Many people find that they can start a nonprofit organization from home, and do a little good in world, as well as bring in a little to help offset expenses. However, it is important to remember that in such cases you are still required to pay some taxes, as Investopedia points out:
While the income of a nonprofit organization may not be subject to federal taxes, nonprofit organizations do pay employee taxes (Social Security and Medicare) just like any for-profit company.
Your organization will not have to pay income taxes (unless you actually make a profit — it’s called a nonprofit for a reason), but there are other obligations you will have to oversee. Before you decide to start a nonprofit organization from home, it is a good idea to consult with a knowledgeable accountant or tax professional, and visit the IRS Web site.
Technorati Tags: Home Office, Income tax, IRS, nonprofit organization, Social Security, Tax

![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=0d6d1c23-34c7-48f1-ba87-2c9b163ac12e)


[...] Read the original: WorkShak » Nonprofit Organization: Still Pay Some Taxes [...]
Posted by: Valuable Internet Information » WorkShak » Nonprofit Organization: Still Pay Some Taxes | May 30th, 2009 2:31 am |