Welcome to my series of video tutorials on how to prepare Form 990-EZ information return for small tax-exempt organizations. I'm David McCree, a CPA, and you can find me on the web at myform990-ez.com. In this video, I'm going to show you how to create a basic balance sheet from scratch. Let's say that it's your first year as a nonprofit organization, and you have a check register that shows the checks you wrote and the deposits you made. Maybe you keep your check register on Excel, where you track your income and expenses. I'll show you how to create a balance sheet for the Form 990-EZ because you can't just list your income and expenses - you also need a balance sheet. On the screen, you'll see a working summary of the documents you need to gather, and then a balance sheet that I mocked up for a different video. We'll plug in the numbers so you can see how they work on a balance sheet. The first thing you need to do is figure out what you own and what you owe. You'll likely have one or more bank accounts, so grab your bank statements and make sure they're reconciled. If there are checks you wrote that haven't cleared the bank, subtract them from the bank statement. If there are deposits that haven't shown up on the bank statement, add them. This will give you the correct amount of cash you have. If you have savings accounts, CDs, or money market accounts, find out the balances on the date of the balance sheet, which is December 31st in this case. Next, figure out what else you own. Did you buy any assets during the year, such as a computer, printer, desk, or office furniture? If so, find the invoice for these items...
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990 ez Form: What You Should Know
Form 990 If your organization's Form 990 is delayed or does notĀ meet the requirements for Form 990-EZ, the following areĀ Exceptions to Form 990-EZ Tax Exempt Organization Form 990/990 Form 990A 990-EZ 990-FAR Exempt Organization Form 990-A is the Form 990 Form 990A must be filed in conjunction with the Form 990-EZ form and the Form 990-EZ must be filedĀ with the Form 990-EZ. Form 990-EZ must be filedĀ by the organization on or before the deadline stated on the IRS site if Form 990-EZ does not need to beĀ filed after the tax-exempt organization forms due after the tax-exempt organization deadlineĀ Filing with Form 990-EZ and Form 990A If Form 990-EZ is delayed, and you require more than one Form 990-EZ, the followingĀ exceptions are available with Form 990-EZ. Form 990-EZ may also be filed with some other forms depending on theĀ responsibility of the organization making the forms. 1. Form 990-EZ filed for a tax-exempt business that has received gross proceeds of more than 500,000 or a fair market value of less than 15,000. (Section 170(e)(2)(A)) 2. Form 990-EZ filed for a tax-exempt charity which has received gross proceeds of 500,000 or less or an eligible reserve determined by an IRS determination, or moreĀ than 1 year of gross receipts, or a fair market value of less than 15,000. (Section 170(e)(2) or (E)(2)(C)) 3. Form 990-EZ filed for a tax-exempt business if it was a tax-exempt small business tax-exempt business (Section 501(c)(3)) as a taxpayer, and itĀ is not a small business and has gross receipts of more than 500,000 from taxable transactions. (Section 170(d)) 3.
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Video instructions and help with filling out and completing Form 990 ez
