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I am considering filing as an Non-Profit for the tax

Customer Question
I am considering filing...

I am considering filing as an Non-Profit for the tax advantage but do not know that it would work for me. I am just using this as a tax shelter as I will be owing lots more money in taxes as a single person on Social Security this coming year with the GOP tax plan.

Accountant's Assistant: Can you tell me where the nonprofit is registered?

I am not at this time. Considering it.

Accountant's Assistant: Has anything been filed or reported?

No.

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

No, except that I am a low income senior and have very little money to spend on this and am looking for ways to survive his GOP debacle!

Submitted: 7 months ago.Category: Tax
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12/1/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 7 months ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,759
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello. Thank you for choosing this Q&A service for assistance. My name is***** am reading over your inquiry. I will respond to you shortly.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 7 months ago

Hello. Thank you for choosing this Q&A service for assistance. My name is***** am reading over your inquiry. I will respond to you shortly.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 7 months ago

My apologies, I didn't intend to send the intro. Was not planning to respond. I will opt out and release the question back into the question queue so that someone else can assist.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 7 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,220
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Hello, I am a different expert.

Nonprofit status is a state law concept. Nonprofit status may make an organization eligible for certain benefits, such as state sales, property and income tax exemptions. Although most federal tax-exempt organizations are nonprofit organizations, organizing as a nonprofit organization at the state level does not automatically grant the organization exemption from federal income tax.

To qualify as exempt from federal income tax, an organization must meet requirements set forth in the Internal Revenue Code.

What type of non profit do you think you would like to organize? Unless you have some specific group or charitable work in mind then please know that this would not shelter anything for you personally.

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