Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
It's because of people pulling tricks like that, that charities are required to put that verbiage about "No goods or services were provided in exchange for this contribution," etc.

I thought that disclaimer was because in some situations, goods/services ARE provided in exchange for a contribution, so only a portion of the contribution is deductible. Examples:
--Donations to PBS for which they send you a DVD that is a fraction of the value of the donation-- you must subtract the value of the DVD from your donation amount when you file taxes
--Charity dinners-- you are getting a meal included, so the charity tells you the value of the meal that you need to subtract from the donation amount
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.