How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

I have an eBay business with net income of $3,000+ per month.

This answer was rated:

I have an eBay business with net income of $3,000+ per month. I also have a cat and rabbit rescue group that I started to file a 501(c)(3) but have not completed the process not knowing if I really wanted to do so. I am wondering if I should complete the steps for 501(c)3 and if so can I lower my personal income taxes from eBay business by doing so. I spend about $5,000-$6,000 per year on animal rescue. I need a CPA in my area, LaMirada, California.

MyVirtualCPA :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

MyVirtualCPA :

I am not in LaMirada California but I can answer your question regarding your animal rescue

MyVirtualCPA :

If your animal rescue is a not for profit with 501(c)(3) designation, you could lower your income tax because you will be able to deduct your contributions made to the organization

MyVirtualCPA :

You can deduct the $5,000 to $6,000 provided that the rescue organization is 501(c)(3)


OK, guess I better complete 501(c)(3) process as people keep dumping animals at the park by my house. Thank you.

MyVirtualCPA :

You're welcome. If you would, please rate my response as "excellent" so that I may receive credit for assisting you today

Megan C and other Tax Specialists are ready to help you