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I am setting up an investment club. I formed an LLC in
I am setting up an investment club. I formed an LLC in Nevada. I had formed a three member LLC in Nevada last year and ran into issues trying to open a bank account. The bank wanted all three members … read more
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ok, rabbit club- we obtain membership fees which are then used to sanction shows for the club members. EIN is confusing. We have members in several Midwest states. Iowa hosts our president, secretary. Mn our treasurer. Do I give my SS to fill out an EIN as acting Treasurer. How do I proceed for a non-profit club? … read more
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I just want to open a bank account motorcycle club, and want
I just want to open a bank account for my motorcycle club, and want to know if i will need a tax ID number? … read more
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We are a social club with less than $5,000 in teh bank. Our
Customer: We are a social club with less than $5,000 in teh bank. Our income comes strictly from dues. We hold socail meetings 4 times a year and a golf outing. There is no payroll. All teh money is u… read more
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Our yacht club is a 503c7. We are starting an endowment
Our yacht club is a 503c7. We are starting an endowment fund. The fund would be within the 503c7. Is a separate tax return required for the endowment fund, or is it covered within the tax return for t… read more
socrateaser
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Howard built a successful financial services business that
Howard built a successful financial services business that he sold years ago for millions of dollars. He made so much money that he will never had to work again which left him with plenty of time to p… read more
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We are a non-profit sports association that is unincorporated
We are a non-profit sports association that is unincorporated and has gross income of less than $5000 per year. We have been in existence for several years and have not been filing the required 990 fo… read more
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I am the treasurer of our local fishing club, made up of mostly
I am the treasurer of our local fishing club, made up of mostly retired men and women. We are registered with the State of Colorado as a non-profit organization. We work with our city Parks and Recrea… read more
LEV
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I am a new Board member of a club with 1200 members, 24,000
I am a new Board member of a club with 1200 members, 24,000 income from dues, 3,000 from memorabilia sales. The club is more than 20 years old and would meet all the requirements of a 501c7 Social clu… read more
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We are a small club and some think we need to pay taxes on
We are a small club and some think we need to pay taxes on our one fund raiser a year. We gather bazaar things from our members all year, then in the fall we hold a Bazaar and let the public in to buy… read more
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We are starting a volleyball club in PA. The parents are billed
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We are a social club with dues as our main income source with
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I am the head of a social group that buys wine collectively
I am the head of a social group that buys wine collectively and holds tastings. We'd like to get a bank account for our club (we do NOT make any profits, but at times carry a balance that we save up f… read more
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a family membership was purchased several years ago in a riding
a family membership was purchased several years ago in a riding club. the club is now being asked to extend the membership to grandchildren for no additional cost to the member. is this a taxable even… read more
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I am forming an organization that needs to collect annual membership
I am forming an organization that needs to collect annual membership dues. What type of a corporation do I need to form so I can open an account with a bank. The only monies collected will be for annu… read more
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My online (informal) social group wants to collect money for a big party, and leftover proceeds will go to charity. The amount of money involved is likely to be large ($200,000+). I've looked into usi… read more
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What happens when a member of a nonprofit club does not ...
What happens when a member of a nonprofit club does not turn in a receipt for the correct amount and/or does not turn in receipts at all? Club's by-laws state, "No money can be paid without a receipt … read more
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