Charitable Contributions And Tax Deductions
For instance, if your nonprofit earns any income from unrelated activities, it will owe income taxes on that amount. Also, any nonprofit that hires personnel will will need to pay employee taxes like Social Security, Medicare, and, in some situations, Unemployment Taxes. The major type you will use to register for tax-exempt status is IRS Form 1023(the long-form). The trouble is the lack of direct fiduciary duty for the expenditure…Read More