Maximize Your Tax Deductions With A Nonprofit-501 c3 (Nonprofit Tax Information Get BIG DEDUCTIONS!)

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Connect With Our Team To Get Your Nonprofit Started 👇
Email: [e-mail]
Watch and learn about Nonprofit Tax Information and how you can Get BIG DEDUCTIONS!
Did you know that almost all major universities are actually nonprofits? Till a few years ago so was the NFL!
Here are some ideas about nonprofits and nonprofit tax information.
Firstly your non profit must be filed and set up correctly. We can help you do that.
Here are some ideas for starting your own nonprofit and ways to do so that will help others while helping you qualify for the 501 c 3.
Provide housing that's low-to-moderate income housing
Housing for Veterans Housing for single moms, you can fill in the blank.
If it's helping out a group then chances are it qualifies as a nonprofit!
The way your non-profits set up, and I always put it into three categories is...
Number one is the state. That's what do the states view it as and what do I have to do with the state to create something?
The next one is 3rd parties, and then the last one is the federal government or the IRS.
Discover how to qualify and get the best possible legal deductions in this informative video discussing the tax benefits of starting or running your own non-profit organizations.
* 🚀FIND OUT HOW TO START AND RUN YOUR OWN NONPROFIT ORGANIZATION OR BUSINESS!
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.

[@TobyMathis]

Have questions about this video? Sign up for a free consultation to get your questions answered by the professionals. Visit: aba.link/223

[@estherlugo3447]

Just found your channel it is amazing content thank you barely learning all this legal content you explain it so well 😊

[@Lady-br3zy]

OMG! Thank you 🙏🏽 so much. I just officially liked, sub, and hit the notification button.

[@neoclassicalpiano8447]

Much appreciated. Subscribed.

[@thebusbycorp8618]

Great info 👏🏾

[@l.mckenna1034]

Thank you!

[@islandgirl5382]

Why haven't I seen U before today????? So happy that I did!!

[@longrange9131]

Very informative. Awesome advise!

[@texasRoofDoctor]

Fantastic. This answers my question of maximum tax deduction- 60% of AGI. Thank you for the great content.

[@goldsackb2]

This video should have millions of views

[@PavelPowel]

Your very smart easy to understand.

[@DiscovertourshawaiiLLC]

This is mind blowing

[@frankito2657]

ABSOLUTELY LOVE your videos. Can’t wait to call and talk to you or your colleagues for some consultation.

[@purpleblack7100]

God bless you for giving this advice,

[@Tiktokshopsecrets]

thank you for sharing this info for free

[@TobyMathis]

OSCAR STEPHANO Glad to know you found the video helpful. Remember to subscribe, we put out new content weekly!

[@VRMLIVE]

This is awesome information.

[@TobyMathis]

Thank you, we appreciate hearing that!

[@firstandlast3852]

Free game y'all!

[@superman2004ful]

Wow ya are badass!!!⭐️

[@malachinegrinelli5951]

No owners until the first tax year has been approved paid and it's community responsibilities, monies wise are completely IRS satisfied.

[@alvinatorres]

How would choosing 501c3 status affect me in securing investors for my real estate project?

[@Tonio0504]

The NFL being a non-profit is wild to me smh

[@khongcolong]

Like the McDonald’s slogan, I am loving it!!!

[@rcruz401]

Can I put my rental in a non profit even if I have debt on the property? If so, are you saying that I wouldn't have to pay the yearly taxes on it?

[@ryanscheurman2206]

so lets say im in the state of FL and the current system for training in my field sucks. so i can create a 501c3 non profit to offer training and certification?

[@shellimalerba1422]

I am going to meet with a couple of our county judges, Mayor and me. I would really like to talk to you.

[@EthnosSynergyEnergy]

I don't think you can deduct cash contributions to a nonprofit any longer as an s corp. The total profit will still pass through to your 1040.

[@garbagepicker]

Great videos always, I have a question 1023EZ says $50k or under in annual receipts, Now is that grants & donations and funds raised to help support the cause of the nonprofit? or only from the donations, grants, and items donated to the nonprofit? because we're planning on opening a thrift store to help raise funds for our cause to buy products to give to the homeless people.

[@visualeyesfilmworks6231]

WOW!

[@patrickogorman8879]

I get that I would pay less taxes - but won’t you end up spending all of it or am I missing something ?

[@travtrav20]

Thanks! I’m a 501c3 and a w-2 wage owner. I donated to other organizations and used money to pay for things I need to keep my non profit going. Do you have a video or advice on the best way to file my taxes and which type I,e 1040 10ez etc.

[@marknrebecca8742]

Did you ever get the answers you were looking for? I am in the exact same situation.

[@joystaton2497]

Hi Toby Esq. do you have a video about captive insurance? If not what is your take on those type of entities?

