Tax Planning for Nonprofits in Southwest Florida

Aashir Abbas
Sep 16
1 min read

Nonprofit organizations play a vital role in Southwest Florida communities — but even tax-exempt entities must navigate complex IRS regulations. Failing to plan properly can risk your exemption status or limit your resources.

At MarkhamNorton in Fort Myers, we specialize in helping nonprofits stay compliant while maximizing funds for their mission.

1. Maintain Proper Records

The IRS requires clear documentation of income, donations, and expenses. Inaccurate records can raise red flags.

2. File the Right Forms

Form 990 is essential for most nonprofits. Filing late or incorrectly can jeopardize your tax-exempt status.

3. Track Unrelated Business Income (UBI)

If your nonprofit earns income outside its mission, it may be taxable. Careful tracking ensures compliance.

4. Manage Grants and Donations

Proper accounting ensures restricted funds are used correctly and reported accurately.

5. Seek Professional CPA Guidance

Working with a CPA experienced in nonprofit tax law protects your organization and strengthens donor confidence.

FAQ

Q: Do nonprofits pay taxes in Florida?A: Most nonprofits are federally tax-exempt, but unrelated business income may be taxable.

Q: Why file Form 990?A: It ensures compliance, provides transparency, and helps maintain your nonprofit status.

Support your mission with nonprofit tax planning from MarkhamNorton in Fort Myers.