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I have my business forming a Subsidiary to a Nonprofit, Charitable Tax-exempt Corporation. So, a portion of what the business made goes to the non profit's mission.
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I have my business forming a Subsidiary to a Nonprofit, Charitable Tax-exempt Corporation. So, a portion of what the business made goes to the non profit's mission.
Hi, @royarohanirad , thanks for the question! However, questions on corporate tax are somewhat outside of our scope. I can only say that this may or may not be deductible as a charitable business expense. I would suggest that you consult an accountant on this matter. Sorry I couldn't be more help!
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I have my business forming a Subsidiary to a Nonprofit, Charitable Tax-exempt Corporation. So, a portion of what the business made goes to the non profit's mission.
What type of entity do you currently have at this time?
You should note that an S corporation cannot have a nonprofit subsidiary.
If this is a C corporation, then (a) TurboTax cannot be of much utility for your purposes, and (b) you should seek advice (tax and legal) from local professionals.
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I have my business forming a Subsidiary to a Nonprofit, Charitable Tax-exempt Corporation. So, a portion of what the business made goes to the non profit's mission.
consult a tax pro. forming a tax-exempt org require filing certain paperwork with the iRS. tasx exempt orgs are beyond the scope of this forum.
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