The IRS rejected an application for tax-exempt status by a dues-paying networking group that provided a platform for local businesses to highlight and share information, list their businesses on the group’s website, and participate in development opportunities. The reason: the group’s activities serve the private interests of the members rather than a public interest. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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Financial Literacy: What Owners and Employees Need to Know - #smallbusiness #finances #bookkeeping #accounting