Re: DONATION etiquette - and the law ... 
| August 13, 2015 01:45PM |
Folks,
I would advise all to heed Russ' advice if you are having thoughts about itemizing the cost of your ticket on this charter on your next Form 1040, Schedule A. Of course, if you don't itemize, you can't deduct any charitable contributions.
Generally speaking, IRS does not allow deductions for monies paid to charitable organizations if "you received something of value" in exchange for that contribution. I think it is arguable that patrons on the charter are receiving something of value that is not being afforded to anyone else but them. In addition, I think the IRS would ask if the trip would be run if everyone was interested, but no one was willing to pay. If the trip needs the patrons' funding to proceed, it is not a deductible contribution. If only a portion of the cost of the ticket is going to fund the trip operation, the operator would typically inform the patron at the time of the transaction, what portion of that cost was tax deductible.
Basically, you get a tax deduction when you give money to an IRS-approved charity.....with no strings attached. There are also all kinds of rules regarding documentation of said contributions, depending upon the type of contribution and the value. In some cases, you would need a letter from the charity, acknowledging the donation and expaining what it was for.
Y'all be careful out there, and we'll see you on the train!
/Kevin
I would advise all to heed Russ' advice if you are having thoughts about itemizing the cost of your ticket on this charter on your next Form 1040, Schedule A. Of course, if you don't itemize, you can't deduct any charitable contributions.
Generally speaking, IRS does not allow deductions for monies paid to charitable organizations if "you received something of value" in exchange for that contribution. I think it is arguable that patrons on the charter are receiving something of value that is not being afforded to anyone else but them. In addition, I think the IRS would ask if the trip would be run if everyone was interested, but no one was willing to pay. If the trip needs the patrons' funding to proceed, it is not a deductible contribution. If only a portion of the cost of the ticket is going to fund the trip operation, the operator would typically inform the patron at the time of the transaction, what portion of that cost was tax deductible.
Basically, you get a tax deduction when you give money to an IRS-approved charity.....with no strings attached. There are also all kinds of rules regarding documentation of said contributions, depending upon the type of contribution and the value. In some cases, you would need a letter from the charity, acknowledging the donation and expaining what it was for.
Y'all be careful out there, and we'll see you on the train!
/Kevin
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488 stops for water at Los Pinos tank on closing day Oct. 1979. Photo courtesy Don Richter
The NGDF was started by Don Richter and is currently operated in his memory by Nathan Holmes and others. Others who have contributed to the upkeep of this board are (in no particular order): Charles McCandless, Everett Lueck, Ted Wilton, Cole Adams, James Bane, John Moellmer, Jon Bentz, Linn Moedinger, lloyd lehrer, Rod Jensen, John Craft, Steven Forney, Herb Kelsey, Bill Ramaley, Russ Sperry (El Russo Loco), Josh McNeal, John West, Jim Armstrong, Bob Bergstrom, Greg Scholl, Blake Forbes Doug van Veelen and Mark Fuller.