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Joe Boland
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To remain compliant with tax laws, Lane says to get familiar with IRS form 4945, which covers taxes on taxable expenditures. Essentially, the money must be for charitable or similar purposes and include a full and complete report on how the money is spent — and it must demonstrate reasonable belief in social impact. Then, anything that is not used needs to be repaid in full and displayed in the annual report.
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- Companies:
- American Red Cross
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Joe Boland
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