The church youth group where I volunteer is fund raising for a charity. A friend and I started a jewelry business and are giving our profits to the charity through the youth group. Once the fund raising event is over, my business partner wants to start paying ourselves some of the profit. I want a bank acct because right now she is keeping all the money and I don't like that. I got an EIN so we could get a bank acct and a vendor's license. When I told my partner we need to charge tax she got mad and her husband said that since we're a "charity" we don't have to charge tax. I have been on OH's tax website, the Sec of State site, the IRS site to figure this stuff out and I feel very disrespected and undermined. Her husband has not done any research, he just has opinions and she listens to him over me. We cant be nonprof if we will pay ourselves later. Her husband insists we are a charity so we dont need to charge tax. Im sick of dealing with him. He is not my partner. What would you do?
2006-11-06
03:24:09
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3 answers
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asked by
Katie L
3
in
Small Business