Salah M Obeidallah NAIT Executive Director BS in corporate - - PowerPoint PPT Presentation
Salah M Obeidallah NAIT Executive Director BS in corporate accounting MBA in cost accounting and taxation Life Experience Founded and managed the Islamic Center of Passaic. NJ President for ten years Founding member of
BS in corporate accounting
MBA in cost accounting and taxation
Life Experience
Founded and managed the Islamic Center of Passaic. NJ
President for ten years
Founding member of three Islamic Schools, NJ
Managed them on and off for close to 7 years
CEO of a manufacturing company with over 100 employees
CEO of Japanese Distributor, NJ
Establish in 1973 as a Trust Organization –Waqf. Currently has 400 Properties .
Pooling of Islamic Centers Resources to benefit all affiliated Centers. Islamic Centers Cooperative Fund (ICCF)
Published and distribute Islamic Books to American Muslims
Established Sharia compliant mutual Funds to allow average Muslim to invest in a halal manner.
Provide added value service to our affiliated Centers
Insurance
Interest Free loans
Legal Advice.
Islamic Centers Cooperative Fund ICCF Pooling Centers Resources for the Common Good.
What is ICCF: Islamic Centers Cooperative Fund Established 40 years ago 200 Islamic Centers, Schools, Relief and Civic
Organizations
Has over 50 millions dollars Never lost a penny for any Investor Yield of over 5% over 38 years 2019 Yield : 8%
Islamic Centers
ISGH
Islamic Society of Greater Houston
Contact: Suhail Syed
713-524-6615
Mosque Foundation of Chicago
Contact: Br. Mohamad Chehade
708-430-5666
Isalmic Center of Madison
Contact: Dr. Ibrahim Saeed
608-251-4668
Reference List
Islamic Center of North Louisiana
Contact: Ali Darrat
318-255-6902
Islamic Center of Cedar Rapids, MI
Contact: Hasan Igram
319-362-0857
Hampton Road Mosque, VA
Contact: Dr. Ahmed Noor
804-826-7638
The legislation purpose is to help American taxpayers and businesses overcome the economic difficulties resulting from the coronavirus pandemic. Key Components: Direct help to individuals Checks- Phases out at certain AGI . Adjusted Gross Income Adults $1200 **** Kids $500 IRA withdrawal of $100,000 –No 10% penalty , taxable over 3 years, can recontribute after 3 years. Waives Required Minimum Distribution for 2020. $300 above the line contribution deduction Employer can pay $5250 against student loan .. Tax free
PPP : Paycheck Protection
A- Salaries and wages
B- Payroll taxes
C- Utilities
D - Payments to sub contractors (1099) Credit of 50% against payroll taxes :up to 10,000 –
Conditioned on decline of 50% in Gross Receipts
Delay of social security payments, Employer-side Social Security payroll tax payments may be delayed until January 1, 2021, with 50 percent owed on December 31, 2021 and the other half owed on December 31, 2022.
Do NOT Use. EIDN $10,000 Loans Up To 2M
Form To Use Page 1
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