Tax Reform - What Nonprofits Need To Know

Implications of Tax Reform for Nonprofits

On December 22, 2017 the President signed the highly anticipated tax bill known as the Tax Cuts and Jobs Act into law. The tax act was the first major overhaul of the US tax system in three decades and contains provisions affecting nonprofit organizations and their donors. This presentation will review several provisions of the new law to prepare nonprofit organizations for the implementation. Topics will include: 

• Automatic inclusion of qualified transportation and on-premises athletic facility fringe benefits as unrelated business income
• Creation of an organizational excise tax on excessive compensation paid to the top five highest compensated employees
• Separate computing of unrelated business income for each trade or business activity
• Increased deductibility of individual donations to 60% of adjusted gross income
• Repeal the donor substantiation exception for contemporaneous written acknowledgement for contributions reported by donees
• And much more!

Presenter: Garrett Higgins, Partner-in-Charge of Exempt Organizations Group, PKF O’Connor Davies

Garrett M. Higgins is a Partner of the Firm and serves as Partner-in-Charge of the Exempt Organization Tax and Advisory Services Group. He has more than 15 years of experience providing tax compliance and advisory services to tax-exempt organizations.

His specific areas of tax and business expertise encompass unrelated business income tax planning, state and local tax planning and reporting, executive compensation, limited liability companies of tax-exempt organizations, use of taxable subsidiaries of tax-exempt organizations, intermediate sanctions planning and compliance and fundraising.

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