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QUESTION:  Can one of the founding board members of a newly formed 501(c)(3) exempt organization take a tax deduction for personally paying most of the organization’s startup expenses during its first year in operation?
September 18, 2024

QUESTION:  Can one of the founding board members of a newly formed 501(c)(3) exempt organization take a tax deduction for personally paying most of the organization’s startup expenses during its first year in operation? ANSWER:  Yes. …