Tax Reform

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New Tax Could Hit Many Nonprofits Paying $1 Million-Plus Employees

David Thompson, vice president for public policy at the National Council of Nonprofits, said he feared the new rules could have a chilling effect on nonprofit mergers and discourage talented workers from jumping into the nonprofit world.

Tags: Tax Reform, Compensation
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Some local nonprofits are seeing fewer donations in wake of federal tax law changes

Jeff Shaw, director of public policy at the CT Nonprofit Alliance, which represents small- to medium-sized nonprofits, said the recent survey results are concerning, but he warned it's too early to determine whether the downturn in donations is a...

Tags: Connecticut, Tax Reform, Charitable Giving
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UBIT Benefits Discussed At Capitol Hill Hearing

Section 512(a)(7) of the tax law would impose an unrelated business income tax (UBIT) on the expenses of nonprofits that provide employees with transportation benefits, such as, transit passes and parking. ...

Tags: Tax Reform, Transportation Tax, UBIT
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Mnuchin suggests further action on parking tax up to Congress

Based on Mnuchin's and Brady's comments, and House Speaker Nancy Pelosi's recent statement that Democrats will take their time on fixes to the 2017 tax law, Thompson said he's not optimistic repeal will happen anytime soon.

Tags: Transportation Tax, UBIT, Tax Reform
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Donations to Colorado charities fell flat last year and some are blaming Trump’s tax law

Nonprofits nationwide are bracing for what could be an even larger decline in 2018 because of changes that gave taxpayers a larger standard deduction for 2018 and made itemizing unnecessary for many.

Tags: Colorado, Charitable Giving, Tax Reform
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Trump tax law threatens charities. The poor will pay.

“The preliminary data is showing for the small- to mid-sized nonprofits, they’re the ones suffering the most.

Tags: Tax Reform, Charitable Giving, Nonprofit Impact
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Lawmakers pass tax cleanup bill late Wednesday night

The Kentucky Nonprofit Network released the following statement on the bill's passage.

Tags: Kentucky, Tax Reform, Sales Tax
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Charitable giving: How to maximize your donations

“We know that most people who donate to charitable nonprofits do so because they believe in the mission of the organization and not for a tax deduction,” said Rick Cohen, Chief Communications Officer for National Council of Nonprofits.

Tags: Tax Reform, Charitable Giving
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A priest, a minister and a rabbi get free parking spots …. and the Trump tax law makes their congregations pay! We’re not joking.

The tax applies to things such as as free parking, employer-subsidized transit fares and even flexible spending accounts such as the pre-tax deductions for mass transportation expenses, said Linda Czipo, president and chief executive of the...

Tags: Transportation Tax, Transportation Benefits, Tax Reform, New Jersey
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What About Those Fringe Benefits?

But the nonprofit sector is increasingly worried that no such bill will become law before the filing season comes to an end.

Tags: Transportation Tax, Tax Reform, Transportation Benefits, UBIT

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