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Sobel ubi

UBI, UBTI, AND UBIT - UNDERSTANDING THE UNRELATED BUSINESS INCOME TAX

CPE Processing Fee$20.00  Webinar TranscriptionN/A     Presentation Length Hour(s)2.0 hours  CPE2.0  Subject AreaTaxes  Course LevelBasic  Instructional MethodQAS Self-Study   PrerequisitesNone  Advance PreparationNone  Recorded DateJan 16, 2017  Date OfferedJan 16, 2017  Series: Taxes    
Course Description

Nonprofits have a fear. Nonprofits have a misunderstanding. Nonprofits need guidance.

In 1950 Congress created the unrelated business income tax (UBIT), because it did not want nonprofits to have advantages over taxable entities that conduct the same activities. The tax was used to penalize nonprofits for engaging in excessive unrelated business activities.

The law is confusing and is often misinterpreted by organizations and their tax professionals. Most organizations have unrelated business income (UBI), but not all of the UBI is considered unrelated business taxable income (UBTI). Many organizations that have UBTI will not have to pay unrelated business income tax (UBIT), because they have related deductions that offset the income.
Stu Sobel, the author of four books on taxation and nonprofit issues, has worked with thousands of nonprofit clients throughout the world. In this course he shares his wisdom to make this difficult area of tax law less threatening and confusing. He makes taxation less taxing.
The following topics are discussed in detail:
• What constitutes a trade or business
• Analysis of specific forms of UBI and UBTI
• Case studies regarding advertising revenue
• Statutory exclusions from UBTI
• Religious organizations and UBTI issues
• Unrelated debt finance income
• Preparation of Form 990-T – overview of the form by lines and schedules

Learning Objectives

  • Understand the differences between UBI, UBTI, and UBIT.

  • Effectively plan for activities and advise clients.

  • Determine recent tax law developments that impact on unrelated business taxable income.

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  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”

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CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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About Our Presenter

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The Tax Media Store is a Tax Media Marketplace featuring a large library of tax education videos and books from tax and nonprofit expert Stuart P. Sobel.