How to move profits from LLC to Non-profit charity org ?

Question

How to move profits from LLC to Non-profit charity org ?

Can and Individual own both LLC and Non-profit ?

Answer 1

You will still have to pay taxes on the income generated while in LLC form. However transferring the money to a charity might get you a tax deduction. There is no need to transfer the money to the charity, simply give it as a tax deductible gift. An individual does not own a non-profit, it is a corporation, with a management structure.  

Answer 2

sounds illegal

Answer 3

Your business has to be a non profit with no funds with the exception of donation. Anyway, I would recommend speaking to a business lawyer regarding this because it depends on the type of company etc.