Note: If you file estimated tax payments during the course of the year, don't forget that payments for Q2 of 2019 are due on June 15th to the IRS!

Tax Tip of the Month: Maintaining the Tax Status of a Non-Profit Organization

Did you know that in order to maintain their tax-exempt status, a non-profit organization must file a tax return at least once every three years? If they fail to do so, the IRS will revoke their status as a non-profit. If this has happened to a non-profit organization you are affiliated with, don't worry. You can re-apply for your 501(c)3 status, and we can help you with that process. Click here for more information about our services for non-profits.

Leave Us A Review At Benjamin H. Johnson CPA, we love getting feedback from our customers. Let us know how we're doing by leaving us a rating and review. It not only helps us improve our service, it also helps other people make a better buying decision. Click here to give us feedback.

Picture of the Month We've had a lot of rain in central Virginia lately, which means the potential for some great rainbows. Here's one such perfect rainbow as seen from the Johnson family farm after a recent storm.

Latest Firm News

Recently, Ben attended a continuing education seminar on investments and the health of the U.S. economy. According to the presenters at the seminar, despite the fact that we are experiencing the longest period of economic expansion in the country's history, all signs are for that expansion to continue for the foreseeable future. Time will tell if they are correct. In other firm news, we have recently hired a 4th-year accounting student from Longwood University as an intern. They will be working with the firm all summer to install an integrated billing system. It is a great opportunity for students to gain real-world experience working in the field of accounting.

Featured Video: Getting your Tax Exempt Status Back In our tax tip of the month, we mentioned that you can re-apply for tax exempt status if you are a non-profit organization who has lost that status. Here's a video from the IRS with more information about that process.

Featured Resource: Federal Tax Obligations of Non-Profit Organizations

Non-profit status may make an organization eligible for certain benefits, such as state sales, property, and income tax exemptions; however, this corporate status does not automatically grant exemption from federal income tax. To be tax exempt, most organizations must apply for recognition of exemption from the Internal Revenue Service to obtain a ruling or determination letter recognizing tax exemption. You can learn all about the federal tax obligations of non-profit organizations on the IRS website here .

Featured Customer: The Barn at Gully Tavern

Robert and Dawn Schmidt are the owners of The Barn at Gully Tavern, a wedding venue in Rice, Virginia. Initially, they built the barn for both of their daughter’s weddings. People fell in love with the barn, just as they did. Now they are opening their doors to the public in hopes of having other couples celebrate their love for one another at their venue. Click here to learn more about The Barn at Gully Tavern.