tax

Capital Gains Tax: How to Avoid it When Selling Your Home

Selling your home can be exciting yet complicated, especially when it comes to dealing with taxes. Of all the factors to consider, capital gains tax stands out as one that might have a big impact on your financial situation. However, there are strategies and provisions in place to mitigate or even avoid capital gains tax …

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Tax Exemption For Churches In Arizona

Churches and other religious organizations are qualified for tax-exemption status in Arizona and the rest of the United States. The reason is their nonprofit and religious nature. 501(c)(3) Status Churches and religious organizations often seek recognition under section 501(c)(3) of the Internal Revenue Code to qualify for tax exemption. The Internal Revenue Service (IRS) processes …

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Tax-exempt Status As A Nonprofit In Arizona

Acquiring tax-exempt status in Arizona for a nonprofit organization is a multi-step process that includes state and federal regulations. Here’s an overview of the procedure: Incorporate Your Nonprofit Set up your nonprofit as a legal organization in Arizona. Submit the Articles of Incorporation to the Arizona Corporation Commission (ACC). As part of this procedure, decide …

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Do I Need To Pay Tax On A Car Accident Settlement Or Judgment?

Are you planning to seek compensation through a car accident settlement or judgment? It is important to understand the potential tax implications associated with it. Being involved in a car accident is a traumatic experience that can result in physical injuries, emotional distress, and financial burdens. Make educated decisions and prevent any future unforeseen financial losses …

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