If so, how do I claim/deduct that on my personal taxes? Would it be considered a donation or contribution to get the nonprofit started or would it be an unreimbursed company expense? I just want to make sure I'm not doing anything that would negatively impact me or the nonprofit.
Yes, you can deduct personal start cost used in the your Non-profit corporation as long as you have been granted 501(c) status or you have filed your 1023 application.
You can deduct the cost as charitable donations.
Yes, you can deduct personal start cost used in the your Non-profit corporation as long as you have been granted 501(c) status or you have filed your 1023 application.
You can deduct the cost as charitable donations.
I'm filing separately for this non-profit can I use turbo tax for this
I'm filing separately for this non-profit can I use turbo tax for this