Fundraising is the lifeblood of most nonprofits. It’s provides you with your revenue or funding to implement initiatives that advance the mission of your organization. There are an almost unlimited number of ways a non-profit organization can go about raising funds. And while many of them may have merits, it is critical for any organization […]
Is the IRS Targeting of Conservative Groups a Threat to the Nonprofit Sector? Michael Wyland believes so, and details why in the latest Nonprofit Quarterly. All individuals and groups should be treated equally under the law. In this case, that includes how their Form 1024 applications for tax-exempt recognition as 501(c)4 “social welfare” organizations are […]
Will Combined Federal Campaign donors be more eager if they believe 100% of their dollars go to charitable operations rather than OPM’s operating costs? In light of Ruth McCambridge’s newswire that participation and donations in the Combined Federal Campaign have been on the decline for the past three consecutive years, the news from President Obama’s […]
On January 1, 2013, Congress passed, and President Obama signed the next day, the American Taxpayer Relief Act. The new law includes some valuable business tax incentives. Many of these business tax incentives are temporary so taxpayers have a limited window in which to maximize their potential tax savings. Tax rates Depending on how a […]
Although Congress averted many of the consequences of a possible tumble over the fiscal cliff with last-minute action, we would like you to be aware of the impact of the bill that was passed — known as the American Taxpayer Relief Act of 2012 — signed into law Jan. 2. We have compiled an overview […]
The Health Care and Education Reconciliation Act of 2010 (the Health Care Act) imposes a new 3.8% Medicare tax on investment income for individuals, trusts and estates. This new surtax is scheduled to begin in 2013. We have provided below a summary of the impact to individuals, trusts and estates. In addition, we have provided […]
A recent and very harsh Tax Court ruling has placed even more emphasis on charitable organizations to adhere to the IRS regulations regarding contributions and the acknowledgement letters provided for those contributions. Recently, the Tax Court disallowed a taxpayer’s substantial charitable contribution deduction because the charitable organization failed to provide a properly completed contemporaneous written […]
Our offices will be closed at noon every Friday from June 21 through August 16. Our office will reopen on Monday at 8:30 a.m. Enjoy your weekend.
It’s summer time and we want our firm members to have the opportunity to take advantage of the warm weather. Our offices will be closing at noon eve…
Squire, Lemkin + Company, LLP is a Rockville, MD accounting firm providing audit, tax, accounting and not-for-profit consulting services to companies across the East Coast. Our firm has expertise in not-for-profit Organizations, Entrepreneurial Businesses, Professional Service Firms, High Net Worth Individuals, Estates and Trusts, Employee Benefit Plans and Individual Tax Returns.
We serve clients from our office Rockville, MD. We serve the Maryland, Virginia and Washington, D.C. metropolitan area.