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ExpressTaxExempt Blog

Tuesday, December 8, 2015

End of the Year Tips




The end of the year is just a mere three weeks away. And just like Santa checks his list twice, you should also double-check and make sure your exempt organization is well within regulation before the year is at an end. A new year means new beginnings and there’s nothing worse than attempting a fresh start with old baggage.

So what we have prepared are a few blogs that detail a number of tax responsibilities that should be accomplished around this time of year. Feel free to give each a read, make note to what’s already been done or what needs to be done, and have your exempt organization end the year on the nice list rather than naughty.

By Year’s End

The pressure is on to get everything in order before the new year, and time is quickly ticking away. You probably have even less time than most people, if you’re operating a nonprofit or charity organization. With this season geared towards gift-giving and donations, your load might be heavier than ever.

However, you can’t allow yourself to get lost in this seasonal wave of generosity. This blog offers seven tasks that experts agree should be completed by tax-exempt organizations before the year is over. From annual Board of Directors meetings to updating current solicitation registrations, and even thanking your donors with proper gift receipts, the information here will have your exempt organization ending the year as strong as possible.

End of Year Tax Tips For Nonprofit Organizations

If the title wasn’t self-explanatory enough, the information in this blog explains the annual renewal of an exempt organization’s Articles of Incorporation with the state. With organizations that solicit charitable contributions locally, you are required to register your nonprofit in that one state; however, if your contributions are solicited nationally, you need to register within each state’s jurisdiction.

It also goes into a little interest piece of information about how your nonprofit can make money from its intellectual properties without it being considered as unrelated business income.

Things To Know: Gift Acceptance Policy

Quite possibly one of the most important issues within nonprofits this time of year, this blog demonstrates the importance of having a gift acceptance policy in place. ‘Tis the season of abundant giving, but if the liquidation of a gift requires an inordinate amount time, or consumes way too much of your organization’s resources, then it may do more harm than good.

Above everything else, you definitely want to make sure that your exempt organization is compliant with the IRS tax filings. If your nonprofit operates on a fiscal tax year, and your tax deadline is in December, ExpressTaxExempt can help you e-file your tax return quickly and easily. We offer support for Form 990-N (e-Postcard), Form 990-EZ, and Form 990 (Long). And coming soon, you can use our amazing features to complete Form 1023 for tax-exempt recognition.
If you have any questions, or need any assistance with e-filing one of our available tax forms, don’t hesitate to contact our live support team in Rock Hill, South Carolina. Our office hours are Monday through Friday from 9 a.m. to 6 p.m. EST, and we can be reached at (704) 839-2321. We also offer 24/7 email support (support@expresstaxexempt.com), and you can live chat with us from the ExpressTaxExempt website.




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