Discussion:Business as intermediary for charitable contributions
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| Revision as of 19:36, 18 March 2008 Newtaxguy (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 20:57, 18 March 2008 PostingFromWork (Talk | contribs) (It doesn't sound) Next diff → |
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| + | {{ForumReplyPost|UserID=PostingFromWork|Date=18 March 2008|Text=It doesn't sound like a for-profit activity if he isn't trying to get a taste. I vote charitable deduction, if any. Need more details on the various expenses to make a call. | ||
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| + | I'd be worried if this arrangement will mess up any charitable deduction of the donors.}} | ||
Revision as of 20:57, 18 March 2008
Discussion Forum Index --> Basic Tax Questions --> Business as intermediary for charitable contributions
Discussion Forum Index --> Tax Questions --> Business as intermediary for charitable contributions
| March 18, 2008 | |
| A well-meaning client has started a "business" in which he facilitates contributions to charitable organizations by organizing activities that donors will "sponsor". He collects sponsorship contributions and forwards them (100%)to the charitable organization. The charitable organization sends acknowledgement letters to the sponsors/contributors documenting the contributions for tax purposes. The client has no reportable income from this activity but he incurs expenses: approximately $10,000 in "startup" training and equipment purchases, and $500 in operating expenses per activity.
Does the client have any justification for filing a schedule C and claiming the startup and operating expenses on it? The New Tax Guy | |
PostingFromWork (talk|edits) said: | 18 March 2008 |
| It doesn't sound like a for-profit activity if he isn't trying to get a taste. I vote charitable deduction, if any. Need more details on the various expenses to make a call.
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