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How to Start a Nonprofit Organization in 2021 (Step-by-step)

LyfeAccounting

When people give you money or they give you grants, they can write them off as a charitable donation on their tax return. You have tax exemption status. Of course, from our tax planning perspective, the biggest benefit is having tax exemption status once you incorporate your 501(c)(3).

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How to Get Small Business Tax Credits & Incentives

LyfeAccounting

And I really want you to understand this so that’s why I am dedicating the rest of this post to Tax Credits. The “What” and “Why” of Business Tax Credits. Business tax credits are credits that are AVAILABLE for businesses when they file their annual tax return. But WHY does this exist?