The straight line

Category Archives: Credit Unions

Work Opportunity Tax Credit

The employer must hire designated community residents. A designated community resident is a new employee who is at least 18 and has not reached the age of 40, and who lives in a designated county. 30 counties in Iowa qualify and 35 counties in Nebraska qualify as a designated county - as well as many counties in surrounding states. Please note that it is the employee that must reside in a designated county. It is not relevant where the employer is located.

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UBIT… You Bet!

If your credit union generated more than $1,000 in unrelated business income, you will be required to file form 990-T and pay the appropriate tax.

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