||Experience preparing Form 990 and/or Form 990-PF.
| Who should attend
CPAs who work with exempt organizations and professionals working for exempt organizations who are responsible for filing Form 990 or are responsible for advising on new revenue generating endeavors.
The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.
The unrelated business income tax (UBIT) on income earned from both operating businesses and investment activities applies to all organizations exempt from tax under Internal Revenue Code Sec. 501(c), as well as public colleges and universities and qualified and nonqualified retirement plans.
Join us and learn about the tax; its application to particular types of organizations and entities; and modifications, exclusions, exceptions and deductible expenses. We'll also discuss the specific deduction and special rules for debt financed income, corporate sponsorships and periodicals, as well as receive tips for clients regarding structuring revenue generating activities with respect to both entity and relationship to mission.
We'll also dive into investment activities, which is increasingly resulting in more organizations having unrelated business taxable income for both federal and state purposes and additional filings related to foreign investments.
Formerly titled: Unrelated Business Income Tax
- Identify the history and applications of the unrelated business income tax (UBIT).
- Recognize the definition of unrelated business income and it's implications for both an organization's operating trades and businesses and investment activities.
- Determine exclusions, modifications and exception to unrelated business income.
- Identify debt financed income.
- Recognize the rules for deducting expenses in determining unrelated business taxable income, filing requirements and the implications of earning unrelated business income beyond potentially paying tax.
- Identify special rules for particular activities.
- Identify federal and state filing issues.
- Definition of unrelated business
- Unrelated business income tax: Origins, exclusions, modifications and exceptions
- Special rules
- Debt financed income issues
- Filing requirements
- State UBIT filings and other federal filings relating to foreign investments