Visit the Shaks

  • Shak In Style
  • Shakhammer
  • Love Shak, Baby
  • LoanShak
  • ShakYard
  • WorkShak
  • Shaktronics
  • Shak & Jill
  • Animal Shak
  • Shak & Jill


    Join Jill for savvy Real Estate discussion.
    visit the shak!

    Did you know?


  • The average income for home office households is $59,000, versus $45,000 for total households.
  • read all shaktoids!

    « | Main | »

    May 28, 2009
    Nonprofit Organization: Still Pay Some Taxes

    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.

    Reblog this post [with Zemanta]
    Technorati Tags: , , , , ,

    Add to: del.icio.us  Digg  Face Book  stumbleupon  technorati
    TrackBack

    TrackBack URL for this entry:
    http://workshak.com/2009/05/nonprofit-organization-still-pay-some-taxes.html/trackback

    Comments

    [...] Read the original: WorkShak » Nonprofit Organization: Still Pay Some Taxes [...]

    Post your comment