Private Foundation Issues and Form 990-PF
Duration : 60 Minutes
Tracy S. Paglia,
Tracy Paglia, CPA, is a tax partner with Moss Adams LLP. She has over 21 years of public accounting experience identifying and meeting the tax and consulting needs of Not-for-Profit and exempt Healthcare clients, their for-profit affiliates and donors. Her expertise includes areas such Read more
Private foundations have many complex rules and potential traps for those managers and preparers unaware of the rules. This session provides an overview of the Form 990-PF and basic information regarding excise taxes, potential penalties and their implications for the completion of Form 990-PF. Learn the differences between non-operating (grant making foundations) and operating foundations and planning suggestions for maximizing donor deductions. Receive an overview of the expenditure responsibility requirements for foreign grants and grants to domestic private foundations and the income distribution calculation.
Course Objectives:
• Recognize transactions where excise tax rules are applicable to private foundations
• Identify differences between grant making and private operating foundations
• Clarify how organizations qualify for the one-percent rate of the Section 4940 excise tax on investment income
• Determine the average fair market value calculation for cash and securities
• Recognize additional reporting requirements for foreign grant expenses and grants to other U.S. private foundations
Why Should You Attend:
This helpful webinar offers a practical examination of the latest federal tax developments, compliance issues, and planning opportunities to help private foundations navigate today's compliance challenges. This webinar will review of the Form 990-PF, discuss common transactions, pitfalls to watch for, and little understood reporting complexities.
Course Outline:
• Private foundation tax reporting and challenges to the Form 990-PF
• Purpose and layout of Form 990-PF
• Alternatives for proper reporting of contributions and sales of appreciated stock under various accounting methods
• Calculating the reduced excise tax rate on net investment income
• What is and is not a deductible net investment expense
• What does and does not count as a qualifying distribution
• Reporting direct charitable expenditures
• Grants to non-public charities and the additional reporting requirements
• Tips for Board review of the Form 990-PF
What You Get:
• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points
Who Will Benefit:
• Private foundation compliance officers
• CPAs
• Enrolled Agents
• Tax Return preparers
• Tax Attorneys
• Financial advisors who work with tax-exempt organizations
Please reach us at 1-888-844-8963 for any further assistance or if you wish to register
100% MONEY BACK GUARANTEED
Refund / Cancellation policyGet In Touch
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