I aim to sell products and a % of it will go towards being able to directly help disadvantaged kids overseas (I’m familiar with the location and know a school that is struggling).
However I don’t understand taxes and how this works? As technically I’m donating the money but can’t specify that as I’m a for-profit business.
Can I also advertise my business to be on a charitable mission or is this wrong since it’s not completely non-for-profit?
For example, I would love to collect school supply donations and deliver it to the struggles school- can I legally collect donations?
Sorry if these questions are stupid, my business focus is to be able to support these kids but I want to make a profit to live.
E.g I’m McDonald’s and I start a mission called the McDonald’s Project where half the Big Mac sales go towards the project.
Do I register the project?
Ask a suitable lawyer and CPA. To do this legally with two entities it requires a lot.
There are other alternatives that may satisfy your desired outcome, such as a b corp.