Real Estate

Recent Answers

2009-11-23 Nonprofit Law - Tax ID for Sports team:

In order to have donations deductible by the donors according to Internal Revenue (IRS) Service regulations and not to be treated by the IRS as a normal, for- profit business, you would want to first

2009-11-23 Nonprofit Law - Church owners of mobile home park:

It depends if he was trying to evade federal income taxes. In itself, though, there is nothing illegal in giving funds to a church. He would have still needed to account for as rental income on his return

2009-11-23 Nonprofit Law - Non-Profit Booster Club:

As your annual gross receipts are $30,000 the IRS will treat your organization as a regular for-profit corporation, especially if you engage in sales activities unless you file Form 1023 and receive the

2009-11-23 Nonprofit Law - Non-Profit Booster Club:

You wrote, "We know that an individual or entity therefore cannot deduct funds donated to us as a charitable contribution on their tax return". That is incorrect if you are a new organization or have

2009-11-23 Nonprofit Law - non profit Club:

It appears that you are referring to a 501(c)(7) recreational or social organization about which the IRS writes at www.irs.gov/irm/part7/irm_07-025-007.html Please note that donations to such organizations