2006-08-03 08:15:07 · 17 answers · asked by darkpoet3000 3 in Business & Finance ➔ Personal Finance
I have the latest Nolo Press book on non-profit corporations, and as I understand it, you need at least two people, so that the President and the Treasurer are two different people. There are a lot of other requirements, but no, one person cannot do it alone.
2006-08-03 08:20:05 · answer #1 · answered by auntb93again 7 · 0⤊ 0⤋
The best way to become Tax exempt is to form your own company and be hired as a 1099. By doing this, You are able to right of EVERYTHING you spend as business expenses. At the end of the year, you can claim all of those deduction and virtually no personal taxes. Talk to an accountant but it worked for me. I don't pay that much in taxes, if anything.
2006-08-03 08:20:15 · answer #2 · answered by Mscott21 2 · 0⤊ 0⤋
yes, you can be tax exempt for business or school purposes only. You are only being exempted from the taxes because you are buying the goods in order to sale them as retail, in which case they will be taxed then. That way the items are not being taxed twice
2006-08-03 08:20:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Become a Congressman. Congressmen pay no Social Security tax; they are allowed to arrange their own retirement funds.
Oddly, our government doesn't think the rest of us are smart enough to do this on our own; that's why they collect S.S. taxes (which we will never see back).
Thanks so very much, Democrats!
2006-08-03 08:20:13 · answer #4 · answered by silvercomet 6 · 0⤊ 0⤋
A. Stop working (no income)
B. Become a full-time Student. (That's what I do)
But I think you have to totally stop your money flow if you want to pay absolutely no taxes. Cause you pay a certain percent of tax on the groceries you buy... and so on.
2006-08-03 08:20:08 · answer #5 · answered by Sleeping Beauty 2 · 0⤊ 0⤋
If you mean exempt from personal income tax, that's pretty easy.
Stop earning any personal income.
2006-08-03 08:17:16 · answer #6 · answered by Timothy W 5 · 0⤊ 0⤋
There are rumors about it, but legally, I cannot hire you for anything unless you have a tax ID or a social. It is illegal to work and not pay taxes
2006-08-03 08:17:26 · answer #7 · answered by billyandgaby 7 · 0⤊ 0⤋
Marry a Native American in Canada. That'll do the trick.
2006-08-03 08:17:33 · answer #8 · answered by Chaosman 3 · 0⤊ 0⤋
in many states you can incorporate as a non-profit with only one member of the board of directors.......... then you file for 501c3 status.
your personal income from the non-profit is still taxable
check the small business administration for details
2006-08-03 08:20:30 · answer #9 · answered by Anonymous · 0⤊ 0⤋
If you collect Social Security.. and make under a certain amount you can..
2006-08-03 08:18:49 · answer #10 · answered by AT 3 · 0⤊ 0⤋