Unrelated Business Income and Form 990-T

Live Webinar or Recording

January 7, 2025, 2:00 pm - 3:40 pm Eastern

Credit: ATATX: 1.5, CPE: 2 (Live Only)

Even though an organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. The rules can be challenging, so an organization must know when unrelated business income applies, important exceptions and exclusions to minimize or avoid the tax, and how the tax is calculated.

This session will focus on the standards and guidelines for determining whether income is UBI, explore the complicated silo rules, and walk through the calculations and preparation of Form 990-T, Exempt Organization Business Income Tax Return.

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• Identify what qualifies as UBI for a §501(c)(3) exempt organization
  
• Use the exceptions and exclusions to correctly report UBI
  
• Be aware of expenses available to offset UBI
  
• Appropriately prepare Form 990-T to calculate and report UBIT, including reporting separate trades or businesses on Schedule A.
  

Guest Speaker: Tracy Paglia - Inspiring Movement Inc.

Level: Basic

Format: Live Webcast

Field of Study: Taxes

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.

Aurora Training Advantage is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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Event Venue

Online