Filling out government forms...this is not a fun thing. All we wanted to do was file for being a charitable organization so we can get a tax exempt form so we don't have to pay sales tax for things we buy to send to people for free! And, if someday someone wants to make a donation to Keepers Korner we have the 501(c)(3) classification so their donation is a tax deduction.
That is all we wanted to accomplish. So far we have had to register Keepers Korner as a fictitious name in our home state, then to file the state exemption we have to get the same on a federal level. But, before that we had to get an Employer Identification Number, even if we don't have any employees! Go figure! So, then I called the IRS about three or four different times, asking questions and getting different answers, another big surprise, eh? We are now trying to fill out the 1023 form for federal exemption and classification as a charity. The form is 28 pages long!!
To file, it is either going to cost $300 or $750. That doesn't mean you will get the charity classification either!! The two different prices are based on donations incoming, and since ours is el zilcho we get the lower of the two. What a break eh?
Oh yeah, it takes a while for them to get back to you also. But that doesn't mean we don't have to file other paperwork, oh no!! At year end we have to file a form 1065 and write that we have applied for the 501(c)(3) and they will "take it from there". You want to kill some time on the internet, go out and read the government sites, for your state and federal, woof, talk about some exciting and clear to read sites!!!
Oh well, if nothing else this should make filing our taxes look really easy!! Have a good weekend and take care everybody.
Peace and blessings to all of you,
John and Keepers
Saturday, October 07, 2006
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