In a non-profit organization, all funds earned or donated must be used to achieve the goals of the group and pay its current expenses.
Non-commercial funds never go to members, directors or officers of the group.
Many non-profit organizations have much in common with commercial organizations and use similar business tactics and management methods to run their businesses.
Each non-profit organization must comply with the requirements of the government agency that regulates the activities of the charities in which it is based.
Form 1095-C: Employer Health Insurance Offer and Coverage is a tax form with information about employee health insurance offered by the eligible Large Employer (ALE).
Form 706 is used by the executor of a deceased person to calculate inheritance tax owed under Chapter 11 of the Internal Revenue Code (IRC) and to calculate Generation Pass Transfer Tax (GSTT) under Chapter 13 of the IRC. .
A limited liability company (LLC) is a corporate structure that protects its owners from personal harassment for paying off debts or obligations of the company.
A limited partnership (LP) exists when two or more partners start a business together, but the limited partners are only liable up to the amount of their investment.
Substantial participation tests help determine whether a taxpayer has been materially involved in a business, lease, or other income-generating activity.