Greg Rogers in Accounting Today
Earlier this week, nonprofit principal Greg Rogers was quoted in the Accounting Today article, “New help for private foundations.” On February 9th, The Bipartisan Budget Act of 2018 was signed into law. An exception was created by the budget act which eliminates the tax on those private foundations with excess business holdings as long as certain criteria are met.
Rogers said, “It [the provision] resurfaced in the budget act and was signed into law. Athough it was specifically tailored to one foundation – Newman’s Own Foundation – it opens up the opportunity for other private foundations to fully own a for-profit business as well.”
Read the entire article here.