Vanguard07 Posted November 16, 2006 Share Posted November 16, 2006 Ok, so I was driving to work this morning and thought, if I pay my drum corps fees from my personal account with personal checks do I get a tax deduction? I mean yes I'm getting a summer of marching out of it, but its still a not-for-profit organization. Just wondering if any of you legal types know if this is possible. Quote Link to comment Share on other sites More sharing options...
dbc03 Posted November 16, 2006 Share Posted November 16, 2006 Ok, so I was driving to work this morning and thought, if I pay my drum corps fees from my personal account with personal checks do I get a tax deduction? I mean yes I'm getting a summer of marching out of it, but its still a not-for-profit organization. Just wondering if any of you legal types know if this is possible. I'm no tax expert but you are paying them for something that you get in return, it's not a donation. I'm fairly sure that it's not even a tax deduction if someone donates the money to pay your dues for you. Quote Link to comment Share on other sites More sharing options...
sburstall Posted November 16, 2006 Share Posted November 16, 2006 Ok, so I was driving to work this morning and thought, if I pay my drum corps fees from my personal account with personal checks do I get a tax deduction? I mean yes I'm getting a summer of marching out of it, but its still a not-for-profit organization. Just wondering if any of you legal types know if this is possible. If you use that logic, than anything that is purchased as souvies should also be tax deductable, which we know isn't. I know if I joined the SAE, I could right that off as a tax deduction because it would be related to work. Tax laws are just to confusing at times.. Quote Link to comment Share on other sites More sharing options...
MiamiSun76 Posted November 16, 2006 Share Posted November 16, 2006 Even direct contributions aren't fully deductable if there are "thank you gifts" associated with them. SCV takes a very conservative approach to valuing their "thank you's" but at least they provide contributors with a statement of what the tax deductable value of their contribution is. Quote Link to comment Share on other sites More sharing options...
bearz Posted November 16, 2006 Share Posted November 16, 2006 Anything where you receive something in return is not tax deductible. Your fees are just that, fees. Its like if you purchase a raffle ticket from a NPO. You can't deduct that either, because you get the chance to win something in return. I've sent in donations for fees for 4 members, and I can't deduct them because they were specifically for members fees. If I had donated them to the general fund for operating expenses, then I could deduct them. Sorry.... Quote Link to comment Share on other sites More sharing options...
ClarkJKent Posted November 16, 2006 Share Posted November 16, 2006 Try reading IRS publication 529. (no really it's fun) I'll summarize : Dues -- NOT tax deductable. Money from Sponsor given directly for your use -- NOT tax deductable. Money given by a sponsor to the corps for someones dues, when the corp desides who benifits from that money -- this IS tax deductable (on the sponsors 1040) Quote Link to comment Share on other sites More sharing options...
Jimisback Posted November 16, 2006 Share Posted November 16, 2006 So if the sponsor gives enough money for everyones dues but lets the Corps decide to name all the people, it is tax dedutable? I have a strange mind. :) Quote Link to comment Share on other sites More sharing options...
LaSqueegee Posted November 16, 2006 Share Posted November 16, 2006 Anything where you receive something in return is not tax deductible. Your fees are just that, fees. Its like if you purchase a raffle ticket from a NPO. You can't deduct that either, because you get the chance to win something in return.I've sent in donations for fees for 4 members, and I can't deduct them because they were specifically for members fees. If I had donated them to the general fund for operating expenses, then I could deduct them. Sorry.... Try reading IRS publication 529. (no really it's fun)I'll summarize : Dues -- NOT tax deductable. Money from Sponsor given directly for your use -- NOT tax deductable. Money given by a sponsor to the corps for someones dues, when the corp desides who benifits from that money -- this IS tax deductable (on the sponsors 1040) These two posts pretty much nailed it on the head!!!!!! :) Quote Link to comment Share on other sites More sharing options...
LaSqueegee Posted November 16, 2006 Share Posted November 16, 2006 So if the sponsor gives enough money for everyones dues but lets the Corps decide to name all the people, it is tax dedutable? I have a strange mind. :) That would be a lot of money........are you Donald Trump?? b**bs Quote Link to comment Share on other sites More sharing options...
boilerman_05 Posted November 16, 2006 Share Posted November 16, 2006 only a quarter of a million dollars or so. Doesn't everyone have that lying in a change jar somewhere? Quote Link to comment Share on other sites More sharing options...
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