I need help with an accounting problem

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Analyze the major requirements for an entity to qualify as exempt. Explain the manner in which these requirements help support the entity and its goals.

Nov 12th, 2015

Thank you for the opportunity to help you with your question!

The requirements for an entity be listed as a tax exempt are

  1. The organization gross receipts must not exceed $50,000
  2. And the last is that their assets cannot exceed $250,000
These organizations exist as small charities and their profits are used to organizational interests and not enrich individuals thus, help aid to support entity goals

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 12th, 2015

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Nov 12th, 2015
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