Unrelated Business Income and Form 990-T
Instructor:
Tracy Paglia
Product ID: 705598
- Duration: 60 Min
Why Should You Attend:
Gain an understanding of when income tax applies for nonprofit organizations with Unrelated Business Income.
Nonprofits are generally exempt from income tax when they’re operating within their tax exempt purpose. When revenue isn’t closely tied to related activities, the unrelated business income (UBI) rules can apply and income tax may be due. Nonprofit organizations often generate UBI (knowingly or unknowingly) that provide vital support for mission activities.
Areas Covered in the Webinar:
- The three factors required for an activity to be considered unrelated
- Important exceptions to and exclusions from UBI treatment
- What can an organization do to avoid UBI treatment through planning and structure
- Common sources of UBI
- Reporting requirements when there is UBI
- Expense allocation options to reduce taxable income
- State tax implications
- The effect UBI can have on the organization’s exempt status
Who Will Benefit:
Staff or seniors in public practice who are new to nonprofit issues and will be involved with nonprofit clients and preparing returns.
- Controllers
- Accounting or Finance Managers
- Senior managers
- Directors
- Partners
Tracy Paglia, CPA
Tax partner, Moss Adams LLP
Tracy Paglia, CPA, is a tax partner with Moss Adams LLP. She has over 21 years of public accounting experience identifying and meeting the tax and consulting needs of Not-for-Profit and exempt Healthcare clients, their for-profit affiliates and donors. Her expertise includes areas such as attaining, maintaining and termination of tax exempt status, planning for and reporting unrelated business income, preparing and analyzing the Form 990, state registration and filing requirements, intermediate sanctions, compensation issues, forming and operation in joint ventures and for-profit subsidiaries, and charitable planning options for donors.
Tracy is a highly-rated national speaker on tax exempt issues. Her teaching and speaking experience includes sessions for the National Association of College and University Business Officers, the American Institute of CPAs, Council on Foundations, LeadingAge and American Society of Association Executives.
Tracy is based in Stockton, California and is an associate member of the AICPA's Technical Resource Panel. Tracy has a bachelor degree in accounting from the University of Idaho, is a member of the American Institute of CPAs and the California State CPA Society, and holds CPA licenses in Oregon and California.
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