30% Off on Unlimited Access, Unlimited courses and credits for just $199. Hurry! (offer expires on May 17th) Click here to start.

How to Form, and Obtain Exemption for a Non-Profit Entity

  • ACCT/BK
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Prep.
  • CFIRS
  • CWS

Published: May, 2021

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Information Issues: Myths and Resources
    1 mins
  • Formation Issues Types of Nonprofit Corporations
    6 mins
  • Securing Tax Exemption
    16 mins
  • Prohibition on Private Insurement
    31 mins
  • How to Lose Exemption
    47 mins

Course Description

This webinar reviews issues to be considered when forming a non-profit entity, including advantages and disadvantages of becoming a tax-exempt non-profit corporation, structural considerations, legal formalities and provisions of articles of incorporation and bylaws. It also includes explores available tax exemptions, the criteria for 501(c)(3) organizations and prohibitions on private inurement and private benefit.  This presentation walks through the federal exemption application (Form 1023) and the streamlined application (Form 1023-EZ).  Finally, it introduces applications for exemption to state taxing authorities and reinstatement of tax-exempt status.

This Online CPE Webinar will discuss how to form, and obtain exemption for a non-profit entity

Key Topics:

  • Formation Issues
  • Process of Obtaining Recognition of Tax Exemption
  • Other Exemption Matters


Click to access more webinars on Free CPE Webinars | SHRM & HRCI Courses | Excel CPE webinars

Learning Objectives

  • To identify advantages and disadvantages of a separate non-profit
  • To make practical suggestions regarding legal formation documents
  • To determine available tax exemptions
  • To recognize the difference between public charities and private foundations
  • To identify criteria for 501(c)(3) organizations
  • To identify the parts of Form 1023 and information required to be disclosed

Recommended For

This Online Continuing Education Tax webinar is recommended for CPAs, EAs, Tax Preparers, and Other Professionals who wants to support their Non-Profit clients in formation and obtain exemption

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Accounting Managers
    • Bookkeepers & Accountants & Tax Preparers
    • Cloud Accountants
    • CPA (Industry)
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • CPA in Business
    • Entrepreneurial CPA
    • Forensic Accountant
    • Senior Accountant
    • Staff of Accounting Firm
    • Tax Accountant (Industry)
    • Tax Attorney
    • Tax Director (Industry)
    • Tax Firm
    • Tax Managers
    • Tax Practitioners
    • Tax Preparer
    • Tax Professionals
    • Tax Pros
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 1 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00509-21-)
    • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
    • 1 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0507)
    • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
    • 1 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00509-21-)
    • 1 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00509-21-)
    • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 1 CE Credit for Certified Wealth Strategist (CWS)
    • 1 General Credit for Accountant/Bookkeeper (ACCT./BK)

    Additional details

    • Course Level :
      Basic
    • Credits :
      1
    • Instructional Method :
      QAS Self Study
    • Pre-requisites :
      None
    • Advance Preparation :
      None

    IRS APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

    NASBA APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

    CTEC APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

    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.
    • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
    • 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.
    • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
    • 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

    4.3

    10 Ratings

    Excellent

    4

    Very Good

    5

    Average

    1

    Poor

    0

    Terrible

    0

    JK

    James Koon, EA

    Jan 31st, 2022

    Very informative but I would suggest rerecording to get rid of the case of the "uhs".

    AM

    Allison Mcgaha, CPA (US)

    Dec 15th, 2021

    You need to look at the 3rd review question, which is totally incorrect. I think it should ask, "which of these are NOT asked by form 1023?" The way it's worded now is completely inaccurate.

    We use cookies to improve your experience on our website. Cookies store information about how a user interacts with Website. By clicking "Accept Cookies", you agree that MY-CPE LLC can store cookies on your device. All your data is anonymised and cannot be used to identify you.