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Maintaining Tax Exemption for a Non-Profit Entity

  • AFSP
  • CPA (US)
  • EA
  • ORTP
  • CRTP
  • Maryland Tax Prep.

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

This online continuing education course reviews issues to be considered to maintain tax-exemption for a non-profit entity, including changes in its activities and support, the intermediate sanction rules for public charities and rules specific to private foundations, disclosure and substantiation requirements, common mistakes in annual reporting, private inurement, compensation planning and intermediate sanctions, triggers for compensation checks on executive compensation, California exemption, causes for loss of exemption and restoring it after loss; ongoing state compliance with other state agencies including the Attorney General and Secretary of State.

This Online CPE Webinar will discuss the following key topics:

1.   Changes in Activity, Disclosure and Substantiation

  • Public charity versus private foundation status
  • Disclosure requirements
  • Substantiation requirements
  • Lobbying and Political Campaigns

2.   Intermediate Sanctions and Compensation

  • Disqualified persons and deemed disqualified persons
  • Rebuttable presumption of Reasonableness, Comparability Data
  • Compensation Initiative and Employment Tax Audits
  • Compensation Planning

3.   California and Other State Matters

  • Securing state tax exemption
  • Suspended Exempt Entities and Consequences 
  • Revocation and reinstating the exemption
  • California Secretary of State and Attorney General

Learning Objectives

  • To identify disqualified persons
  • To discuss practical suggestions regarding disclosure requirements
  • To determine the substantiation requirements
  • To recognize common mistakes on annual tax returns
  • To identify deemed disqualified persons and appropriate compensation planning
  • To recognize the three elements for a rebuttable presumption of reasonableness
  • To identify what Form 990 reporting triggers IRS inquiries
  • To recognize causes for suspension for exempt entities in California and consequences

Recommended For

This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and Other Finance and Tax Professionals advising non profit entities on various tax and compliance matters.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • California Registered Tax Professional
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • Nonprofit Professionals
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-00562-21-O)
  • 2 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0540)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal Tax Related Matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00562-21-O)
  • 2 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00562-21-O)
  • 2 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00562-21-O)

Presenter

About Presenter

Louis Michelson

President Louis E Michelson, A Professional Corporation

Mr. Michelson received his B.A. Degree, with general honors from the University of Chicago, his M.S. in Accountancy from DePaul University and his J.D. degree from UCLA School of Law. He has been admitted to practice with the U.S. Tax Court and the United States District Court, Central District of California.

Mr. Michelson is Past Chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association. He has served as Chair of the Tax-Exempt Organizations Committee of the Taxation Section of the State Bar of California, as Co-Chair of the Nonprofit Organizations Committee of the Business Law Section of the State Bar of California and as Chair of the Taxation Section of the Los Angeles County Bar Association. In May 2001 he participated in the Los Angeles County/California State Bar delegation to the Internal Revenue Service, Treasury and staff of the Congressional tax committees in Washington D.C. to discuss proposed guidance, as set forth in a co-authored paper, “Getting Connected: Business and Politics of Charities on the Internet.”  Together with other attorneys, he assisted in reviewing and suggesting revisions to portions of the California Attorney General’s Guide to Charities. Mr. Michelson is a lecturer at UCLA Extension on tax issues for nonprofit organizations. He is also Adjunct Professor at David Nazarian College of Business and Economics California State University Northridge for a class on income taxation of trusts and estates. He has lectured for business and professional organizations and written articles on various federal and California tax topics. He is a member of the American, California, and Los Angeles County Bar Associations.

About Company

Louis E Michelson, A Professional Corporation

lemtax.com/

Louis E. Michelson focuses his practice on income tax planning, charitable giving and other federal, state and local taxation issues for individuals, corporations and tax-exempt organizations.

Mr. Michelson advises public charities, private foundations, religious and educational organizations, and other nonprofit organizations on issues of formation, management, joint ventures, planned giving and board governance. He also has extensive experience with income tax planning for business transactions and estate planning.


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

17 Ratings

Excellent

9

Very Good

6

Average

2

Poor

0

Terrible

0

SK

Sonia Keeling, CPA (US)

Jan 25th, 2022

I had some trouble understanding the instructor. I also think less time should have been spent discussing California non-profits rules and agencies.

Maintaining Tax Exemption for a Non-Profit Entity

$20

2 Credits

Subject Area

Taxes

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