Non-profits Archives - FREE Yourself from IRS Problems

Shamsey Oloko June 26, 2017 IRC Section 501, Non-profits 0

Know the Tax Code: IRC § 501

The Internal Revenue Code contains the vast body of federal tax law. Certain code sections are ubiquitous and well-known based upon their frequency of use. Some of the more infamous tax provisions are Sections 61, 162, and 501. This blog…

Shamsey Oloko January 9, 2017 Non-profits, Tax Fraud 0

Can Your Non-Profit Foundation Pay $10,000 For Your Self-Portrait, Like Trump?

In September, one of Donald Trump’s advisers offered an explanation regarding a portrait of Trump which was placed on display at a Florida golf resort owned by Trump. The Donald purchased the painting at a charity auction for $10,000 in…

Shamsey Oloko September 16, 2016 Non-profits 0

What Is A 501(C)(6) Organization?

While I.R.C. § 501(c)(3) organizations must advance a charitable purpose such as religion, education or public assistance, I.R.C. § 501(c)(6) nonprofit associations typically help small businesses advance their industry or business community. To qualify for the tax exemption allowed under…