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Questions tagged [donation]

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

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67 votes
14 answers
11k views

What are some effective ways to help someone financially?

After managing my income and investments quite well over the last few years, I’m reaching the point of having more income than my personal needs require, and (after already giving thousands to charity ...
Simon E.'s user avatar
  • 711
46 votes
4 answers
29k views

Are ads on YouTube asking donations for sick children via drove.com a scam?

The past few weeks YouTube has been showing me advertising asking to make donations to help pay medical bills for sick children via a crowdfunding site called Drove. However, the ads look very ...
guest's user avatar
  • 471
42 votes
6 answers
13k 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 ...
Flying Thunder's user avatar
25 votes
5 answers
16k 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?
C. Ross's user avatar
  • 7,856
18 votes
2 answers
2k 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 ...
Josiah's user avatar
  • 311
18 votes
3 answers
14k 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 ...
MetaGuru's user avatar
  • 443
14 votes
5 answers
5k views

Is it standard to not provide receipts or invoices for donations?

I recently made a donation to a non-profit organizations that performs humanitarian assistance in places of conflict. Afterwards I remembered that my employer matches my donation up to a particular ...
user111548's user avatar
14 votes
3 answers
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 ...
7529's user avatar
  • 3,753
13 votes
3 answers
23k 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 ...
ipavlic's user avatar
  • 370
12 votes
1 answer
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'...
IneedHelp's user avatar
  • 223
11 votes
2 answers
68k views

Donation Value Of "One Bag Of Clothing"

Early last year, I donated 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 the ...
Steven's user avatar
  • 297
11 votes
4 answers
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, ...
user avatar
10 votes
4 answers
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 ...
Matthew's user avatar
  • 3,150
10 votes
3 answers
4k views

Give third party check to charitable org?

I got a small stipend as a check for a focus group thing, $125. I don't want to deal with the taxes, etc. Can I just endorse the check, hand it to, say, the food bank, and pretend I never saw that ...
Him's user avatar
  • 365
10 votes
1 answer
392 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 ...
temporary_user_name's user avatar
10 votes
1 answer
566 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 ...
Max's user avatar
  • 203
9 votes
4 answers
4k 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 ...
Henry B.'s user avatar
  • 661
9 votes
3 answers
50k 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 ...
Rboreal_Frippery's user avatar
9 votes
2 answers
289 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 ...
Debaser's user avatar
  • 191
8 votes
2 answers
464 views

Run Facebook fundraiser on behalf of Mexican citizen

Background I am a natural-born US citizen and lifelong US resident. My friend, who I will call V, is a Mexican citizen living in Mexico. She is trying to improve her financial situation. She has ...
Phoenix's user avatar
  • 181
7 votes
2 answers
77k 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 ...
Arraying's user avatar
7 votes
3 answers
10k 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 ...
Eric Belair's user avatar
6 votes
1 answer
528 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 ...
chrisapotek's user avatar
6 votes
1 answer
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 ...
Jeromy French's user avatar
6 votes
1 answer
578 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 ...
warren's user avatar
  • 3,229
5 votes
2 answers
2k 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 ...
Freiheit's user avatar
  • 8,742
5 votes
3 answers
327 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 ...
NeedAdvice's user avatar
  • 3,817
5 votes
2 answers
202 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 ...
f1StudentInUS's user avatar
5 votes
2 answers
269 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 ...
Accrodeon's user avatar
5 votes
1 answer
161 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 ...
user7937's user avatar
4 votes
2 answers
2k 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 ...
Tim's user avatar
  • 5,883
4 votes
1 answer
406 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 ...
iq78's user avatar
  • 307
4 votes
2 answers
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 ...
jessica's user avatar
  • 141
4 votes
4 answers
2k 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 ...
Gk3Biz's user avatar
  • 41
4 votes
1 answer
2k 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?
user avatar
4 votes
1 answer
78 views

In Ontario, Canada, how can I calculate when charitable donations lower my total payable tax?

I live in Toronto, Canada. I can control my income. I want to know how much of charitable donations will lower total tax payable for different incomes. Then I'll pick what income to aim for.
user avatar
4 votes
1 answer
523 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 ...
Jinx's user avatar
  • 235
3 votes
3 answers
144 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 ...
Sleepy Hollow's user avatar
3 votes
1 answer
158 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 ...
AvahW's user avatar
  • 133
3 votes
1 answer
135 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!
Tyler JEnsen's user avatar
3 votes
2 answers
18k 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?
Alex B's user avatar
  • 17.4k
3 votes
1 answer
155 views

Student Loan Proof [closed]

I want to make donations to people with student loan debt. The method by which these people are chosen does not enable me to get to know each person on a personal level. How do I verify someone's ...
RylonMcnz's user avatar
3 votes
1 answer
108 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 ...
Ahnold's user avatar
  • 43
3 votes
3 answers
5k 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 ...
Joe's user avatar
  • 35.8k
3 votes
1 answer
127 views

A 501c3 Church sharing a venue with a 501c7 [closed]

Can a 501c3 Church that owns or leases a venue it only uses one day or two days a week allow a 501c7 social club to use the rest of the week? The Church strongly supports the Arts and the 501c7 will ...
Brett Allen's user avatar
3 votes
0 answers
289 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 ...
Classified's user avatar
2 votes
3 answers
6k 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? ...
Paul G.'s user avatar
  • 39
2 votes
4 answers
221 views

How do tax payers have to pay for the tax deductions someone else receives due to a charitable donation?

"A $1,000 donation from a donor in the highest tax bracket costs that donor only $604. The federal government kicks in the remaining $396 in the form of a reduction in taxes", writes Ray D. ...
Manisha's user avatar
  • 21
2 votes
1 answer
188 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 ...
Reimus Klinsman's user avatar
2 votes
1 answer
3k 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 ...
unforgettableidSupportsMonica's user avatar