bankans
Aug 8, 2007, 06:19 PM
Hello I have a website and a forum under it. We are planning to create a NPO. Can we use our forum part only as NPO and keep the rest of the site profitable?
Please help.
Fr_Chuck
Aug 8, 2007, 06:28 PM
A NPO can have a part that makes a profit, as long as it pays taxes on that money. For example a church may own a apartment building, while its donations are not taxable, its other income can be taxable.
If you are creating a NPO, even have a business you need to sit down with a good CPA and have all sorts of plans made.
The dividing of income for a NPO can be touchy.