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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I would like to know a non-for-profit organization but not

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I would like to know a non-for-profit organization but not 501(c)3 tax exempt organization's accounting and payroll tax rules. Is there different from regular business accounting and payroll tax rules?

Megan C :

Thanks for your question, and thanks for using JustAnswer.com

Megan C :

How are you today?

Megan C :

A non profit organization has the same payroll reporting and tax rules as any other business.

Customer:

Great. Thanks.

Megan C :

So, you owe all the same payroll taxes.

Customer:

the same as other business, no exception?

Customer:

how about accounting?

Megan C :

Accounting is entirely different.

Customer:

it's not a 501c3 organization.

Megan C :

Yes, but you still do non profit accounting

Megan C :

You will have to keep various asset classes separate

Customer:

can I do a little bit more research and ask you more questions about this part?

Megan C :

Yes, you may. But if you would please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

ok.

Megan C :

Thanks so much

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