Kutchins, Robbins & Diamond LTD.

Certified Public Accountants

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Donor Managed Charitable Giving

The IRS recently indicated that it would approve of charitable giving programs where the donor still manages the donated assets, subject to certain conditions and restrictions. As you have made...

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Filing Requirement for Small Tax-Exempts

Most small tax-exempt organization with gross receipts of $50,000 or less, may be required to file Form 990-N, "Electronic Notice (e-Postcard) for Tax-Exempt Organizations not Required To File Form...

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Private Foundations May Be the Right Choice for Your Family

Private foundations are an undervalued tool for both income and estate planning.  They are often bashed in the press for being cumbersome and expensive to operate but we disagree with this opinion.

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Exempt Organization Status and Excess Benefit Transactions

The IRS has issued final regulations concerning the exempt status of organizations that are tax-exempt under Code Sec. 501(c)(3) but engage in excess benefit transactions. As an exempt organization,...

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Excise Taxes on Private Foundations Lowered

As you know, private foundations are generally exempt from federal income taxes. However, in certain circumstances, excise taxes may be imposed on the specific income of a private foundation. In two...

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Form 990: Expanded Compensation Reporting

As a nonprofit organization, you are probably already aware of the heightened public scrutiny imposed upon such organizations due to reports of grossly excessive compensation received by nonprofit...

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