Congress has been promising an overhaul of the tax code for the past couple of years, with virtually no progress. However last month, Congress managed to pass new tax legislation. On July 31, 2015 President Obama signed...more
TWO WEEKS ONLY!
Congress has finally approved the extenders bill in what is widely viewed as terrible tax policy, but a welcome holiday gift nonetheless. The Tax Increase Prevention Act of 2014 extended a...more
The bylaws of many California nonprofit corporations refer to “ex officio” directors, typically by reference to the chief executive, the executive director, or sometimes a representative of another entity. The term “ex...more
Private foundations and public charities increasingly rely on the Internal Revenue Service’s on-line tool EO Select Check to verify tax exempt status. EO Select Check allows anyone with Internet access to search all exempt...more
The California Legislature recently passed AB 491, giving corporations, including nonprofits, flexibility to conduct ordinary business during an emergency such as a natural catastrophe, an enemy attack, an act of terrorism,...more
Many people combine their summer travel with charity work. Some travel expenses may be deductible against federal and state income taxes for those who itemize deductions. The IRS recently posted five tax tips for taxpayers...more