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Hey there, fellow CPA nerds! We’ve got a question that might have crossed your mind while crunching numbers: Do nonprofits in Michigan have to file a tax return since they don’t owe tax? Well, the answer might surprise you, but it’s a resounding yes! So, grab your pocket protectors, and let’s dive into the fascinating …
Strengthening Non-Profits: Financial Audits In the world of non-profit organizations, financial transparency and accountability are paramount. Non-Profit Expert Financial Audits and Reviews need to meet state and federal regulations, as well as to assure donors and stakeholders of their fiscal responsibility, many non-profits turn to expert accounting teams for financial preparation and audit reviews. These …
Should a Non-Profit pay taxes on their property? In Michigan, there’s a property tax exemption for charitable institutions that own and use property exclusively for their charitable purposes. However, some assessors wrongly denied this exemption to charities that charged fees for their services, arguing that they were operating like businesses. In 2006, the Michigan Supreme …
