Learn about the unrelated business income tax (UBIT) and related issues. Examine changes made by The Tax Cuts and Jobs Act, including guidance issued to date, including guidance on the ability to offset UBIT loss activities against those generating positive unrelated business taxable income and changes to net operating loss rules. We will, also, discuss special rules and their application to particular types of organizations and entities.
The UBIT on income earned from both operating businesses and investment activities applies to all organizations exempt from tax under Internal Revenue Code Sec. 501(c), as well as public colleges and universities and qualified and nonqualified retirement plans. Learn about the tax and related issues,
Also, examine modifications, exclusions, exceptions and deductible expenses. Further, discuss the specific deduction and special rules for debt financed income, corporate sponsorships and periodicals as well as receive tips for clients’ regarding the structuring of new revenue generating activities. Dive into alternative investment activities, which increasingly result in more organizations having unrelated business taxable income for both federal and state purposes as well as additional filings related to foreign investments.
Finally, what would 2019 course on UBIT be without a discussion of Qualified Transportation Fringe benefits which due to the Tax Cuts and Jobs Act may result in organizations with little or no prior exposure to UBIT becoming taxpayers.
Formerly titled: Unrelated Business Income Tax
PICPA Member: $99
Nonmember: $124
Course No. 4192992C
Level: Advanced
Prerequisites: Experience preparing Form 990 and/or Form 990-PF.