| Call Now Open 24 Hours 877-285-0958 |
incsmart.biz
| Disclaimer: Please note that IncSmart is not a law firm or an accounting firm. If you seek legal or tax advice, we recommend that you hire an attorney or a CPA. |
Home | Contact Us | Careers | About Us © 2005 IncSmart Company. All rights reserved. |
IncSmart
Newsletter
Newsletter
Tax Time
How to find an Accountant
How to find an Accountant
- Ask yourself why you need an accountant.
- If having your taxes done quickly is most important, you should go to H&R Block or
another retail tax company. They are specially trained to get your taxes done
quickly. - If creating a tax plan for your future is most important, you should seek out the
advice of a licensed tax professional, such as a Certified Public Accountant or an
Enrolled Agent. - If handling a complex tax situation is most important, you should find an accountant
who specializes in your problem. Special circumstances include living outside the
United States, day trading in the stock market, or owning a small business. - Call around to a couple of tax offices to ask about their prices and how quickly they
can schedule an appointment. - Ask what their price range is.
- Ask about any guarantees the accountant offers.
Form 990 for Nonprofit Organizations
Due May 15th
The deadline for nonprofit organizations to file
their Form 990 with the IRS for the year 2007 is
May 15th. If a church or charity needs additional
time to file, they can use Form 8868 to request
a 3-month extension, which will be
automatically granted by the IRS once the form
is submitted.
Some nonprofits might be eligible to file a
shorter return, a 990-EZ. To qualify for this
shorter form, the nonprofit would need to have
under $100,000 in gross receipts and less than
$250,000 in total assets as of the end of the
year.
Even smaller nonprofits may not have to file
either the 990 or 990-EZ if their gross receipts
are normally less than $25,000 annually. Such
organizations are eligible to file an electronic
postcard, called 990-N, which will suffice to
meet their filing obligations.
One of the advantages to file these information
returns, is the return data shows up in publicly
searchable databases, such as the one found
at Guidestar.org. Information from the returns
such as how the organization used its funding,
and its own description of the programs and
services offered are searchable by grantmakers
and donors. This means a well written 990 has
potential to attract the attention of donors
searching for specific types of nonprofits.
Due May 15th
The deadline for nonprofit organizations to file
their Form 990 with the IRS for the year 2007 is
May 15th. If a church or charity needs additional
time to file, they can use Form 8868 to request
a 3-month extension, which will be
automatically granted by the IRS once the form
is submitted.
Some nonprofits might be eligible to file a
shorter return, a 990-EZ. To qualify for this
shorter form, the nonprofit would need to have
under $100,000 in gross receipts and less than
$250,000 in total assets as of the end of the
year.
Even smaller nonprofits may not have to file
either the 990 or 990-EZ if their gross receipts
are normally less than $25,000 annually. Such
organizations are eligible to file an electronic
postcard, called 990-N, which will suffice to
meet their filing obligations.
One of the advantages to file these information
returns, is the return data shows up in publicly
searchable databases, such as the one found
at Guidestar.org. Information from the returns
such as how the organization used its funding,
and its own description of the programs and
services offered are searchable by grantmakers
and donors. This means a well written 990 has
potential to attract the attention of donors
searching for specific types of nonprofits.
| Hot Buttered Rum |
This is one great, classic hot drink that is an
absolute delight around a winter campfire
with friends. You can also caramelize your
Hot Buttered Rum by building the ingredients
as stated in the recipe below and plunge a
red-hot* poker into the glass for about a
minute.
*Choose a clean, thick rod and let it sit in the
fire until it is red hot. Shake off any ashes and
be careful not to touch the rod to the bottom
of the glass or it will shatter. This is great for
camping and the same hot-poker method
can be used for caramelizing dark beers.
INGREDIENTS:
1 small slice soft butter
1 tsp brown sugar
optional spices: ground cinnamon, ground
nutmeg
vanilla extract
2 oz dark rum
boiling water
PREPARATION:
Place the butter, sugar and spices at the
bottom of an Irish coffee glass or mug.
Mix well or muddle.
Pour in the rum and boiling water.
Stir.
absolute delight around a winter campfire
with friends. You can also caramelize your
Hot Buttered Rum by building the ingredients
as stated in the recipe below and plunge a
red-hot* poker into the glass for about a
minute.
*Choose a clean, thick rod and let it sit in the
fire until it is red hot. Shake off any ashes and
be careful not to touch the rod to the bottom
of the glass or it will shatter. This is great for
camping and the same hot-poker method
can be used for caramelizing dark beers.
INGREDIENTS:
1 small slice soft butter
1 tsp brown sugar
optional spices: ground cinnamon, ground
nutmeg
vanilla extract
2 oz dark rum
boiling water
PREPARATION:
Place the butter, sugar and spices at the
bottom of an Irish coffee glass or mug.
Mix well or muddle.
Pour in the rum and boiling water.
Stir.
1st Quarter 2007
