Not-for-Profit Organizations: Tax Receipts for Donations 2024

Monday, December 02, 2024

Webcast or Webinar, Online

12:00PM - 1:00 PM (opens at 11:30AM) EST

1Credits

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$49.00 Regular Price

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$59.00 Regular Price

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Course Type: Webcast

Course Code: 24/9125278

Level: Basic

Vendor: California CPA Education Foundation

Field of Study: Taxes

Overview:

Nonprofit organizations need to provide their donors with tax receipt letters (written acknowledgment) to comply with IRS rules and help donors get their tax deductions. Preparing tax letters is a deceptively simple task with many tricky points. In this webinar, we'll talk about the elements that should go into each type of tax letter, the mechanics of quid pro quo contributions, how to determine donor benefits, and how donor-advised funds fit in. This training will be valuable for nonprofit staff and tax professionals to know what to expect from their clients' tax receipt letters.

Objectives:

• Identify the elements of a donation tax receipt (written acknowledgement) • Determine the value of donor benefit • Recognize pure donations vs. quid pro quo contributions

Major Topics:

• Tax compliance • Donor relations

Major Topics:

• Tax compliance • Donor relations

Designed For:

CPAs and accounting professionals working in the not-for-profit industry.

Prerequisites:

None