Question: taxes

Our PTO is NOT 501c exempt so what tax forms do we need to file??

Asked by jennnp30



Advice from PTO Today

Craig writes:
If your group is independent -- you have your own bank account under your own EIN -- you should file IRS form 1023, the application for tax-exempt status. I know, that sounds smart alecky, but it's really the answer. If you're not a tax-exempt nonprofit, the alternative is that you're a tax-paying business. But you certainly don't want to pay business income taxes on the money you raise. The good news is that the IRS doesn't want to track you down and make you pay taxes; they want to track you down and make you apply for tax-exempt status. Tax-exempt status is retroactive, too. Read the article 501(c)(3) for PTOs for more information.

Community Advice

Porton writes:
Hi, We have some questions regarding our PTO taxation and I was wondering about using PDF conversion software. We have found that for certain amounts of income or fundraising, a payment obligation may be possible. Has anyone encountered similar tax issues and how can PDF conversion software help organize financial data in such situations?

Community Advice

daddario writes:
Hi, Tax issues are always a concern and I wanted to share my experience that may be helpful in managing your PTO's financial data. In a similar situation, using PDF conversion software such as can be a powerful tool. PDF conversion programs make it easy to convert important documents into a convenient and manageable format. You can create electronic copies of your financial statements, invoices, and other documents, then easily organize them in one file. This will greatly facilitate the process of tracking income and expenses, and will also help prepare the necessary documentation for tax obligations.

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