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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. …