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Can you take some of your profits from your business to start a non profit business?
Wiki User
∙ 13y ago
IF you are the rightful owner of the business you can take what you want from the business' profits as long as you follow all regulations and rules applied for the business. also the remaining profit must be able to pay any bills taxes employees etc...
Wiki User
∙ 13y ago
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This type of business organization has one or more individuals sharing in profits?
A partnership is a business where two or more people come together to start and run a business. Some of the attributes of this type of business is that two or more people share in the profits and losses.
What does run for profit mean?
It means that the operators of the business are running it so that the owners of the business will make money which they can keep themselves. In some cases it is the executives who take the profits of the company in the form of grossly inflated salaries and bonuses.
Why we will do amway business?
Amway is a multi-level marketing business that profits from individual sales. For some, it can be very lucrative.
How would one define a business?
A business is an individual or group involved in professional, commercial, or industrial activities. Can be for profit of non-profit. Some kind of transaction must take place for the entity to do business with others.
How can one make your small business extremely cash profitable?
There are several ways in which one can make a small business extremely cash profitable. Some of these are: develop a profit strategy, invest in marketing, setting a profit goal, etc.
What is reinvested profit?
Reinvested profits is also known as retained profit/earnings. The profits are put back into the business for things such as expanding business. Using reinvested profits is an internal source of finance.There is no charges such as interest, dividends or administration.However, if profit is used by the business, it cannot be returned to the owners. Some owners might object to this.
What is Reinvestment?
Reinvested profits is also known as retained profit/earnings. The profits are put back into the business for things such as expanding business. Using reinvested profits is an internal source of finance.There is no charges such as interest, dividends or administration.However, if profit is used by the business, it cannot be returned to the owners. Some owners might object to this.
Why is it important for a business to make a profit?
Profit is one of the most important business goals. It is the motivation of profit that drives many people towards starting out in business in the first place. If you have invested a large sum of capital into starting up a business you are going to want to see a return on this at some stage. If you wish to expand your business in the future reinvesting profits is one way of financing it. Unless a business can make profits, it is likely to close down due to a lack of funds.
This type of business organization has one or more individuals sharing in profits?
A partnership is a business where two or more people come together to start and run a business. Some of the attributes of this type of business is that two or more people share in the profits and losses.
Why are profits important to businesses in the private sector?
Profits is important for all businesses regardless in private or public sector. This is because business by nature is about providing a solution or a product that can solve a problem for a profit. That is the very reason of doing business. I have been doing business for the past 8 years and believe me you need to ensure that your business is generating profit at some point in time. If not than chances are you are just doing charity work.
What does run for profit mean?
It means that the operators of the business are running it so that the owners of the business will make money which they can keep themselves. In some cases it is the executives who take the profits of the company in the form of grossly inflated salaries and bonuses.
How is the business of being a cosmetologist?
What are some of the profits of being a hairstyliat
Why we will do amway business?
Amway is a multi-level marketing business that profits from individual sales. For some, it can be very lucrative.
What is non profit organization?
AnswerA non-profit organization is one that, by law, is unable to hold or distribute profits like a "for-profit" organization can. This means that the non-profit company is required by law to redistribute any "profits" back into the company (in the form of salaries, new capital, etc), or to other non-profits or to charity. This also means that non-profit companies do not have the ability to issue or sell stock/shares and, therefore, cannot pay dividends on any earnings.Furthermore, non-profit companies may be required to have an unpaid (volunteer) board of directors with a larger number of directors than a business corporation.Although some non-profits may run very similar to some for-profit companies, the laws restricting the two are very different.Non-Profit Organizations are mainly those which is set up for philanthropic purposes. Social Organizations that collects money and utilize for some social work, is one example, but there are thousands of others.It should also be noted that a non-profit organization is not necessarily "tax-exempt" and may have to pay income taxes and collect sales taxes on its products and services.AddendumNote that a Non Profit Organization should not be confused with a Non Governmental Organization.
Does a not for profit social club have to have their income taxes prepared by a CPA or not?
Not necessarily if you can do it or have a member or know some one that is capable of preparing the tax returns with you or helping you to do this. You can find some information to start with by going to to the IRS gov website and choosing Charities and Non-Profits
What is the difference between earnings and profit?
Earnings include expenses, while profits are less expenses. Businesses try to maximize profits by reducing expenses, which is why some businesses charge more for the similar products.
What is a nonprofit organization?
AnswerA non-profit organization is one that, by law, is unable to hold or distribute profits like a "for-profit" organization can. This means that the non-profit company is required by law to redistribute any "profits" back into the company (in the form of salaries, new capital, etc), or to other non-profits or to charity. This also means that non-profit companies do not have the ability to issue or sell stock/shares and, therefore, cannot pay dividends on any earnings.Furthermore, non-profit companies may be required to have an unpaid (volunteer) board of directors with a larger number of directors than a business corporation.Although some non-profits may run very similar to some for-profit companies, the laws restricting the two are very different.Non-Profit Organizations are mainly those which is set up for philanthropic purposes. Social Organizations that collects money and utilize for some social work, is one example, but there are thousands of others.It should also be noted that a non-profit organization is not necessarily "tax-exempt" and may have to pay income taxes and collect sales taxes on its products and services.AddendumNote that a Non Profit Organization should not be confused with a Non Governmental Organization.
