Forming a non-profit is often a noble exercise which, if done properly, can be used as a vehicle to help people and improve society in many ways. However, the founders must be realistic with their expectations and understand that, in many ways, the experience comes with most of the problems and risks commonly associated with a small business start-up (and some additional risks and restrictions).
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A recent Washington case supported a taxpayer’s use of valuation discounts for LLC units as well as a redirection of excess gifts to a charity.
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