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How to Setup Your Own Charity | Mark J Kohler | CPA | Attorney

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Hi Mark Kohler here with another tax and legal tip. Let's talk about setting up your own charity

How cool would that be! something that you can help control and get donors and make the world a better place?

Well, it's an exciting topic. Now. There's a lot of pros and cons and some how to's here. It's a huge topic

So let's dive into it and see where we go. Now. I want to go through the good news

the bad news

The how-tos and explained right off the bat that I've got a full blog article on this with lots of bullet points in detail

If you're serious about this, you want to hit on that link below and get to the article

It'll help you out a ton as you prepare and consider to take this step forward

Now this hit 3 bad news items first

You have to have a charitable purpose now some you may think well mark, that's why I'm doing this

How can that be bad news? Well, I do get clients. Call me sometimes again

Oh

I want to set up a charity that can get donations and then it's gonna hire my business or it's gonna give me a job

Or some fangled way that it's gonna help their business if you have that ulterior motive somewhere in your plan

Let me tell you right now

it's not going to the IRS sees through that they've been doing these for years approving them or rejecting them based on these little

Side deals that are kind of charities in a sense, but they're really to help your business. Don't go there

So the first issue is which some may consider bad news others think of it

This is the reason I'm doing it

you've got to have a charitable purpose something to make the world a better place whether

Locally regionally in the United States or in the world. I don't care if I have a charitable purpose. That's not to benefit you