We are a nonprofit with a for-profit subsidiary. It's very difficult to get good tax advice for the for-profit side of the business, possible SBIR funding, and other issues. CPAs either know NPOs or they know FPOs--few know how the crossover affects issues such as the tax advantages of buying a building. -Sid Gardner, President, Children and Family Futures, Irvine, Calif.
Your concern about CPAs tending to specialize in either nonprofit or for-profit tax issues is valid. I'm afraid that I can't help you because I am no longer a practicing CPA. I suggest that you contact your local or state CPA society to see if they can help you find someone. For contact information for all state CPA societies, see this directory.
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We have a wholly owned for-profit subsidiary. It is ineligible for SBIR funding, because it is not majority owned by (American) natural persons. My guess is that this will be a problem for you as well.
»» Posted by: Jim Fruchterman on January 10, 2008 07:27 PM