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Submitted 151 days ago...
Our non-profit organization reports income tax to the IRS every year. But what I said is that I refer to individual own money not organization.
We voluntarily work for non-profit organization, and members of that organization donate money to us. After that, we have some money for our necessities in everyday life. We want to create personal checking or saving accounts at any bank that we like to do so, in order to be easy for us to travel to any place or for our everyday expenses. My guestion is that, should I report income tax to the IRS at the end of each year? What amounts should be limited for individual's personal checking account if that income is from donation or charity? On the other hand, we create checking account savings account or apply for credit card for only one purpose is that it is safer us to use money when we spend or buy something at the stores or gas station. What I described is right or wrong? I am looking forward to hearing from any experts of non-profit organization. Thank you.
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