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Old December 7th, 2012, 11:55 AM   #21
deerebowtie
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ryebread, I'd like to point out a scrap yard in NW michigan that runs everything under the owner's personal account or his "church/ministry". I'm curious how they get away with it is all.
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Old December 7th, 2012, 12:04 PM   #22
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ryebread, I'd like to point out a scrap yard in NW michigan that runs everything under the owner's personal account or his "church/ministry". I'm curious how they get away with it is all.
feel free to point it out. there are also reporting mechanisms in place.

if it's with respect to the property tax status as exempt or not, that is in fact public information at your local municipality. if the assessor fails to correct, or separate the entities he/she can lose their certification and job.

if this is a federal/state income tax related issue I believe a google search will dig up a hotline to file a complaint.

also, if it's an automotive scrap yard, they have their own whole separate and additional level of business regulations that you may have a valid complaint to file against.
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Old December 7th, 2012, 12:10 PM   #23
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The business may not be profitable but as CEO you could draw quite the salary!
profit status is one of only a large bundle of sticks used to measure exempt vs. non-exempt status.

and while it's true that some exempt entities do have salaries for directors that seem exorbitant there are thresholds for that as well.

tax compliance is a whole sub-market/specialty in the accounting world - especially if you're talking about international level.
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