Introducing Tax-Exempt Organizations - What's the Purpose of it All
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
The three most important principles to remember about tax-exempt organizations are: Purpose, Purpose, and Purpose. An organization desiring to be exempt from regular income taxation must have a tax-exempt purpose that corresponds with those listed in the Internal Revenue Code; it must demonstrate its tax-exempt purpose in the operation of the organization, starting in year one, then continuing throughout its existence. The actions of the organizers, directors, and officers of the organization must be consistent with the overall purpose for which the organization received its exemption, as well. This introduction to tax-exempt organizations identifies circumstances under which an organization may and may not be granted exemption. It describes the process for requesting tax-exempt status, then it introduces basic concepts on which to build an organization that will be allowed to remain tax-exempt.
Prerequisites
None
Designed For
Accounting and financial professionals that have any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.
Objectives
- Identify organizations eligible for tax-exempt status
- Understand the steps necessary for applying for exemption
- Be aware of traps and pitfalls that can lead to penalties or loss of exempt status Identify issues involved in preparing Forms 1023, 1023-EZ, or 1024 and related schedules
Preparation
None
Leader(s):
Leader Bios
Ini Adesanya, Kaplan Financial Education
Dr. Inibehe (Ini) Adesanya, ACA, FCT, CPA ,CGMA, MST, Ph.D. is the President of INI ADESANYA CPA, PLLC and also owns Global Tax Lady LLC. Dr. Adesanya has worked in various countries with conglomerates and multinationals, including banks and the entertainment industry. She also worked in public accounting before starting her practice. With 20 years of combined experience in accounting, business, and taxation, Dr. Ini Adesanya’s expertise covers complex domestic and international tax issues for both individuals and businesses
Dr. Ini Adesanya works with clients as a subject matter expert (SME) on tax cases and tax issues where she justifies her clients’ tax position based on tax law, treasury regulations, revenue procedures, and other related regulatory publications.
Dr. Adesanya has developed and taught courses on business taxation, for which she has received awards. She has also written and presented papers at various forums, organizations, and radio stations focusing on business, accounting, and US and international tax issues. Dr. Adesanya is a Chartered Accountant (ACA), a Fellow Chartered Tax Practitioner (FCIT), and a Certified Public Accountant (CPA) licensed in the states of Colorado and Texas. She is also a Certified Global Management Accountant (CGMA). She holds a B.S. in Human Anatomy and a Professional Degree in Accounting from Nigeria, as well as a Master of Science in Taxation from Golden Gate University San Francisco CA. She received her Ph.D. in Business Administration with a concentration in accounting and finance at Trident at American Intercontinental University, Chandler AZ; her dissertation focus was in taxation.
Non-Member Price $119
Member Price $89