So, you are thinking about a nonprofit organization and obtaining 501c3 tax exempt status. You are not quite sure if you should establish a 501c3 or a private foundation. You think starting this nonprofit will keep you from paying taxes. You just need a bit of insight. 

My business bestie, Patrice Berry, E.A., principal of Total Tax Experience asked me to help answer a client's question regarding nonprofit tax status. Well, even though this response was provided for TTE, the information is for everyone!  

In this video I will take a high-level approach to discuss:

• The key differences between public charities and private foundations
• Why nonprofit doesn't always mean "no taxes" (yes, that's a myth!)
• How to file for 501(c)(3) tax-exempt status and what you need to know before applying
• Important details about fiscal management—the "Achilles' heel" of most nonprofits
• How to handle family fundraisers and scholarships within a nonprofit organization the right way

Now, sit back and take a listen!