Starting An Online Business: Should I Incorporate?
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hi Marlee, do you have further advice specifically focused on the non-profits platform and how that might work online with this similar idea you shared? I like what you shared about don't do it as a sole entity. I can foresee a charity events idea growing into a non-profit one day.. thanks for any other info on this.. . the last while I am just learning bits and pieces and keeping curiosity alive!!) :) just wondered what you know about this arena? :) ... lots of luv, ... Jenn
BLOOMINGPARIS 8 months ago
@BLOOMINGPARIS Hey Jenn! Great to connect with you here. As for non profits, the main benefit is to be tax exempt. This means you want to incorporate and at 501c3 entity. There are VERY SPECIFIC instructions on how to do this properly. Search the IRS website for more info. It's a lengthy process, but if you plan to accept charitable contributions and avoid taxes on them. That is the way to go. Hope that helps. Thanks for your question! :)
marleewarddotcom 8 months ago
@marleewarddotcom Thanks Marlee, I'm considering to start by doing what I love for others and then suggested donations for contributing to go to my 2 favorite organizations.... and then eventually go non-profit. Do you think that could work .. ? Of course I will look into this further.. the idea is coming to me in increments, not enough yet to become that but I can foresee it happening ... practicing and then collaborating and set to flight for non-profit after some more research and training...
BLOOMINGPARIS 8 months ago
@BLOOMINGPARIS Jenn, that is a great idea and a workable strategy. You should definitely pursue that. :)
marleewarddotcom 8 months ago
=)
DestroyerOfEvil247 9 months ago
@DestroyerOfEvil247 :) back at ya!
marleewarddotcom 8 months ago