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Recent Tax Exemption questions

Can a California LLC be a real estate holding company for a

Can a California LLC be a real estate holding company for a IRS IRC 501(c)(3) Charity's real estate ?

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KJLLAW

Juris Doctorate

1,042 satisfied customers
I would like to start a social enterprise ( online platform

I would like to start a social enterprise ( online platform for mentally ill teens) - would like to know if non-profit incorporation or for profit incorporation is better. Need initial "seed" donation/funding and then over time have revenue sustain operations. All profits will be invested back in growing the community. Over time there are likely to be two to three employees others would volunteers. The revenue model is via online sponsorships and ads as well as direct revenue from referrals to professionals.

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Maverick

Doctoral Degree

6,360 satisfied customers
Please direct my question to the appropriate lawyer. My wife

Please direct my question to the appropriate lawyer.My wife and I would like to pay off our son's college loan of about $40,000. What is the best way to pay so that we don't incur gift tax.Instead can it be tax deductible if we pay it directly to the lender, which I believe is the government.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

46,322 satisfied customers
This question is JACUSTOMER-lt2jm5su- What is the non-exempt

This question is for only JACUSTOMER-lt2jm5su- What is the non-exempt status that is violated when a IRS IRC 501 C ( 3 ) Charity is a member of a LLC that has not qualified for tax exemption as a charitable organization its self ?

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37,830 satisfied customers
I own a medical supply business. I just received an

I own a medical supply business. I just received an "urgent" email from one of our large medical suppliers stating that they were contacted by the Minnesota Department of Revenue (te state in which I do business) asking for a current Tax Exception form for my business. We of course sent that Form to them immediately. I suppose my question is an obvious one; Should I be preparing myself for an audit? I will add that I always pay my taxes, and previously, have never been audited. This request seemed odd to me, and I have never received a request like this, in the 10 years we've been in business.

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Dwayne B.

Juris Doctor

35,342 satisfied customers
I own a house in Idaho, I currently work and live in

I own a house in Idaho, I currently work and live in CaliforniaCan I register my Vehicle in Idaho with my Idaho address.

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Samuel II

Attorney

Doctoral Degree

31,928 satisfied customers
I'm currently looking to split up ownership of my business

I'm currently looking to split up ownership of my business to my two sons. How would i go about doing that? I live in California and don't know if every state has their own way of doing it.

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Richard - Bizlaw

Juris Doctor

9,616 satisfied customers
We have a small non profit which is part of a very large non

We have a small non profit which is part of a very large non profit. The problem is that potential funders are turned off by the large endowment of the larger non profit. Is there a way to create a sub-501C3 which is separate for purposes of fundraising?JA: When it comes to nonprofits, the ins and outs can be complex, so getting accurate information is key. The attorneys we work with have a lot of experience, and I'd like to match you with the one who's the best fit. Have you consulted a lawyer yet?Customer: I am a lawyer, but business law is not my expertise.JA: Is there anything else the Corporate Lawyer should be aware of?Customer: Not that I can think of.JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Corporate Lawyer about your situation and then connect you two.

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Irwin Law

Juris Doctor JD

8,460 satisfied customers
We arent closing our church but we felt we should prepare for

we arent closing our church but we felt we should prepare for the future. We are an independent Baptist church. How do we prepare something that gives our building and assets to a church we choose that is like faith an rder like us? Its in our business minutes, the motion, vote and appoval for our assets t go to this church we have chosenJA: Real Estate issues can be tricky and expensive. The Lawyer will need to help you with this. Have you consulted a lawyer yet?Customer: noJA: Is there anything else the Lawyer should be aware of?Customer: we have no debt. our church is paid for. about $50,000 in the bank acctJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.

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Irwin Law

Juris Doctor JD

8,460 satisfied customers
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