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UBIT and Other Income with Elaine Sommerville

Description

The church may be ”tax exempt” in many areas, but today’s creative ideas often lead to potential tax consequence on both a federal level and a state level. This session reviews several common areas of activities that can generate unrelated business income tax for the church unless special care and planning is achieved.

Learning Outcomes

  1. The participate will learn what UBI (Unrelated Business Income) is and how it affects his/her church.
  2. The participant will learn methods to evaluate if his/her church is doing what it needs to be doing with regard to UBIT.
  3. The participant will realize the importance of compliance with local, state and federal laws governing the sale of items, rentals, operation of bookstores, coffee shops and other unrelated business income.
  4. The participant will be able to explain and give examples of the importance of understanding UBI, how it is applicable to his/her church and convey that importance to the leadership of his/her church.

Learning Suggestions

Printing the associated documents prior to listening to recording will enhance your experience. The "questions for understanding" will be helpful to have in front of you as you review the seminar material. Taking notes while listening to the presentation will enhance your learning experience.

CEU Information

This presentation qualifies for 0.2 CEU credit toward CCA certification and retention. Please  refer to certification guidelines to insure you are in proper compliance for credit. After completing the course you will be offered a CEU request form to complete and make your request.

CPE credit is not available for e-lab programs.