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GRF Partners Jennifer Arminger and Richard J. Locastro Speak to Implications of the New Tax Law on Tax-Exempt Organizations

Event type:  Seminar
Date:  April 25, 2018
Time:  11:30AM EST-1:30PM EST
Location: 

800 Connecticut Avenue, NW
11th Floor
Washington, DC 20006

Details: 

Join us on April 25 for a chance to hear GRF Partners Jennifer Arminger and Richard J. Locastro present on the Implications of the New Tax Law on Tax-Exempt Organizations, hosted by Bernstein. Bernstein is a financial planning and investment managing company in the Washington, D.C. area and nationwide.

The recently passed Tax Cuts and Jobs Act (the Act) contains many provisions that impact tax-exempt organizations.  There will undoubtedly be comprehensive analyses addressing the changes followed by guidance from the IRS on its interpretation of the new law. However, there are several significant provisions in the Act that we believe tax-exempt organizations should be aware of now, during 2018.  Some highly discussed topics include:

Unrelated Business Taxable Income (UBTI)

The Act requires that tax-exempt organizations calculate UBTI separately for each “trade or business”.  A loss from one activity cannot be used to offset income from another activity.  For example, a tax-exempt organization with a UBTI loss from the rental of debt-financed real property cannot use that loss to offset UBTI income from advertising.

UBTI resulting from certain fringe benefits expenses

For a taxable entity, the Act disallows a deduction for employer costs incurred in providing certain employee non-taxable fringe benefits (Code section 132(f)), including qualified transportation fringe benefits, parking facilities used in connection with qualified parking, and any on-premises athletic facility.  To put a tax-exempt organization (which generally does not claim tax deductions) on the same footing as a taxable corporation, the Act requires the tax-exempt organization to report as UBTI the amount spent or incurred on these benefits.

And Many More…..

Join us for a discussion that will help your nonprofit’s leadership understand how the new law may impact your organization. Attendees will come away with practical guidance to prepare their organizations for the changes ahead as well as insights on dealing with the uncertainties inherent in any new legislation.

Speakers

The seminar will be presented by Tax Partner Richard J. Locastro, CPA, JD, Audit Partner Jennifer Arminger, CPA and Your Part-Time Controller’s (YPTC) Senior Manager Harriet S “Hatsy” Cutshall.

 

RSVP – SPACE IS LIMITED

RSVPwdc@bernstein.com

Presenters:  Jennifer Arminger
Richard J. Locastro

In the years that I have been working with Robert Albrecht, he has proven to be one of the most productive, reasonable and reliable auditors I have ever worked with. He takes his time analyzing the audit conditions at HQ and mission level before the audit to ensure that the time spent at our facilities is productive and can be 100% dedicated to the important task of finishing a reliable, complete audit in a timely manner

Luis M. Garcia |  Director of Finance
Action Against Hunger (ACF) International