Tax-exempt entity accounting and taxes are complex. Entity’s board members and managers face situations that seek insight, technical knowledge, personal skills, and regulatory expertise. You entity required experienced firm who can use their resources and knowledge to add insight to the various complex financial situations that may arise within a community. We as a firm has addressed this need in our services to tax-exempt entities. Our team focuses on providing accounting and tax services for tax-exempt entities of all sizes. We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you. Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.
Income Statement, Balance Sheet, Functional Expense Statement, Individual Program Expense Statement, Revenue Support Schedules. The IRS uses these very specific revenues and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
Starting new not-for-profit organization ?
What you need?
We are happy to prepare any of these items if you need help!