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MINISTRY OF FINANCE, TRADE, INVESTMENT AND ECONOMIC PLANNINGFINANCE DEPARTMENTGOVERNMENT GRANT GUIDELINES FOR NOTFORPROFIT ORGANISATIONS0TABLE OF CONTENT1.0 INTRODUCTION22.0 ELIGIBILITY23.0 GRANT
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Small business refers to a privately owned corporation, partnership, or sole proprietorship that has fewer employees and/or less annual revenue than a regular-sized business. A non-profit organization is a group organized for purposes other than generating profit, such as charitable, educational, or religious activities.
Small businesses and non-profit organizations are required to file taxes with the IRS if they meet certain criteria based on their revenue, expenses, and legal structure.
To fill out taxes for a small business or non-profit, you will need to gather all financial records, income statements, receipts, and any other relevant documents. You can then either fill out the forms manually or use tax software to assist you in the process.
The purpose of a small business is to generate profit for its owners, while a non-profit organization aims to serve a specific social, educational, or charitable purpose without generating profit.
Information that must be reported on taxes for small businesses and non-profits includes revenue, expenses, assets, liabilities, payroll information, and any tax deductions or credits that may apply.
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