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Day: January 2, 2020

Nonprofit News Special Update: Parking Tax Repealed and Single Rate Excise Tax for Private Foundations

by Linda Curro The government funding legislation passed by Congress in December 2019 includes the repeal of the Internal Revenue Code § 512(a)(7), commonly referred to as the “Parking Tax.” The legislation was signed by the President on December 20th, 2019. The original provision, enacted as part of the 2017 Tax Cuts and Jobs Acts, required tax-exempt organizations to include in unrelated business income the amounts they pay or incur on qualified transportation fringe benefits. ...

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Employee Perspective: Stephanie Hughes on Financial Strategies for the Second Generation

by Stephanie Hughes All employees have financial concerns, but for those who are also parents, these concerns can be especially overwhelming. From childcare to higher education, financial worries can spill over into other areas of life, including work. While this type of stress can adversely affect the health and well-being of individuals and their families, it can also hinder employees’ happiness, engagement, and productivity at their jobs. Therefore, it’s in employers’ best interest...

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