Noura also talks about tax and bookkeeping responsibilities for nonprofit consultants that serve nonprofit organizations.
These include what your business status is (Sole Proprietorship, LLC, Sole Corporation, etc.) and what your tax claims are (married, single, head of household, etc.).
Noura discusses some key ways in how nonprofit consultants and freelance grant writers can approach their finances and make sure that they do not get penalized by the IRS.
This is super important so that nonprofit consultants can continue to run their businesses and serve nonprofit organizations!
In fact, if your nonprofit organization does not file their taxes for three years, they will lose their tax-exempt status!
But this isn’t the only way that they can lose their nonprofit tax-exempt status. There are many more that Noura Almasri explains.
Noura Alsmari is an Enrolled Agent and the founder of Noura’s Books, a Tax and Accounting Firm. She has a master’s degree in Business Information Technology from DePaul University. With 22 years in accounting and 15 years in nonprofits experience she has served in different capacities where she has developed and implemented managerial and financial strategies that led to significant growth in these organizations. Noura also served in accounting and finance in different companies in corporate America.