren't, they are probably busy soliciting their donors for end-of-year gifts. As they get ready for 2019, it is important that they keep in mind the tax filing requirements for non-profit organizations. For example, did you know that there are three different levels of non-profit organizations , based on income, as far as the IRS is concerned? Or that Virginia has specific requirements for non-profit organizations who solicit donations? If you need to read up on all of the requirements, you can do so here on the IRS website, or click here for requirements specific to Virginia. And of course, you can always contact our office for assistance!

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Picture of the Month Santa's a busy guy this time of year, and like many business owners he can get overwhelmed with all the responsibilities that come with running his business while at the same time serving his customers well. Don't be like Santa! Take advantage of the small business services provided by Benjamin H. Johnson CPA, including payroll and accounting services, to reduce your workload so you can enjoy the holidays!

Latest News On December 20th, Ben Johnson will be speaking at the Farmville Rotary Club lunch at Charley's Waterfront Cafe on the topic of the new tax laws affecting 2018 returns. If you're interested in attending, contact the Rotary Club for more information. Also, earlier this month on December 12th and 13th Ben attended a tax conference in Richmond put on by Virginia Tech. It's all part of his preparation for the upcoming tax season which will start right after the holidays.

Featured Video: Why You Need a CPA As the 2019 tax season approaches, it's a good time to remember some of the benefits that come from using a CPA to prepare your tax return vs trying to do it yourself. In the video below, Ben goes over those benefits and makes a strong case that far from costing you money, engaging the services of a CPA will probably save most people money by virtue of allowing them to take full advantage of various tax deductions that they might otherwise have been unaware of.

Featured Resource: IRS Resources for Non-Profits In our tax tip of the month, we referenced the filing requirements for non-profit organizations. The IRS has an extensive amount of information for non-profits on their website. Here are a direct links to a few areas that may be of interest: Series 990 forms and schedules Tax information for charitable organizations Filing thresholds for various 990 forms Annual reporting requirements FAQs

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