What not-for-profits need to know about UBIT / (Record no. 9917)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01476nam a22001937a 4500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20241028102322.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 241028b ph ||||| |||| 00| 0 eng d |
| 022 ## - INTERNATIONAL STANDARD SERIAL NUMBER | |
| International Standard Serial Number | 0021-8448 |
| 040 ## - CATALOGING SOURCE | |
| Transcribing agency | OCT |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Dennis, Anita |
| 240 ## - UNIFORM TITLE | |
| Uniform title | Journal of Accountancy / |
| Medium | August 2024 |
| 245 ## - TITLE STATEMENT | |
| Title | What not-for-profits need to know about UBIT / |
| Statement of responsibility, etc. | Anita Dennis |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Place of publication, distribution, etc. | Durham, NC : |
| Name of publisher, distributor, etc. | AICPA & CIMA , |
| Date of publication, distribution, etc. | 2024 - |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | Vol 238 (2) Pages 30-35 : |
| Other physical details | illustrations ; |
| Dimensions | 28 cm |
| 500 ## - GENERAL NOTE | |
| General note | Many not-for-profit organizations dread the unrelated business income tax (UBIT) because it can be a challenge to sort out when a not-for-profit's activities are subject to the tax and when they are not. However, it's important that organizations that qualify as tax-exempt get their arms around UBIT's uncertainties. More than 80,000 exempt organizations filed a 2017 Form 990-T, Exempt Organization Business Income Tax Return, reporting $15.4 billion in taxable income and $871.4 million in tax, according to the most recent IRS statistics. And while more than half of those organizations did not have unrelated business taxable income (UBTI) after subtracting deductions from gross unrelated business income (UBI) and thus did not have a UBIT liability, it is not unusual for Sec. 501 (c) tax-exempte organizations, especially charities, to have a UBIT liability, which can sometimes be an unexpected major expense. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Not-for-profits |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Tax |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Continuing Resources |
| Suppress in OPAC | No |
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