Nonprofit Tax Return Preparation
in New Kensington and Lower Burrell, PA

Let Perriello Accounting & Tax Services Make Tax Time Less Taxing

For nonprofit tax return preparation in New Kensington, Lower Burrell, PA, call Perriello Accounting & Tax Services. Nonprofit organizations are not typically subject to tax on income derived from activity that is part of their exempt purpose. However, the IRS requires most nonprofits to file an annual information return that details their finances. It provides transparency for the organization’s activities.

While every nonprofit has similar reporting obligations, the needs of your particular organization are unique. You need a professional nonprofit tax services company to ensure that you are compliant with IRS regulations to preserve your tax-exempt status. Call Perriello Accounting & Tax Services, LLC at (724) 337-3527 to schedule a meeting to see how we can help you.

Compiling Form 990 and Providing a Transparent Financial Statement

Form 990 is the name of the annual information return for all nonprofit agencies. It provides donors with information about how their donations are being used and the group’s operations and fiscal status. It acts as a check on the agency’s nonprofit status and prevents abuse of the tax-exempt status.

Form 990 complicates taxes, especially for larger organizations. Professional tax planners can help. Not only is Form 990 required by law, but is also used as a marketing tool to attract new donors or encourage others to donate more. When grantors see exactly where dollars go, they may be more likely to contribute to a specific program.

Choose Perriello Accounting & Tax Service to Prepare Taxes

When you choose Perriello Accounting for your nonprofit tax preparation service, you will benefit from our in-depth knowledge of what the IRS requires. We prepare an income statement with specific expense and revenue categories, including salaries, rent, donations, even the postage you use. We will also compile a balance sheet broken down into specific categories such as accounts receivables, accounts payable, cash, and other expenditures.

You may also need a functional expense statement, which allocates your expenses to operations, fundraising, or program services. Plus, we can break down each program or service into an individual program expense statement for further transparency.

Awareness of IRS Requirements for Nonprofit Organizations

The IRS also requires revenue support schedules that list the agency’s sources of income in specific categories, such as charitable donations, investment income, and membership fees.

The IRS evaluates your tax-exempt status each year based on these reports. You need to build your accounting system and tax statements around these expense and revenue classifications to maintain that status.

Why Choose Us for Tax Preparation in New Kensington, Lower Burrell, PA?

Perriello Accounting provides professional tax services to clients across Pennsylvania. We are a local New Kensington tax service agency with years of experience navigating the complex tax codes that govern nonprofit organizations. Let our expertise work for you.

Nonprofit Tax Return Preparation in New Kensington and Lower Burrell, PA