Any time you’re dealing with the tax system and the federal government, you should be taking care to make sure that you’re following all of the rules. This is even more crucial, though, when you’re dealing with a non-profit. Because of the special tax status that these organizations enjoy, they’re under additional scrutiny when it comes to their legal obligations and following the rules that limit the kind of activities in which they can engage. Rather than risk trying to navigate this complicated system for yourself, you can turn to Woloshen and Herman C.P.A. for help.
The complexity of the non-profit system is an unfortunate necessity. The option of creating such organizations exists because there is a legitimate need to encourage certain types of charitable and pro-social activities. Sadly, there will always be people looking for loopholes and ways to take advantage of a good system to benefit themselves. As they find ways to abuse the system, Congress and the IRS adjust the rules to try to limit the room for abuse without taking away from legitimate operations. Even the best and most sincere organization needs to be concerned with these rule changes, because it is possible to make mistakes that could endanger your tax-exempt status.
Rather than try to keep track of the legal rules yourself, it’s best to work with professionals. Experts like those at Woloshen and Herman C.P.A. can spend a lot of their time on making sure that they’re aware of every change in both the actual laws and how the IRS is interpreting them. By enlisting their help, you can keep more of your attention on the actual mission that your non-profit is trying to achieve.
It’s unfortunate that non-profits have to spend so much time worrying about how to stay within the rules that the government has set, but this is necessary for any organization that wants to be able to enjoy such a tax-exempt status. By working with accounting professionals, you can greatly reduce the amount of time that you spend worrying about regulations and avoid the repercussions that could come with making a mistake. Get more information here!