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7
votes
2answers
163 views

How can a school club collect money using credit cards?

tl;dr- How can we legally accept credit cards (to our club bank account) without being able to become a legal entity? I'm an officer an officially-recognized student-run club at my university. I'd ...
1
vote
1answer
61 views

501(3)(c) to donators for trophy party

Manager on a little league team asks for donations from businesses to raise money for trophy party. We sell tickets for drawing and give away all donated prizes. Donations are products from the from ...
6
votes
1answer
430 views

How to determine fair market value for a home donated to a fire department for training exercises?

In "Scharf v. Commissioner", the US Tax Court established that donating property for use in firefighting training exercises provides a valuable service to the community. If the receiving fire ...
4
votes
2answers
840 views

Are in-kind donations from my S-Corp tax-deductible in any way?

I have an S Corp that each year, sponsors a film festival by creating their website for free. In return, they print our logo in their program guide. Last year, I gave them 80 hours of work building ...
7
votes
1answer
97 views

What types of nonprofit entities can be formed to raise money for someone's benefit?

Our family, along with some friends, have become acquainted with a family in our neighborhood whose young girl has a life-threatening illness. The required treatment is lengthy and expensive, so we ...
11
votes
7answers
452 views

How can I help others plan their finances, without being a “conventional” financial planner?

I've helped a few people in my family get their finances in order, just with very basic tips and with money-saving tips I've gleaned from personal experience. I think I've made a significant ...