So if someone creates a 501c and publicly states all proceeds to be used for x, does that mean those that created the non profit can actually take out expenses and otherwise pay themselves ?? ...
So if someone creates a 501c and publicly states all proceeds to be used for x, does that mean those that created the non profit can actually take out expenses and otherwise pay themselves ?? ...
My understanding is you can pay salaries related to getting the job done but you can't do member draws like in an LLC. If Kolfarge had been considered an employee and drawn paychecks (with taxes withheld), he would have been fine.
My understanding is you can pay salaries related to getting the job done but you can't do member draws like in an LLC. If Kolfarge had been considered an employee and drawn paychecks (with taxes withheld), he would have been fine.
Yea, i wonder if that is what the tax charges relate too - drawing expense money but neglecting to pay the tax (for what ever reason) on those payments.
Yea, i wonder if that is what the tax charges relate too - drawing expense money but neglecting to pay the tax (for what ever reason) on those payments.
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