If you haven’t revisited your not-for-profit’s bylaws recently, they may not be as effective as they could be. Your bylaws should cover your nonprofit’s broad charitable purpose and provide procedures for resolving internal disputes, such as the removal and replacement of a board member. If you decide changes are needed, first check to see if you have the authority to make them. Most bylaws contain an amendment paragraph that outlines procedures for making revisions. And if your nonprofit is incorporated, any proposed bylaw changes must conform to your articles of incorporation. Contact us for more information.
Nonprofit trade associations, or 501(c)(6) organizations, exist to promote their members’ common interests and improve business conditions. But your association doesn’t qualify for tax-exempt...
Now that most schools are out for the summer, you might be sending your children to day camp. The good news: You might be...
Congress created the “kiddie tax” to discourage parents from putting investments in their children’s names to save tax. Over the years, it has gradually...