Tax Preparation & Planning
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 Form 990 and its relations, which includes the following items.
1. TAX PREPARATION
- Organizing – Using our software link portal that makes it easy for you to deliver your documents on a timely and organized way.
- Accuracy – We will share tax documents through direct uploads, mobile pictures, or imports from your financial banker saving you time with incredible accuracy. Because data can be imported and directly uploaded on your tax manual error is at the minimum.
- Responsiveness – We manage our communication more efficiently using various features like mobile accessibility and automated notification. You will know when your tax is done instantly. You will get a notification to make an estimated tax payment.
- Peace of Mind – We will keep track of important client documents and data wisely.
2. COMPLIANCE GUIDE
- Exempt Status – We will identify for you the compliance requirements and record-keeping, reporting, and disclosure for exempt organizations.
- Charities and Private Foundation– We will help you to avoid some common mistakes or common non-compliance in the non-for-profit organizational industry.
- Exempt Status – Is your exempt status revoked and don’t know what to do? We will help you to re-instate your status.
- Application for Recognition of Exemption– We will work for you to complete the complicated Federal and State forms…
- Compliance Check – This procedure is about accountability. We can represent you before the IRS and FTB to address the specific items requested.
- Field Audit and/or Correspondent Audit – We can represent you before the IRS, FTB We will work on your behalf tirelessly.
ONLINE OR SITE ACCOUNTING AND BOOKKEEPING
- Monthly Financial Statement
- Maintain General Ledger based on different cost or using the fund
- Monthly Clothing
- Budget Preparation
- Maintain Accounts Payable and Receivable.
- Bank Reconciliation.
- Develop Accounting Policies and Procedures.
- Prepare Year End Tax Forms From 1099.
- Prepare Financial Records For Annual Audit.
- Prepare Records For Funding Agencies Audit.
Audit Assurance Services:
- Financial Statement Audit
- Financial Statement Audit in Accordance with Government Auditing Standards and OMB Uniform Guidance Audit.
- Financial Statement Review
- Agreed-upon procedures.
- Program-specific Audit
- OMB Uniform Guidance Audit
- Audit of HUD Programs
If you’re starting a new non-profit organization we can help you prepare your organization’s 501(c) three applications for tax-exempt status.
Here’s List Of Needed.
- Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 (“Organizational Test”).
- Employer Identification Number
- By-laws of the Organization
- Minutes of Board Meetings
- Names, Addresses, and Resumes of Board Members
- Names and addresses of all Active Members
- Inventory of Assets like cash, furniture, equipment, property, pledges.
- Inventory of Liabilities like mortgages, accounts payable, loans, etc.
- Rent/Lease Agreements and Contracts
- Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years.
- Written Reason for Formation and History of the organization.
- Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
- Organization Activities, Operations, and Programs Documentationincluding your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets…
- Financial Support Documentation including all sources of revenue like contributions, titles, offerings, fundraisers…
- Fund Raising Program Descriptions
- IRS Processing/Filing Fee
We are happy to prepare any of these items if you need help.
Let us help you setup and/or maintain your non-profit tax-exempt status by requesting a consultation below.