Kutchins, Robbins & Diamond, Ltd. Certified Public Accountants and Advisors

Archive for the ‘Non-Profit’ Category

Exclusion of Exempt Organization Employees from Retirement Plans

The IRS has finalized proposed regulations, with modifications, permitting the exclusion of employees of Code Sec. 501(c)(3) exempt organizations and governmental entities for purposes of testing whether a 401(k) or 401(m) retirement plan satisfies the minimum coverage requirements.

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Do Non-Profits Ever Pay Taxes?

When you think about a non-profit, the first thing that often comes to mind is that it is tax-exempt. Most non-profits are not subject to federal, state, and local income tax.

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Guidance on Tax-Free IRA Distributions to Charity

The Tax Code has several provisions encouraging individuals to make charitable contributions. One of these provisions allows individuals who are at least 70 1/2 by the end of the year to make a contribution of their taxable individual retirement account (IRA) distribution.

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