Is SEASL a registered non-profit?

[McBeck]

YES! Our Charter Number is N00671994 and we have been registered with the state of Missouri as a non-profit since 2005. If you are searching for us on the state's website, search for Saltwater Enthusiasts rather than SEASL.

Here is a link to our confirmation page: https://www.sos.mo.gov/businessentity/soskb/Corp.asp?1741518

 

[MayoBoy]

So that means anything sold (SEASL's share) at the 50/50 is tax deductable ?

 

[inwall75]

<a href=showthread.php?s=&postid=9351418#post9351418 target=_blank>Originally posted</a> by MayoBoy
So that means anything sold (SEASL's share) at the 50/50 is tax deductable ?

No.

Let me know when your eyes glaze over.

Not-for-profit means that the main goal of the organization is not for profit. Many not-for-profits actually make a profit and pay taxes. Other not-for-profits make a profit and don't pay taxes. Confused???? You should be.

SEASL is not a public charity...it's a social service organization that is a not-for-profit under different rules. Your dues to it are not deductible and monies or equipment donated to it are not deductible either.

If people want to discuss non-profit tax law I'm more than happy to. However, prepare to be bored.

 

[Shooter7]

zzzzzzzzzzzz..... *snort* ........ what? huh?





:rollface:

 

[McBeck]

Dave - you have a little drool - yeah - that's it.... riiiight there!

:lol:

 

[MayoBoy]

 

[stlouisguy]

Becky, can I ask what caused such a ...uh...strange topic to come up? Always thought it was non profit

 

[McBeck]

A lady asked me about it when we visited the World Aquarium last Sat. She said she couldn't find "SEASL" on the state site and she wanted to make sure we hadn't lost our standing. Someone else overheard us talking and said they were wondering too, so I thought I'd just broadcast it in case anyone else was curious.

 

[stlouisguy]

cool thanks

I dont think I have ever looked for an organizations status

 

[JxMetal]

i'm not for profit........or actually i think I'm just "not profitable"

that's it.

 

[inwall75]

What???

No one wants to discuss not for profit tax law?

 

[MayoBoy]

Wow! Look at the time! I promised I'd give the cat a bikini wax. Same time next year Curt?

 

[Shooter7]

<a href=showthread.php?s=&postid=9354630#post9354630 target=_blank>Originally posted</a> by inwall75
What???

No one wants to discuss not for profit tax law?

Gee, well.......I'd say I have to help Steve with the cat, but that's just way too weird, so I guess I'll have to come up with some other excuse.


On the other hand, with you as a financial planner, I probably have a couple hundred things to talk to someone like you about, I just don't have any finances to plan with.

 

[DrBDC]

If you want to have more willing "financial planning" discussion participants, you need to hang out in the "new to the hobby" forum and stop them before they get too deep in this hobby. :lol:

 

[Shooter7]

hmmm....I wonder if purchasing frags now, with the intent of growing them out to full size colonies and selling them later for a considerable profit, could be construed as financial planning for my son's college tuition later? hmmmm....
:bum:

 

[stlouisguy]

<a href=showthread.php?s=&postid=9355657#post9355657 target=_blank>Originally posted</a> by Shooter7
hmmm....I wonder if purchasing frags now, with the intent of growing them out to full size colonies and selling them later for a considerable profit, could be construed as financial planning for my son's college tuition later? hmmmm....
:bum:

Sure, just replace "frags" with "stocks" and "colonies" to
"portfolio"

 

[DrBDC]

:lol:

 

[MayoBoy]

<a href=showthread.php?s=&postid=9355657#post9355657 target=_blank>Originally posted</a> by Shooter7
hmmm....I wonder if purchasing frags now, with the intent of growing them out to full size colonies and selling them later for a considerable profit, could be construed as financial planning for my son's college tuition later? hmmmm....
:bum:

Just have your wife get a job at SLU. THe kids will go for almost nothing to any Jesuit university in the US

That means more money for reefing, woodworking and retiring.

 

[DrBDC]

Wonder if they need a night janitor? :lol:

 

[inwall75]

Yes,

This hobby is DEFINATELY detrimental to long-term wealth accumulation. However, you can still follow the "pay yourself first" concept no matter how much you earn. Look at your budget, figure out what the necessities are, and then set aside that amount of money. Look at the cash that's left over and "pay yourself first". Take a portion of it out of your checking account. Put it in savings, call Clark, etc. Just don't leave it in your checking account.

When the checking account starts getting dry, you just might find that you don't need a Starbucks Latte every morning, you don't need name brand deodorant, yada, yada, yada.