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Tax Planning: U.S.

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2016-12-09 Nonprofit Law - scholarships to board members:

Yes, definitely, if the scholarships are going to members of the directors families more than to the public.  Inurement (prohibited  benefits to insiders) is discussed by the IRS at

2016-12-08 Nonprofit Law - 990:

I have in my profile that this free forum is only for general questions about IRS federal exemption issues of 501(c)(3) organizations and I wrote there that I would not be answering questions about "how

2016-12-08 Tax Law (Questions About Taxes) - Estimated Taxes:

Jeff,    Thanks for your question.    There are three safe harbors to avoid a penalty for underpayment of estimated taxes. Any one will avoid the penalty.    1. Owe less than $1000.  2. Pay in an amount

2016-12-07 Nonprofit Law - 501c3 Non-Profit Baseball Team:

Yes. A Nonprofit organization, just like a for-profit organization, may open more than one account.  Your separate account may be for saving money for Cooperstown.     Harvey Mechanic  Attorney at Law

2016-12-07 Nonprofit Law - 501c3 Non-Profit Baseball Team:

A 501(c)(3) organization that is not a private foundation may accumulate funds for a few years for a goal, like the purchase of a building or to attend the Olympics, as long as it maintains substantial


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