Buying a business can seem to be as straightforward as a verbal agreement between the owners and the buyer, but there are many risks that a buyer needs to be aware of. The old saying “buyer beware” applies to all buyers even if they have known the business and the owners for a longtime. While …
The Crucial Work Lawyers Do When You Buy a Business Read More »
Have you recently received a notice from Delaware requiring you to file a franchise tax? Is the tax amount listed a crazy high amount? Each year, many Delaware incorporated businesses are shocked to receive a franchise tax notice for an amount that seems outrageous for their business. Don’t panic! The below article will help answer …
Starting a new business is exciting, but it can quickly become an expensive undertaking, there are so many elements that need to be included and acknowledged in order to know how to be a successful startup company. Regardless of the type of entity you choose, there are steps and costs you need to plan for. …
Costs of a Start Up – Why a Flat Fee May Be Right For Your Startup Read More »
Rangeland Fire Protection Agencies (RFPAs) are likely not a type of nonprofit you have heard of before. RFPAs are nonprofit organizations composed of all-volunteer private citizens, typically ranchers and farmers, who respond to fires on private and state lands in remote landscapes where there is little to no existing support from federal, state, or local …
Starting a business is an exciting endeavor, whether its your first-time or a you’re a serial entrepreneur. But finding investors and acquiring capital for your startup can be challenging. In today’s highly competitive environment, an innovative idea is seldom enough to attract investors. Your business pitch, corporate documents, and investor proposals need to be done …
If someone were to ask you how life is going right now, that would probably be a loaded question. We’re in the middle of one of the worst pandemics in history, a combative election process to say the least, and a society seemingly more polarized than it’s ever been. And that’s only in addition to …
Introduction Organizations exempt from federal taxation must still pay taxes on unrelated business income (UBI) (i.e. income gained from a regularly conducted trade or business that is unrelated to the organizations exempt purpose). In 2017, Congress passed the Tax Cuts and Jobs Act (“TCJA”) which made major revisions to how unrelated business taxable income (UBTI) …
How the Tax Cuts and Jobs Acts Revises the Computation of UBTI: Three Major Revisions Read More »
Filing requirements for tax-exempt organizations can be a maze of bureaucracy. Though many tax-filing requirements can be similar for the different types of tax-exempt organizations, there are key distinctions 501(c) organizations should be aware of. First, it is essential to understand what “nonprofit” means. Thought the phrase gives many the belief that nonprofit organizations do not …
A Brief Overview of Tax Obligations and Filing Requirements of Nonprofit Organizations Read More »
Of the many things Covid-19 can be said to have forced us to change in our daily lives, how and where we work is one of them. For employers, the ongoing pandemic has seen an increase in leveraging remote employees. Overview An increasing number of employees are work from home, and sometimes that home is …
The Relationship Test In our last blog post we discussed Supporting Organizations and the first three tests for how to determine if a 501(c)(3) public charity is a supporting organization. In the second part of this two part series, we’ll discuss the fourth and final test of supporting organizations: the Relationship Test. Depending on the …