Claiming Your Parent as a Dependent
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks.
Lumsden McCormick is committed to serving the arts and culture organizations that help enrich our Western New York region. Our nonprofit team has served hundreds of nonprofit organizations over the years, including arts and cultural organizations. You can count on us to focus on meeting compliance requirements, minimizing unrelated business income, mitigating risk, and maintaining all Uniform Guidance standards. You’ll find our nonprofit team of certified public accountants accessible and focused on your operations and financial goals.
Our services to arts and cultural nonprofits include:
For more information about our accounting and consulting services for nonprofit organizations, contact Donna Gonser or complete the form below.
Understand what opportunities are available to help your business grow such as 0% state corporate income tax. Ask Cory and Alan questions at the end of this informational webinar.Learn More