Ernest L. Tomkiewicz CPA PLLC

Navigating Tax Services for Non-Profit Veterans Organizations: Expert Services

We offer tailored tax services for non-profit veterans’ organizations. As a non-profit dedicated to supporting those who have served our country, your organization plays a vital role in making a positive impact on the lives of veterans and their families. However, understanding and managing tax obligations is crucial for maintaining your non-profit status and ensuring the longevity of your mission, be it veteran’s education or mental health aid. Let’s explore key aspects of tax services for non-profit veteran’s organizations, providing valuable insights and practical tips to help you navigate the complexities of the tax landscape. You can find our Ultimate Guide to Tax Filing for Non-profits here.

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Why Choose Us for CPA Services?

The following three ideals make up ELT CPA’s company mission and they are how we stay ahead of the competition. Our mission as a CPA firm is “Putting YOUR needs first”.

Specialized Expertise: Our team comprises seasoned tax professionals with specialized expertise in Non-profit taxation. We stay abreast of the latest tax laws, regulations, and industry trends to ensure that your business receives the most accurate and up-to-date advice.

We recognize that each Non-profit is unique, with its own set of challenges and opportunities. Our approach is to work closely with you to understand your business structure, financial goals, and industry dynamics. This enables us to craft customized tax strategies that align with your corporate objectives.

From tax planning and compliance to strategic advisory services, Our Tax Solutions offer a full suite of Non-profit tax services. Whether you’re a startup or an established enterprise, our services are designed to scale with your business.

Understanding Non-Profit Status

The foundation of any non-profit organization, including those dedicated to veterans, lies in obtaining and maintaining tax-exempt status. This section will delve into the eligibility criteria and application process for tax-exempt status under section 501(c)(3) of the Internal Revenue Code. We’ll also discuss the ongoing responsibilities and reporting requirements to retain this coveted status.

Tax Deductions and Credits

Armed forces charities often rely on donations and grants to fund their programs and initiatives. Understanding the tax implications for both donors and the organization is essential. Explore the various tax deductions available to individuals and businesses that contribute to your cause, and learn how to issue proper documentation for their tax records. Additionally, this section will highlight any tax credits or incentives that may apply to your organization, helping you maximize financial support while adhering to regulatory guidelines.

Unraveling Unrelated Business Income Tax (UBIT)

While non-profits are generally exempt from federal income tax, certain activities may trigger the Unrelated Business Income Tax (UBIT). This section will provide clarity on what constitutes unrelated business income, how to calculate UBIT, and strategies to minimize tax liability. By understanding UBIT regulations, your organization can confidently engage in revenue-generating activities without jeopardizing its tax-exempt status. This can affect sectors like housing assistance to veterans, resale shops, and other organizations

Record-Keeping and Documentation

Maintaining accurate and organized financial records is a fundamental aspect of tax compliance for non-profits. Learn about best practices for record-keeping, including the documentation required to support your organization’s financial transactions. We’ll discuss the importance of transparency and accountability, as well as how robust record-keeping can facilitate the annual reporting process and safeguard your organization during audits. Record keeping is especially important if you have more than two functions, like a veteran’s transition support and military family assistance. Making sure programs are accounted for is key.

Tax-Filing Deadlines and Reporting

Non-profit organizations must adhere to specific filing deadlines and reporting requirements to remain in good standing with the IRS. This section will outline the key dates for filing Form 990, the annual information return for tax-exempt organizations, and provide a step-by-step guide to completing this crucial document. Understanding the reporting obligations ensures your organization stays compliant and avoids potential penalties.

Navigating the tax landscape for non-profit veteran’s organizations requires a combination of knowledge, diligence, and strategic planning. By understanding the intricacies of tax-exempt status, deductions, UBIT, record-keeping, and reporting, your organization can operate with confidence, ensuring that resources are allocated efficiently to fulfill its mission of supporting veterans. Remember, staying informed and proactive in managing tax matters is key to the long-term success and sustainability of your non-profit. If you have specific questions or need personalized guidance, consider consulting with a tax professional experienced in non-profit tax services. Together, we can continue to make a positive impact on the lives of those who have served our nation. Contact us for more help.

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Ernest L. Tomkiewicz, CPA

Founder & Certified Public Accountant

Education & Licensure

MS in Accounting, Saint Joseph’s College of Maine

CPA Licensure in New Hampshire and Massachusetts, and able to service client around the United States due to CPA reciprocity

Professional Affiliations

The American Institute of Certified Public Accountants

The Association of Certified Fraud Examiners

Massachusetts Board of Public Accountancy

New Hampshire Certified Public Accountants

Our Services

All our services are offered in-person or remotely to meet your unique needs and preferences

We handle the intricate process of C Corporation tax return preparation. Our meticulous approach ensures accuracy and adherence to all regulatory requirements, giving you peace of mind and avoiding potential penalties.

Dealing with the IRS can be daunting. We offer audit protection through Protection Plus Audit Defense. Their team will represent your partnership in all dealings with tax authorities, helping you navigate audits and inquiries with confidence.

Beyond compliance, we offer strategic advisory services to help your C Corporation navigate financial decisions, mergers, acquisitions, and other critical business transactions. Our goal is to position your company for long-term success.