10 Ways To Reap Huge Benefits From A 501(c)(3)

Want to discuss about creating your Nonprofit? Give my team a call today. aba.link/d1a428
Welcome to the insightful conversation between Toby Mathis and Karim Hanafy, where they delve into Karim's background as an IRS tax attorney and his role in the philanthropic division of Anderson.
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In this video, we explore the vast potential of a 501(c)(3) organization and unveil 10 powerful ways to maximize its benefits. Whether you're a nonprofit enthusiast, an aspiring founder, or someone curious about the impact of a 501(c)(3), this comprehensive guide provides valuable insights and strategies.
🔍 Key Insights Covered:
- Tax Advantages and Financial Incentives
- Fundraising Mastery for Nonprofits
- Building Strong Community Partnerships
- Leveraging Grants and Donations Effectively
- Enhancing Visibility and Impact
Watch now to discover how you can make the most of your nonprofit endeavors and reap substantial benefits!
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Show Notes:
0:00 Intro
1:18 Tax Reduction
7:27 Tax Benefits For Contribution
13:51 Donating Through a 501(c)(3)
19:17 Applying for Exemption
23:49 The Nine Benefits
29:03 Outro
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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.
#501c3 #NonprofitSuccess #TaxAdvantages

[@TobyMathis]

Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: aba.link/d1a428

[@LifeStrategies2.0]

Thank you Toby and the crew for all you have shared with me as a client, along with assuring the knowledge I knew was correct! 🔥😜 💯

[@TobyMathis]

Thank you so much for your kind words! We're glad that we could provide you with the information you needed and assure you of your knowledge. It's always a pleasure to have clients like you!

[@geauxride]

Wealth of knowledge! Great segment that helped me understand we are doing it right!

[@TobyMathis]

Thank you so much for your kind words! I'm glad that the segment was helpful for you and that you feel confident in what you're doing. Keep up the great work!

[@DrBrandonSchultz]

I love this content, thank you for sharing!

[@tinamcdonald2629]

Excellent!

[@MsSWILLIAMS88]

Very very informative. I have a 501c3 and I’m still learning allot. Thank you so much

[@TobyMathis]

Thanks for watching!

[@BharatKulkarniusa]

Awesome job Toby. Having Karim as the resident expert with Anderson (ex IRS :) was insightful!!!

[@TobyMathis]

Karim rocks:-) Super nice guy and a true professional when it comes to helping people.

[@pwgavin]

Hi Toby! Big fan. Quick q: Do you all keep a playlist somewhere of all the recorded tax tuesdays in full? I can never watch them live but love going back and watching them after. Thank you!

[@TobyMathis]

Yes we do! kzbin.info/aero/PLmje7Bbplo8kQvOB-FOY3sbBstKbD9WYX

[@cesarsilva-nv6de]

You guys are amazing I love your content and thank you so much for making them available for free on KZbin. The only thing that I will say I tried to open my 501 C3 with you guys and you were charging $6,000 for it. I little bit too much for me. Thank you again

[@TobyMathis]

Thank you for your kind words! We appreciate your support and understanding.

[@Jay-be3um]

Can you deduct the cost to set up the 501 C3?

[@LEAPwithPaisley]

Disabled, veterans, minorities Supporting children and families of children living with physical differences, developmental delays and mental health conditions. Specific disability limb loss and limb differences, Autism Spectrum Disorder, ADHD

[@mikehelton815]

Great video

[@TobyMathis]

Glad you enjoyed it

[@DTSupstateNY]

I need some Karim in my coffee

[@willmallory9085]

Excellent topic team.

[@aaronjarmstrong]

Love this channel. Can someone donate their IRA into the 501c3 without tax? For example, someone is of age where they can pull from a traditional IRA. Could they donate some or all of that stock to the 501c3?

[@TobyMathis]

You can donate up to $100k per year of RMDs as a Qualified Charitable Distribution (must be 70.5yrs old). Each spouse who qualifies can do this. The reason you contribution this way versus taking a taxable distribution is that when you make a QCD, 100% of the money is removed from the return versus 20,30,50 or 60% depending on the type of charity and asset contributed. Otherwise, you have to take a taxable distribution and donate the cash. This would likely bump you up against the 60% AGI limit for cash donations to public charities or 30% to private foundations. Hope this helps:-)

[@nicolekhaleghi]

Hey there! I'm interested in knowing what's the best way possible to make a charitable contribution to our family owned NON profit for 2023? And when is it technically to late?

[@TobyMathis]

Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/d1a428

[@Hi-jx5oe]

How many organizations in one year both US and international?

[@TobyMathis]

We can definitely assist you in organizing your 501(c)(3) effectively! Visit: aba.link/d1a428

[@jonebersole2854]

If I start a nonprofit for historical preservation, can that nonprofit contribute funds to repair a building that is privately owned?

[@TobyMathis]

Thank you for considering starting a nonprofit for historical preservation. I recommend setting up a free consultation to discuss some strategies and how they apply to your unique situation. aba.link/d1a428

[@GeorgiaCrime]

I’m confused. What’s the difference between creating a donor fund vs giving directly to a charity?

[@TobyMathis]

With a Donor Advised Fund (DAF) you contribute assets to a fund managed by a sponsoring organization, such as a community foundation or financial services company. You then recommend grants to eligible charities from the fund over time. This gives you control over when and how much you donate to different charities. Direct giving involves donating directly to a charity without an intermediary, giving you less flexibility but a more immediate impact.

[@ktruth4real]

Can I donate into my 501c3 and pay children’s private education through the 501c3?

[@TobyMathis]

That's a great question. I recommend you connect with our team to get this question answered. Email: [e-mail]

[@bonniej0]

You know I'm not in an organization but I'm on disability and I don't make a profit can't I claim non-profit??.

[@TobyMathis]

Hey, I would recommend you give my team a call so we can provide you the best answer. Visit: aba.link/d1a428

[@bonniej0]

Shouldn't everybody on Social Security be non-profit

[@robertduffy5805]

How do you stop your board from throwing you out like James O'Keefe was?

[@TobyMathis]

Make sure your bylaws have you as a founder with veto powers:-)