Calculating Indirect Rates for Nonprofits
Gelman, Rosenberg & Freedman Audit Partner Bob Albrecht, CPA, addresses the importance of indirect cost rates for various areas of nonprofit management and how to calculate them. Topics include: How to choose the right rate for your organization Preparation of rates in accordance with OMB Circulars A-122, A-121 and A-87 Establishment and approval of rates…
2012 Year-End Tax Planning Letter
The taxes implemented by the affordable care act and the expiration of many current tax cuts bring a great deal of uncertainty to this tax season. Gelman, Rosenberg & Freedman’s 2012 Year-End Tax Planning Letter provides advice on how to manage your tax situation in light of these uncertainties and how to take advantage of…
Capital Management for Nonprofits
Senior Audit Manager Trevor Williams presented on “The Effective Management of Nonprofit Investments: The Auditor’s Perspective” at a September 18, 2012 seminar entitled Capital Management for Nonprofits. Mr. Williams co-presented with Dwayne Jackson, a principal at Rembert Pendleton Jackson and Mike Gordon, vice president at Stout & Teague, and reviewed the following items: Keys to…
I Have to Report That, Right?
Gelman, Rosenberg & Freedman Nonprofit Tax Principal Richard Locastro, CPA, JD spoke at the American Institute of Certified Public Accountant’s Not-For-Profit Industry Conference on reporting rules for payroll, Form 1099 and other nonprofit transactions. Listen to his presentation here. The IRS reporting requirements of an not-for-profit’s many transactions can be confusing and overwhelming. Failure to…
Examining the Layers of Lobbying Tax Regulation
Gelman, Rosenberg & Freedman Nonprofit Tax Principals, Stephen Kelin and Richard Locastro, and Harmon, Curran, Spielberg + Eisenberg Attorney Elizabeth Kingsley navigate the legal requirements to maintain tax‐exempt status and explain the necessary filing requirements under the Lobbying Disclosure Act and IRS Forms 990 and 1120‐POL. You can also listen to the presentation here. In addition to…
Nonprofit Board Members: Role and Responsibilities
The value of a well-informed board of directors at nonprofit organizations cannot be taken for granted. Because board members are usually selected for multiple-year terms, clarifying the function of a board of directors and the responsibilities of its individual members is essential. The basic legal responsibility of a board member is to exercise reasonable business…
2012 Social Security Seminar
Walter H. Deyhle CPA, director of the tax and business valuation department at Gelman, Rosenberg & Freedman, presented at a complimentary social security seminar for the firm’s client’s on Tuesday, May 22. Among the topics covered were: Retirement benefit qualifications Steps to recover maximum benefits Strategies for single people, married couples, survivors and divorced individuals Medicare…
2011 Form 990-EZ
Nonprofit Tax Principal Stephen J. Kelin presents an overview of tax filing requirements for nonprofits and goes into detail about the schedules that make up the Form 990-EZ. Topics include: Interested Persons Net Assets Grants and Loans Unrelated Business Income Political intervention and Lobbying Fundraising Activities Required and Voluntary Disclosures
Health Care Act Planning Letter
President Obama signed into law the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Act in 2010. Though many of the changes that these laws mandate will not take effective for several years, it is nevertheless important to understand them so you can adequately plan for yourself and your business….
2011 Mid-Year Tax Planning Letter
Gelman, Rosenberg & Freedman’s 2011 Mid-Year Tax Planning Letter provides pointers on how to save money on your taxes through advance planning. Advice about retirement plans, stocks that reduce your tax liability and various available credit is available. Download this letter and start planning how to derive the most benefits from our expert advice.