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Tax Planning: U.S.

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2014-04-22 Nonprofit Law - Replacement of Un-Cashed Check:

Yes. There are no IRS regulations prohibiting that for nonprofits or for the for-profits. There would be specific accounting issues, though, but that is beyond the scope of this free forum as I wrote in

2014-04-21 Nonprofit Law - non-profit fundraising for a Gymnastics Booster Club:

It will not be a problem if the Board of Directors authorizes a fundraising effort for the group.  But, not that the 501(c)(3) organization may not require anyone to raise any funds. My summary of IRS

2014-04-18 Nonprofit Law - AA in Mass:

First you file the SS-4 form to obtain a EIN (Employer Identification Number - or Taxpayer Id number).  Then you would file Form 1023 application for exemption if you want 501(c)(3) organization status

2014-04-18 Tax Law (Questions About Taxes) - Offsetting Capital Gains:

Capital gains cannot be offset by business losses.     I would reconsider.    Buying into a less than stellar property, just to postpone the cap gains tax, may not be prudent.    You are only postponing

2014-04-18 Nonprofit Law - Booster Organization:

My summary of IRS regulations relating to 501c3 booster organizations is at:  http://goo.gl/ULw6f6  and you may be interested to read that.     Harvey Mechanic, Attorney at Law -   Harvey108@hotmail.com


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