A quarterly newsletter by Warren Averett, LLC                                                       Fall 2013
Welcome
  

Welcome to Warren Averett's 3rd Edition of "Insights for Nonprofits". In this issue, we explore the tax consequences of alternative investments as well as the importance of developing a good working relationship with auditors as an "independent third party."  In addition, we explain how to navigate U.S. immigration and labor regulations when hiring foreign nationals. Enjoy!

  
 
Tammy McGaughy
Nonprofit Practice Group Leader
Member, Warren Averett
Know the Tax Consequences of Alternative Investments Before You Leap

Alternative investments are funds that are held in a foreign or U.S. complex investment structure, such as a Limited Partnership, Limited Liability Corporation or S Corporation. These investments are considered "alternative" investments compared to traditional investments such as marketable securities, bonds and cash. If your nonprofit organization is considering alternative investments, read this list of tax considerations first.

 

Read more...

Balancing Client Service and Auditor Independence 

No matter what the incentive, the fundamental purpose of an external audit is to add credibility, by an independent third party, that the financial statements fairly represent the organization's financial position and activities for a period of time. How do you select an auditor who will provide the right balance of excellent client service and third party independence?

 

Follow these guidelines...
Increasing Your Tax Awareness When Hiring Foreign Nationals: Part 1 
Despite tightened regulations, nonprofit organizations may benefit from the hiring of foreign nationals, particularly students. If you have worldwide operations, hiring international students is  a great way to bring in people from countries where you are trying to grow.

 

To determine if hiring foreign nationals is a good fit for your organization, read more...  

Warren Averett, LLC

As one of the Southeast's largest accounting firms, Warren Averett knows that nonprofit organizations face operational, accounting and tax issues that are as unique as their individual missions. With over 800 professionals and a network of offices throughout Alabama, Florida and Georgia, Warren Averett has the resources to serve the unique needs of your organization.

 

Our Firm has an established Nonprofit  Practice Group made up of experienced Members and Managers. Warren Averett's committed team offers the hands-on experience and technical skills to serve the distinct needs of our nonprofit clients. Warren Averett has the ability to look beyond the numbers and help you plan for your organization's future.   

 

Warren Averett is dedicated to providing nonprofit organizations valuable recommendations relating to all aspects of the industry, allowing you to breathe easily and focus more time and energy toward delivering on your promise to the community.

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To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.


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