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Tax Benefits Of Llc Vs. S Corp

Nonprofit Marketing Insights by GlobalOwls

Tax Benefits Of Llc Vs. S Corp You risk paying more taxes if you create an LLC without choosing S Corp taxation since you’ll automatically be taxed as a sole proprietorship. It may be quite cost-effective for you to choose S Corp taxation for your LLC. Some LLC owners choose S-corp taxation to reduce their self-employment taxes.

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BDO’s Rebekuh Eley Appointed to AICPA’s Exempt Organization Taxation Technical Resource Panel

BDO

BDO is pleased to announce that Rebekuh Eley, tax senior director in Chicago and a member of the Nonprofit & Education practice, has been appointed to serve as associate member on the American Institute of Certified Public Accountants (AICPA) Exempt Organization (EO) Taxation Technical Resource Panel (TRP).

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Legislative Update – March 22

MNA Association

in Senate Taxation. The bill was heard in House Taxation and we await their decision. The bill will be heard in House Taxation on 03/24/2023. MNA will oppose and we encourage you to reach out to committee members. The bill will be heard 03/23/23 at 8:30 a.m. Please consider reaching out to the Committee in support.

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Oppose HB 391: Fees on Nonprofit Property

MNA Association

in House Taxation, Room 172. What you can do: 1) Most important, if you or someone in your circle has a relationship with a legislator on the House Taxation Committee , or is in that legislator’s district, please reach out today to ask for a “no” vote on this bill. Borrow as much of our language as you’d like.

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2023 Montana Legislature: Week Two

MNA Association

MNA watches bills related to the nonprofit sector generally including Appropriations, Taxation, Charitable Giving, Workforce, Voting/Elections/Ballot Initiatives, Campaign Finance, and Lobbying. Revise Property Taxation of Nonprofit Organizations The draft of LC2300 was returned to the bill requester, Representative Essman (R) this week.

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2023 Legislative Session: A Recap

MNA Association

We successfully testified against six attempts to tax nonprofits, including property taxation of all healthcare organizations, unique taxes on nonprofit agricultural land, and the most perplexing of all, a bill that would charge unrelated business income tax on certain litigation expenses. Sadly, we saw more of this in 2023.

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Looking for Tax Money in All the Wrong Places: Structural Racism at the IRS

NonProfit Quarterly

As with most injustices in our economic and political systems, regressive taxation has hit BIPOC and low-income Americans the hardest. Toward a More Just Tax System Beyond intervening to change the audit protocols, there is a desperate need to replace current regressive tax collection practices with a more just system.

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