[@TobyMathis]

kzbin.info/www/bejne/hamneKSDbc54kJY

[@Dahmer_Jeff]

Great stuff. This channel is gold!. Im looking to implement this in my estate planning, as a 'non profit private family foundation', much like 'the bill and Melinda gates foundation'. Can a private family foundation open an IRA or HSA? If so, are the gains from investment growth also tax exempt? What options does a private non profit foundation have as far as investing goes. I can contribute to it all day but how can I then grow the funds withing the foundation as well?

[@TobyMathis]

IRAs and HSAs are for individuals, not entities. However, the non-profit can provide some of these benefits as part of employee compensation.

[@starr8111]

More videos on nonprofits please

[@TobyMathis]

Thank you, we hear you and we are working on it.

[@andrew-isac]

Can it be for an abroad poor people serving purpose ? Or shall be serving US local people

[@LAMacli]

I need help I run a non profit and started selling to raise funds on Etsy and different shops towards the organization but i received the 1099 misc other forms? Wonder what to do because I’ve also filed the e-card 990 but now I need to file this?

[@MSHairCandy]

Thank you for your value. What if I have a rental property and I'd like to use if for charitable purposes like section 8, but I use 508 C 1A instead of the 501 C 3?

[@TobyMathis]

You would use a 501c3.

[@cjplay2]

Thank you for this. What if the house was leased to the nonprofit but below FMV to provide affordable housing? Would this be an ongoing 30% deduction for the rental FMV (say HUD's FMR)? Thank you for this video.

[@TobyMathis]

No, the reduction of the rate of fair market value would not qualify you for a tax donation. This is because the tax benefit for the 501(c)(3) comes from donating the assets that will give you the tax deduction.

[@businessmanagementmadeeasy2555]

I really like your videos and have started sharing them on my website Business Management Made Easy. I included a link to your page. I hope that is okay?

[@TobyMathis]

Glad you find our information helpful and appreciate you sharing them!

[@victorreyes2196]

If I work for it is it the same

[@h0neybee77]

Hi can you make a video explaining 501 (c) 6 ? :-)

[@TobyMathis]

@h0neybee77 Thank you for your suggestion. We'll certainly look into this.

[@Mark-gf7nl]

I'm confused about the end game here. If you convert your rentals to nonprofits the income made by the nonprofit is nontaxable but you will still pay taxes on any salary you pay yourself. So how would this allow a landlord to keep more of the rent collected?

[@gridbasedotnet]

This is where making your wife/family member a director of the non profit would come in handy. Meals? Meetings. Vehicles? Tools for transporting people to and from the property Equipment? For business use.

[@Mark-gf7nl]

@@gridbasedotnet but you can already hire anybody you want and write that stuff off with an LLC, so I don't see the point.

[@kenlewis2253]

@@Mark-gf7nl the point is that your expense would decrease and you’d have more to invest in your properties. So money would grow much more quickly. You can never take take profits, but you’ll have a much bigger business that you can eventually draw an income from.

[@malachinegrinelli5951]

Troy Pickard HERE 2

[@beyell.michael]

I'm from Liberia, West Africa and trying to set up an NGO of voluntary, non-profit Foundation to assist needy individuals. I need your mentorship, so how will it works quickly?

[@justarealone7469]

Did you get what u need

[@andresvasquez929]

Can you use the non profit to help kids outside of the US ? I have been helping kids in need in mexico with after tax income. I am a high income earner also and If I can use the non profit and save in taxes I can help more.

[@JD-hi8qx]

Look into donor advised funds... And then start a 501c3 or else pick your fave.

[@Dahmer_Jeff]

They also say that LLCs are separate from your person's ( a LLC is a separate from you) but yet they can Pierce the corporate Vail if need be and come after personal assents, even in a wrongful lawsuit situation. That is contradictry and I feel defeats the lerpose of departing the business from personal liability. You say that a 501c3 is separate from the person as well. Are you saying that a 501c3 is exempt from the piercing of the corporate Vail?

[@TobyMathis]

The corporate veil can be pierced when an owner does not treat the entity as separate, such as co-mingling funds or using the business account to pay for personal expenses. The same can happen with a 501(c)(3). The result can be very high penalties for the owner and revocation of 501(c)(3) status of the entity.

[@danielletadros1891]

Im opening a transitional home for recovering addicts. Can i write off the mortgage and utilites, ins as a nonprofit? Can i also do that as an LLC, anf if so, what would be the advantage of being a non profit? Also, if im paying my child 13k to help, do they have to pay taxes on it? Im assuming so.

[@TobyMathis]

Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby

[@kareem4u]

Can you explain the benefits of the tax deduction? If you donate the money then you won't have the money anymore to spend. Wouldn't it have been better to have paid the taxes?

[@TobyMathis]

You still have the money under your control. Best example is someone paying 37% on their money. If they donate $100,000, they would have $100,000 within their control in the 501c3. If they do not donate, they would have $63,000 in their personal bank account.

[@christopherdupremd8897]

I see how the $63,000 cam benefit your family but how does having “control” of $100,000 benefit your family???

[@todoldtrafford]

@@christopherdupremd8897 I’m guessing your family members can be employed there

[@sandorsmassageservices]

Thanks. What is the difference between a 501c3 and 501c7?

