Examlex
Which of the following is true of labor unions in the United States?
Section 501(c)(3)
Section 501(c)(3) refers to a portion of the U.S. Internal Revenue Code that grants tax-exempt status to nonprofit organizations that meet certain criteria, primarily those engaged in charitable, religious, educational, or scientific activities.
Expenditures
The act of spending or disbursing money, often categorized into capital and operational expenses in both personal and organizational contexts.
Charitable Giving
The act of donating money, goods, services, or time to a cause believed to benefit society, often performed without the expectation of direct financial benefit.
Income Tax Deductions
Specific expenses that taxpayers can subtract from their gross income to reduce their taxable income, resulting in lower taxes owed.
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