Posts by Jennifer Eubanks
Local Business Owner Jennifer Eubanks Named to NSBA Leadership Council
Hendon, VA – Jennifer Eubanks, Eubanks Accounting & Advisory, Virginia was recently named to the National Small Business Association (NSBA) Leadership Council. NSBA is the nation’s oldest small-business advocacy organization, and operates on a staunchly nonpartisan basis. Eubanks, a recognized leader in the small-business community, joins the NSBA Leadership Council alongside other small-business advocates from…
Read MoreUnrelated Business Income Tax (UBIT)- Latest Update Nonprofits & Association
Summary of Keypoints The virtual workshop focuses on Unrelated Business Income Tax (UBIT) updates for nonprofits and associations, addressing how expanded revenue-generating activities may trigger unrelated business income (UBI). It highlights COVID-19’s financial impact on nonprofits, as declining membership dues and event revenue have led organizations to explore new income streams that may affect tax-exempt…
Read MoreJennifer Eubanks accepted into Forbes Finance Council
Forbes Finance Council is an Invitation-Only Community for Executives in Accounting, Financial Planning, Wealth and Asset Management, and Investment Firms Virginia, May 2021— Jennifer Eubanks, Principal at Eubanks Accounting & Advisory, a boutique, service orientated accounting firm, has been accepted into Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and…
Read MoreUnrelated Business Income Tax (UBIT)- Latest Update Nonprofits & Association
Summary of Keypoints The virtual workshop focuses on Unrelated Business Income Tax (UBIT) updates for nonprofits and associations, explaining how new or expanded revenue-generating activities may create unrelated business income (UBI). It addresses COVID-19’s financial impact on nonprofits, as declining membership dues and event revenue have pushed organizations to diversify income sources that may affect…
Read MoreCOVID-19 and Trade Associations: The Impact So Far
Summary of Keypoints COVID-19 has caused significant financial losses for trade associations, primarily due to cancellations of in-person conferences and events, which typically account for about 35% of annual association revenue. Membership dues revenue has also declined as member organizations reduce expenses, compounding the financial strain caused by event cancellations. Survey data from the American…
Read MoreTrade Associations, COVID-19 and the CARES Act
Summary of Keypoints Trade associations have been significantly impacted by COVID-19, despite limited public discussion, even as these organizations play a critical role in providing advocacy, information, training, and crisis support to their members. The CARES Act excluded trade and professional associations from Paycheck Protection Program (PPP) funding, leaving them with access only to the…
Read More2020 Year-end Charitable Giving Tax Incentives for Corporations
Summary of Keypoints The CARES Act temporarily expanded corporate charitable giving incentives for 2020, increasing the charitable deduction limit for C-corporations from 10% to 25% of taxable income and raising the limit for food inventory donations from 15% to 25%. Equity gifting remains a common year-end strategy for business owners, using the $15,000 annual gift…
Read More2020 Year-end Charitable Giving Tax Incentives for Individuals
Summary of Keypoints Individual charitable giving may yield greater tax benefits than corporate giving, since the top individual marginal tax rate (37%) exceeds the reduced corporate tax rate (21%) under the 2019 tax reform. The CARES Act introduced a new $300 above-the-line charitable deduction for 2020, allowing individuals who take the standard deduction to deduct…
Read MoreUnrelated Business Income – Latest Update Nonprofits and Associations
Summary of Keypoints The update titled “Unrelated Business Income – Latest Update Nonprofits and Associations” was presented on January 13, 2021, focusing on current developments affecting nonprofits and associations. The presentation was delivered by Jim Niblock, Senior Manager of Tax Services, and Jennifer Eubanks of Eubanks Accounting & Advisory, highlighting their expertise on unrelated business…
Read MoreTax Implications of the Cares Act
Summary of Keypoints The presentation titled “Tax Implications of the CARES Act” took place on December 29, 2020, focusing on tax-related provisions of the CARES Act. Jim Niblock, Senior Manager of Tax Services, and Jennifer Eubanks of Eubanks Accounting & Advisory served as presenters, providing professional insight into the topic. The session was designed as…
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