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Questions tagged [donation]

For questions relating to charitable donations, donating money to other individuals, causes or organizations, etc.

4
votes
1answer
91 views

Sold wall map as fundraiser for a 501c3 non-profit. Need to report on tax returns? How?

In my spare time outside of my full time job, I produced a wall map for as a fundraiser for a 501c3-registered non-profit organization. I then sold the maps via FundRazr.com and money from sales was ...
41
votes
6answers
12k views

What do I need to watch out for when receiving a large sum of money as a gift in Germany?

I live in Germany. If my father would want to give me a large sum of money - let's say 10,000€ - what would be the safest, least bureaucratic way to do this? I'm an apprentice and I still receive ...
3
votes
3answers
838 views

How may I gift/send money to a friend anonymously?

I have a good friend who I attended university with in the past. (in the US) I happened to get to know that they were having some money troubles, and I wanted to provide some assistance as a gift, but ...
2
votes
0answers
70 views

Donating ESPP shares to non-profit organization

In recent years, I've made donations to some non-profit organizations using stock shares. They immediately sell when they receive the shares from my brokerage firm and send me a document at the end ...
1
vote
2answers
146 views

Can these donations on behalf of a charity be “passed through” without being treated as personal income?

My question is about how US tax laws apply in a somewhat complex situation. You are not my lawyer and this is not legal advice, but I'm not finding any relevant IRS rules here at all and I know some ...
3
votes
1answer
155 views

I donated around 5000 books to charity, should I get a tax preparer

I normally do my taxes on turbo tax but I recently got a well paying job and donated roughly 5000 books to a local charity. I don't have an exact count of the books but I do have a count of the boxes ...
0
votes
1answer
102 views

Can I get a charitable receipt for donating books? [closed]

I am downsizing and have many 'books' how and where can I get a charitable tax receipt ?
5
votes
1answer
114 views

Does a Charitable donation deduction depend on the price or the value of the item?

When donating a product, does it matter what the original cost of the product was? For example, what if a $1000 product was purchased for $50? I know it's the reasonable market value of the product ...
4
votes
2answers
16k views

How can I let people send me money via PayPal without them seeing my PayPal account info?

Two things to start of with: one, I don't know if this is the right StackExchange website for this, and second of all, my title doesn't make much sense, so her is the concept of the question: I would ...
10
votes
4answers
4k views

How should I value personal use television for donation?

Given an LCD television using primarily for personal use, if I were to donate it what would the donation value be? I assumed that I should take straight-line depreciation over its useful life? IRS ...
2
votes
3answers
84 views

Donation for nonprofit 501(c)(3) organization, if I also work for them: Tax-deductible?

I work for nonprofit 501(c)(3) organization and I plan to donate a few items for this organization. Can I make this donation tax-deductible? Is it a problem that I work for them (and I will have their ...
3
votes
1answer
132 views

Does a donation have to be used only on the thing it was donated for?

I am currently in the process of developing an open-source computer application and it is taking up a lot of my free time, so I would like to get some sort of income from it, even if it is a small ...
3
votes
1answer
83 views

2014 charitable donation (via check); cashed in 2015; can I include on 2015 taxes?

I mailed a check as a donation to a charitable org on 31 Dec 2014. It was cashed on 9 Jan 2015. I intended it for 2014 taxes, but forgot to include. Since it was cashed in 2015, can I include it on ...
4
votes
2answers
1k views

What does the IRS standard deduction amount mean?

http://www.moneycrashers.com/reselling-vs-donating-tax-deduction/ Apart from the personal satisfaction you get from helping a nonprofit, donating your extra stuff can land you a valuable tax ...
16
votes
2answers
1k views

What's the best way to invest for making regular donations?

Up until now, I've been making my donations to charity in a very naive way, by just skimming the top 'x'% off of my raw income and using that bucket for donations. Recently, I have been making more ...
12
votes
1answer
4k views

Is it wise to use a PayPal account for donations larger than $1 million/month? [closed]

If I am about to receive multiple $5 donations that would sum up to over a million dollars per month, would it be wise to use a PayPal account? I can't confirm my nonprofit 501(c)(3) status and I don'...
14
votes
3answers
12k views

Can I deduct a 2013 donation to charity on my 2014 tax return?

In 2013 I made a donation to a charity. In early 2014, I included a copy of the donation receipt with all the paperwork I sent to my CPA. When he filed my 2013 tax return, he forgot to deduct the ...
1
vote
1answer
86 views

When filing taxes can I apply deductions of the current year for a future year instead?

I have some substantial deductions via donations and medical expenses. Unfortunately it does not seem like my income is high enough for them to be considered this year. After going through the steps ...
3
votes
3answers
3k views

Under what circumstances is a membership a deductible donation?

I'm a member of the Chicago Children's Museum, which is a 501(c)(3) cultural organization. I pay $115 a year in membership dues. That membership includes free admission and a 10% discount on food ...
2
votes
3answers
3k views

How to gift money anonymously to an individual after collection thru a donation site?

I am receiving some excellent feedback, so please bear with me while I give more details on the entire concept - as I am starting to think it may not be feasible without cooperation from the family? ...
1
vote
1answer
359 views

From a tax perspective, how can a business allow a large portion (80%+) of payments to be given to charity (like Humble Bundle)

To anyone who is unfamiliar with Humble Bundle, they let you purchase games (or other media) and you pay whatever you want. They also let you divide this money up between Humble Bundle, the content ...
2
votes
1answer
67 views

Possibility of donations in an educational site

I would like to create a site with a series of lectures in video form. The lectures will concern the presentation of philosophical books. Would it be possible for people to donate a small amount of ...
5
votes
2answers
220 views

Will charity donation have no effect on my taxes if I take the standard deduction?

