Think 501(c)(3) Means Tax-Free? Think Again.

One of the most common misconceptions in the nonprofit world is that 501(c)(3) organizations are exempt from all types of tax. While 501(c)(3) entities enjoy broad exemptions from federal and state/local taxes, there are many types of tax these organizations must pay. It is important for 501(c)(3) organizations to be aware of the various tax obligations, despite their exempt status....
By: Buckingham, Doolittle & Burroughs, LLC