Solution for GASB Standard 84 Changes Set by KDE

The Kentucky Department of Education (KDE) released information regarding the newly effective GASB Standard 84. This governs most of the reporting for School Activity Funds, and districts should start implementing the change now for their fiscal year 2020 audit. To execute this change, Fund 25 and Org code segments will

Read More

Nonprofit Tax Exemption Applications Must Now Be E-filed

The desire to help others is one that is shared by most everyone regardless of occupation, income status and location. The transformation of the desire into a passion is when many take action and investigate how to start a nonprofit organization. There are several steps to take which include; identifying

Read More

Parking Tax Repealed and Private Foundations Tax Change

On December 20, 2019, President Donald Trump signed into law a tax package/funding bill which retroactively repeals the transportation fringe benefit tax that was enacted in the Tax Cuts and Jobs Act (TCJA).  The “Parking Tax” was an incredible burden on the tax-exempt sector and caused many organizations to pay

Read More