According to this question looks like donation will only have tax benefit if I itemize my deductions, and itemizing deduction seems to be only beneficial if you have expenses such as medical care or ...
1
vote
1answer
84 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 ...
4
votes
4answers
1k views

Can a company donate to a non-profit to pay for services arranged for before hand?

For example - a non-profit is in need of a website. Can a company say "StackExchange" donate to a non-profit company say $5,000 in agreement that they will spend that on paying a designer for a new ...
1
vote
1answer
146 views

Donations for a new computer taxation help?

I make music on youtube and my equipment is not the greatest. I would like to accept paypal contributions to help me get a better equipment. my question is do i need to declare these donations in my ...
6
votes
1answer
454 views

Can someone explain in simple and direct ways how the gift / donation tax works for a lottery winner?

My jackpot money is cleared in the bank with all its federal/state/city/village/building taxes paid in full. Now I want to start giving money away. What will be the tax implications if I give or ...
10
votes
1answer
359 views

How do taxes work with donations made to an individual, e.g. for free software I wrote?

If I offer a piece of software for free, but give users the option to make a donation on the webpage, what laws govern those donations? Do I report it as income? Is it subject to just the same amount ...
3
votes
1answer
454 views

Why aren't Paypal donations allowed in some parts of Europe?

I know that Paypal donations aren't available for Croatia, and maybe some other parts of Europe, but I always wondered why is it that way? Are there some legal issues or what? I'd really like to know ...
6
votes
1answer
2k 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 ...
2
votes
1answer
938 views

How can I donate money to the Canadian federal government?

Lots of governments accept donations from members of the public. For example, I know the government of Ontario accepts donations through the Ontario Opportunities Fund. I also know that the US federal ...
11
votes
2answers
56k views

Donation Value Of “One Bag Of Clothing”

Early last year, I donated some clothes to Goodwill and received a donation receipt for "one bag of clothing." I have no memory or documentation of exact contents to calculate an amount. Given only ...
5
votes
1answer
141 views

Apartment donation or gift for foreigner living in US

Some of my relatives would like to donate or move an apartment on my name. However, there are a few things... I am a Romanian citizen living in the US (on a non-immigrant visa) The apartment is in ...
6
votes
1answer
369 views

Can I deduct my Goodwill donations from my taxes in Kentucky?

On our Goodwill receipt, it says that special rules apply to donations over $500. We have made two donations this calendar year, each being in excess of $400 (i.e. total >$800). Do the special rules ...
4
votes
2answers
2k 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 ...
5
votes
2answers
1k views

Canceling a credit card with recurring/automatic payments

I am canceling a credit card because I am extremely unhappy with the bank. I have several recurring pledges and donations linked to this card. Do I need to contact each organization individually and ...
18
votes
3answers
9k views

How should I handle taxes for Minecraft server donations?

I run a Minecraft server and there is a donation button so players can help support the costs. I pay out of pocket for the rest, it's $125/mo. The money they donate goes right to paypal which is ...
9
votes
1answer
285 views

What are the (US) tax implications for donationware?

I'm an individual and not a part of any nonprofit organization. What, if any, tax implications are there for donationware in the US (as a recipient of funds)? The product would be software and/or ...
3
votes
1answer
131 views

US Simple donation taxation question

If i take in 50k of income and donate 40k to a 501(c)(3) non-profit, how much money will have to pay taxes on? I am a sole proprietorship. Thanks!
11
votes
3answers
19k views

Paypal website donations without being a charity

I would like to receive donations on a website instead of having commercials or subscription fees. I am an individual, not a non-profit organization and will not be giving tax-deductible receipts. Is ...
5
votes
3answers
265 views

Which payment plan is better to pay for tuition?

My kids go to a private school that's attached to a religious congregation. As far as paying tuition, they offered me a choice between these 2 deals: $1296 per month (for 12 months). $1156 per month ...
5
votes
2answers
166 views

Tips to putting the yearly health insurance payments to work

I have been making my annual $1.5k health insurance payments to Blue Cross and now it feels like I am pouring money down the drain year after year! Since I exercise daily, eat healthy and keep myself ...
7
votes
3answers
7k views

How can I calculate the value of donated clothing for tax purposes?

I have many clothing items that I plan on donating to a local charitable/religious organization. I want to include the value of these items as a charitable deduction on my income tax, but I don't know ...
3
votes
2answers
15k views

Are donations to public schools tax deductible like a 501(c)(3) organization?

In the United States, are donations to public schools like a local elementary school deductible in the same way that donations to a 501(c)(3) charity or a church are deductible?
12
votes
5answers
9k views

Can making a donation reduce your tax bill?

If my adjusted gross income is $1000, and I make a donation of $100, then it seems that I'm still going to have to pay a tax on the $1000. The donation is deductible, so I don't pay any tax on that, ...
8
votes
4answers
3k views

Donating books to charity & claiming a deduction on my income tax: How to value the goods?

I have a large number of books. I tried selling them on Amazon, but they don't cost enough to make up for the shipping. I tried selling them at local book stores, but they barely took any of them ...
4
votes
1answer
1k views

Can I claim a UK or foreign charity donation as tax deductible in Canada?

Can I claim a UK charity donation as tax deductible in Canada? More generally, are charitable donations to foreign charities tax deductible in Canada?
22
votes
4answers
11k views

How to donate money anonymously?

I would like to donate some money to a charity, but I would rather they not know who donated it. How could I go about this if cash isn't an option?