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With the January 1, 2018, implementation of the Tax Cuts and Jobs Act, the landscape will change for many nonprofit organizations and their donors alike. Here are a few of the changes that have received the most attention:
The consequence of these and other changes will likely be increased tax obligations for many nonprofits, which, at the same time, may experience a reduction in income from donations.
The attorneys at Wright Beamer are privileged to represent a number of nonprofit clients and to sit on the boards of others. Now, more than ever, it is vitally important for all nonprofits, regardless of their size, to work closely with their attorneys and accountants to keep abreast of and in compliance with changes in the law. If you need help, call our office at (248) 477-6300.
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