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Im secretary at an AA Intergroup Office which is an operation

Resolved Question:

I'm secretary at an AA Intergroup Office which is an operation that provides recovery literature and phone answering services for three counties here in Missouri, my treasurer is telling me we have incurred a $750.00 expense for a 501c not for profit organazation set-up cost, there are no profits, and we sell literature at cost, I can't phantom nor afford such charges, we barely pay are rent and phone charges prior to such an expense?XXX@XXXXXX.XXX
Submitted: 5 years ago.
Category: Tax
Expert:  Ed Johnson replied 5 years ago.

Dear jchapp,

 

Thank you for your question.

 

Did you use an agent or organziation to set this up or did you do your own online registeration with the state?

Customer: replied 5 years ago.

I don't have state registration in front of me but I know it was all mailing, took six weeks to complete if not twelve, can get state documentation if necessary....

Expert:  Ed Johnson replied 5 years ago.

Dear JC,

 

here is the deal. You stated that you have an expenses of 750 for a 501(c) set up cost.

 

If the organizers did it themselves, the filing fees with the state would have been way less: Please see the list of fees here: http://www.sos.mo.gov/forms/corp/cfeesch.pdf

 

You would have had a registered agent, I assume. Most likely one of he ones on this list: http://www.sos.mo.gov/business/corporations/registered_agents.asp

Most charge a fee to act as your registered agent.. So if you have a registered agent that could go as high as 750 but that would be very high. A typical registered agent may charge only 100 to 200 dollar plus state fees. If monthly it could be between 25 and 50 dollars a month.

 

750 dollars is a magic number. That number is XXXXX what a company charges to do the work for you. (between 500 and 750 dollars) Most charge 750 dollars.

 

The thing is, who ever is doing your accounting should know who this bill comes from. You are not indicating who it comes from. I get the idea from your question, you might not know that. But lets assume you do know or can find out.

 

If the source of the set up fees is from a third party provider, then they likely have receivables policy of payment on account of : demand, 30 day pay, 60 day pay, etc.

 

It is possible to contact this person and ask them for installment payments based on your status as a startup non-profit. I can not speak to the source you have, but most would work with you.

 

NOTE: if you had incorporated yourself, any fees to the state would have been paid when the forms were submitted. So unless the 750 is from a 3d party provider, I doubt it is a state source.

Customer: replied 5 years ago.
the $750 charge is the feds charge for filing only, its based on your gross earnings, less than 10k is $300 more than is $750...I can cut and paste the paragraph....
Expert:  Ed Johnson replied 5 years ago.

Dear Jcchapp,

 

I forgot about the fed. When you said setting up, I was focused on the state and local requirements.

 

I know about the fees charged by the FED.

 

They will also work with you if you contact them. Have you called them to see if you can get an installment agreement.

Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience: GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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Ed Johnson
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GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee