Chances are if you help run a nonprofit, you've contributed a fair amount of your income to it, warranting a write-off as expenses. However, how do you reimburse yourself for the expenses from your nonprofit?

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“Any time you put money and fund a nonprofit, it's going to be a charitable donation so long as you document it.”0:47

Toby Mathis, Esq. and Jeff Webb, CPA received this question from a listener who wanted to know if he could reimburse himself for the expenses he's incurred while helping run a nonprofit. To answer this question, Toby and Jeff discussed whether or not it's legal to reimburse yourself from your nonprofit without getting taxed on top of it.

If you are interested in hearing more great questions like this one, be sure to check out our podcast, Tax Tuesday, for more great questions and answers like the one in this video.

Thank you for joining us for this segment taken from Tax Tuesday. If you have a question about taxes, be sure to check out our website for more information.

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Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba

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#nonprofit #writeoff