N&K CPAs Inc.

One of the largest locally owned certified public accounting firms in the State of Hawaii servicing local, national, and international clientele across the pacific.

Welcome to N&K CPAs,  Inc, one of the largest locally owned certified public  accounting firms in  the State of Hawaii. The firm was founded in 1973 with  the partnership  of Sadao Nishihama and Glenn T. Kishida. Today, the  firm has over 60  personnel, including six principals.

There are five major divisions in the firm: Assurance Services, Tax Services, Management Consulting, Information Technology, and Administrative Services. Together, personnel in these divisions provide clients with a full range of services from the traditional audit, tax, and bookkeeping services to business and technology consulting. There is also an international department which services our foreign clients.

Publication advertising: What is taxable?

Many tax-exempt organizations publish magazines or other periodicals that contain editorial material related to the organization's exempt purpose. Often, these periodicals also contain commercial advertising.

When the advertising activity constitutes a trade or business regularly carried on by the organization, the sale of advertising represents an unrelated business activity. The organization will
pay federal (and likely state) income tax on this income if there is a net profit from the activity.

To determine the amount of unrelated business taxable income (UBTI) attributable to the sale of advertising, it is necessary to determine the following...

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