Tax & Business
Barbara Hasselman is a director in the Tax-Exempt Advisory Services Group in the New York City office. She has extensive experience with tax exempt organizations, with a particular expertise in high net worth, trust and estates, and foundations.
Her experience includes tax planning from a nonprofit organization’s inception to developing tax strategies and compliance for existing nonprofits such as museums, theatres, and health care organizations. Barbara’s experience developed from her time as a partial owner of her own accounting firm, which was based in Connecticut and serviced organizations in both Connecticut and Vermont. Her practice specialized in tax exempt organizations, small businesses, and public school audits. Additionally, a large part of the practice was required to issue their reports in accordance with the Office of Management and Budget Circular A-133 Federal requirements.
She is the director responsible for the gift tax compliance department for Marcum’s New York metro area offices.
Barbara’s areas of specialization include, but are not limited to, the following: IRS recognition of exempt status under Section 501(c)(3) of the Internal Revenue Code; contractor vs. employee situations reviews; operations reviews to test compliance in an effort to maintain an organization’s tax-exempt status; operations reviews and identification of potential private inurement or benefit to insiders and outsiders which could be used by the Internal Revenue Service (IRS) to terminate exempt status; proposed transactions and operations reviews and identification of potential “excess benefit transactions” which could result in penalty excise taxes to both the disqualified person and organization managers under the new intermediate sanctions; evaluation of an organization’s proposed and current fundraising activities for compliance with IRS and state requirements.
Professional & Civic Affiliations
- American Institute of Certified Public Accountants (AICPA)
- New York State Society of Certified Public Accountants (NYSSCPA)
- New York City Bar Association (NYCBAR)
- Department of Accounting and Taxation’s Executive Advisory Board for St. John’s University, 2013-2015
Articles, Seminars & Presentations
- Film credit as a production accountant for the documentary on Fran Lebowitz: “Public Speaking”, directed by Martin Scorsese