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I Have to Report That, Right?

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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 properly report transactions with employees, donors and others can have severe implications . This session discusses the proper payroll, Form 1099 and other reporting rules for a host of transactions.

In this presentation, Richard Locastro covers reporting aspects of everything from  employee issues such as whether an employee can receive a W-2 and a 1099, donated leave time and local lodging to employees, to less common questions involving scholarships, raffle winnings and vehicle donations. He also dedicates extensive time to the reporting requirements of employer-provided healthcare benefits.

When selecting an auditor, the Council on Social Work Education sought a firm that could bring the greatest technical expertise to our organization. I remember my first meeting with Terri McKnight. As a new Executive Director, I felt very confident that she and Gelman, Rosenberg & Freedman had a handle on the nonprofit industry and could help us make better financial decisions for our environment.

Dr. Julia Watkins |  Executive Director
Council on Social Work Education