[@waynecmontgomery]

A 501 c7 is a social club and you can not deduct membership fees or any donations you may make to it. And you must use form 1024. to form a 501(c)7

[@waynecmontgomery]

a 501 c 7 is a social club and membership fees are not deductible nor are donations to the organization also you need to use form 1024 to form a 501 c 7, A 501 c(30 has deductible donations and usually no membership class.

[@brandnewnew9905]

7:55

[@susanpritchett1916]

A friend turned me onto this site....any chance you're still monitoring this? If so, how do I ask a question without broadcasting my life here?

[@TobyMathis]

We replied to a previous comment you posted about messaging our social media

[@malachinegrinelli5951]

Or 501 c-4

[@michaeljohn7467]

If i sale a meteorite i found for 80,000 dollars, is this part of my income i made that year? Do i have to pay taxes on it or is this tax free money i made that year?

[@JD-hi8qx]

Sounds taxable

[@lesdell]

Real estate part begins at 10:00

[@erumbaloch2433]

So which state do you provide services.

[@TobyMathis]

Hi EB, Thank you for your question. We work with a network of attorneys across the US to ensure that our documents are legally enforceable and actionable in all 50 states.

[@erumbaloch2433]

@@TobyMathis Perfect thank you I will be contacting you.

[@1006Will]

Is it possible to form a non-profit here in the states to help a community in need overseas?

[@TobyMathis]

Yes.

[@TobyMathis]

Learn how to use the IRS tax code to your advantage and keep more of what you earn during this free webinar. aba.link/cq0

[@Dahmer_Jeff]

Anything donated to the non profit foundation is irrevocable, as I understand it. You no longer own the assets contributed such as the money, the properties, the heirlooms, etc. ... you simply control it.

[@TobyMathis]

Correct

[@christiancalderon3821]

Now, I know now how Warren Buffett is hiding his money besides offshore banks 🤔

[@christopherdupremd8897]

I see that you Control what happens to the contributions in the nonprofit organization but I do not see how this helps you or your family expect lowering your tax burden for the contributions you make….looks like the $ is gone

[@dawnballard1596]

Hello,I put in at least 51,000 into my non-profit this year and I also have my 501c3 I’m actually clueless!Will I receive any of these funds back

[@TobyMathis]

The funds are used by the 501c3 for whatever its purpose is. That does not mean you cannot be paid a reasonable wage for the work you do with the charity or that the charity cannot work with either you or another related party (even a business you own). That said, you should not donate monies that you need. My experience is that the money tends to flow one way INTO charities. Getting money back out defeats the purpose and comes with tax consequences.

[@sjd421]

I don't understand - what's the benefit if you're losing the money anyway? All you've done is shift your "lost" income from would-be taxes to the 501c3. Either way you're out the same amount of money. Am I missing something here?

[@christiancalderon3821]

Ask Warren Buffett why he is moving his money into Bill & Melinda gates foundation

[@sjd421]

@@christiancalderon3821 I'll have my people talk to his people 😉

[@sarahrichardson138]

Start a 501c3, "donate" 60% of your income to your own 501c3, you and your "board of directors" determine HOW your non profit spends the money in the account or uses the property of the 501c3.

[@sjd421]

@@sarahrichardson138 much appreciated for the response!! That makes a lot of sense to me.

[@Suthrngal]

If I pay myself through the 501c3, I have to pay taxes on that?

[@TobyMathis]

Yes, if you pay yourself a W-2 salary and wages, as well as receiving certain employee benefits. At this point, it will be no different than holding an ordinary job with a salary. There are a few rules allowing for certain non-taxable reimbursements among other things which may allow you to collect certain proceeds tax-free so long as they were paid pursuant to a specific reimbursement rule.

[@Jacquesmyers1031]

Replay

[@rahshaadthegod3486]

So I can donate my whole salary to my 501c3 and write off my tax liability?

[@TobyMathis]

Yes - in 2020 and 2021. It will be 60% of AGI in 2022 under current law.

[@edhuber3557]

Do you mean 'Minimize Your Taxes....'?

[@TobyMathis]

Technically I believe the usage is correct as maximize also is defined as "make the best use of". The word is normally not used this way. Thank you for your input.

[@erikbrown8688]

If I pay you 3000 to 3500 can you set one up for me?

[@TobyMathis]

I would like to direct you to our website andersonadvisors.com/nonprofit-501c3/ . Here you can sign up for a free strategy session to talk with a representative and see if Anderson can help you with that.

[@phoebusfreeman5199]

26 USC 508 (C) (1) (a) no need to apply. use 1st amendment.. you get a chritable deuction before the Johnson Amednment.. you mis lead... in section 501 there are many many organizations that are not restricted by 501 c 3.. you lost all credibility with me

[@phoebusfreeman5199]

all you say is true but only an attormey who could milk fees woul evade all the free ones

[@ckh57]

Who do you serve God or Mammon ( Mathew 6:24 ) This video is focused is not on God but on mammon, very sad!! Churches are businesses ,unless they are of the world system!!